On Thursday, August 15, 2024, the Government and the Ministry of Information outlined a series of new initiatives designed to address key challenges, improve operational efficiencies, and enhance the performance of State Enterprises (SEs).
Hon. Joseph Cudjoe, Minister for Public Enterprises, stated at the Ministers’ Press Briefing that this marked a significant step in the ongoing effort of the Government to reform and optimize SOEs in order to better serve the public and contribute to national development.
The Minister stated,
“State Enterprises play a crucial role in our economy, and it is imperative that we ensure they operate at their maximum potential, our new initiatives are designed to address the systemic issues that have hindered their performance and to foster a culture of accountability, efficiency, and innovation”
The use of stringent performance evaluations is one of the main parts of the new strategy. The government intends to conduct a comprehensive evaluation of State Enterprises (SEs) to identify inefficiencies and establish precise performance targets. The creation of individual improvement plans that are tailored to the particular requirements of each business would further complement these assessments.
He said:
“The performance reviews will be conducted in collaboration with independent consultants to ensure objectivity and thoroughness, we want to have a clear understanding of each SOE’s strengths and weaknesses so that we can develop targeted interventions”
The Government is prioritizing capacity building for SE management teams in addition to performance reviews. Specialized training programs would be used for this, with the goal of providing leaders with the knowledge and abilities they need to bring about organizational change and improve operational efficiency. In addition, the Minister emphasized the significance of effective leadership in achieving the desired results.
The Government of Ghana supports the use of technology and data-driven strategies to streamline SE operations and enhance decision-making procedures in modern management practices. Digital tools for better financial management and performance tracking are included in this.
The Minister also gave a hint about the government’s intention to cultivate a culture of accountability within SEs by ensuring that management can be held accountable and setting clear performance goals.
The Minister stated,
“Our goal is to create a culture where performance is measured, results are achieved, and accountability is upheld, we believe that these measures will not only improve the performance of our SOEs but also restore public confidence in their ability to deliver essential services”
The Minister reiterated the Government’s commitment to assisting SEs on their path to greater effectiveness and expressed optimism regarding the potential outcomes.
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