Former Minister of State Enterprises, Joseph Cudjoe, has dismissed claims that most state-owned enterprises (SOEs) in Ghana are struggling financially, insisting that such assertions misrepresent the reality.
Speaking on the Asaase Breakfast Show on Friday (7 March), Cudjoe explained that state enterprises operate under different mandates, and it is misleading to assess them solely by profit margins. "Not every state entity is designed to make a profit," he stated. "Some exist to regulate, some to provide essential services, and others to generate revenue.
Lumping them all together creates the wrong impression." He clarified that Ghana's SOEs are not a monolithic group and highlighted a distinction between profit-making ventures like the Electricity Company of Ghana (ECG) and regulatory bodies such as the Food and Drugs Authority (FDA).
He also pointed to joint ventures like Goil and GCB Bank, where the state partners with private investors for mutual benefit.
