Govt outlines strategic reforms for SOEs

In a bid to improve the efficiency and performance of State Enterprises (SEs), the Government has launched a series of new initiatives aimed at addressing longstanding challenges and optimizing operations.
The announcement was made by the Minister for Public Enterprises, Joseph Cudjoe, during a press briefing today, marking a significant step in the government’s efforts to reform State-Owned Enterprises (SOEs) and enhance their contribution to national development.

Rigorous performance assessments to drive efficiency
A key component of the new strategy is the introduction of rigorous performance assessments for SEs.
The government plans to conduct detailed evaluations of these enterprises to identify inefficiencies and establish clear performance benchmarks.
These assessments will be carried out in collaboration with independent consultants to ensure objectivity and provide a thorough understanding of each enterprise’s strengths and weaknesses.
“The performance reviews will allow us to develop targeted interventions that are tailored to the specific needs of each enterprise,” Mr Cudjoe stated.
“Our goal is to foster a culture of accountability, efficiency, and innovation within our SEs.”

Capacity building and leadership training
To support the transformation of SEs, the government is prioritizing capacity building for management teams.
This will involve specialized training programs designed to equip leaders with the skills and knowledge necessary to drive organizational change and improve operational effectiveness.
The Minister emphasized that strong leadership is critical to achieving the desired outcomes.

Adoption of modern management practices
Another significant aspect of the new initiatives is the adoption of modern management practices, including the use of technology and data-driven approaches.
The government is advocating for the implementation of digital tools to streamline operations, improve financial management, and enhance performance tracking within SEs.

Fostering a culture of accountability
The government is also committed to fostering a culture of accountability within SEs.
This will involve setting clear performance targets and establishing mechanisms to hold management accountable for results.
Mr Cudjoe expressed confidence that these measures will not only improve the performance of SEs but also restore public trust in their ability to deliver essential services.
“Our aim is to create an environment where performance is measured, results are achieved, and accountability is upheld,” the Minister said.
“We believe that these initiatives will lead to significant improvements in the operations of our State Enterprises, ultimately benefiting the public and contributing to national development.”
The government remains optimistic about the potential outcomes of these initiatives and reiterated its commitment to supporting SEs in their journey towards greater efficiency and effectiveness.