Unethical leadership and poor corporate governance are the major causes of persistent losses in Ghana's state-owned enterprises (SOEs), Dr Alfred Mahamadu Braimah, Chief Executive Officer of the Institute of Directors-Ghana, has asserted.
Speaking at the 2025 Annual Lecture organized by the Faculty of Management Studies at the University of Professional Studies, Accra (UPSA) on Thursday, May 8, Dr.
Braimah painted a grim picture of SOE performance, blaming leadership failures for the sector's inability to contribute meaningfully to national development. "Clearly, if we are making losses in the state-owned enterprise sector, something is wrong.
Two of the key areas that are likely to be the cause are non-ethical leadership and poor, bad corporate governance practices," he said. "Indeed, the majority of these enterprises are making losses, and instead of contributing to national development, they are draining public resources." Dr Braimah, who also serves as Board Chairman of Benso Oil Palm Plantation, expressed concern that many appointees to boards of SOEs lack the necessary training in corporate governance, which affects the institutions' efficiency and profitability. "Are the right people being put in there?
