The Minister for Public Enterprises, Joseph Cudjoe, has revealed that 60 state entities have yet to sign performance contracts, raising serious concerns about accountability and efficiency within these organizations.
The minister disclosed that key entities such as the Accra Digital Centre, AirtelTigo Ghana Ltd, Ghana Development Bank, Ghana Exim Bank, Ghana Reinsurance Company, Kumasi City Market, and Ghana Tourism Development Company Ltd are among those that have not formalized their performance agreements.
Mr. Cudjoe urged the media to shift its focus to these non-compliant entities, stating, “We need to draw attention to these enterprises rather than solely spotlighting those ranked poorly on performance tables.”
The absence of signed performance contracts is a critical issue, as these agreements are essential for setting clear objectives and measuring the effectiveness of state-owned enterprises. Without them, it becomes difficult to hold management accountable for their operations.
Mr. Cudjoe noted the importance of these contracts, emphasizing that “performance contracts are crucial for ensuring accountability within state-owned enterprises.”
His comments come as a comprehensive evaluation of 16 key State Enterprises is underway, part of the Personal Financial Management (PFM) for Service Delivery Programme, funded by the World Bank and the Government of Ghana. This evaluation aims to assess the performance of these enterprises and develop recommendations to enhance their profitability and overall contribution to the national economy.
While the government has taken steps to improve the performance of state-owned enterprises, the lack of signed contracts for 60 entities remains a significant concern.
Mr. Cudjoe reassured stakeholders that these entities “will continue to play a vital role in the economy,” but stressed the urgency of signing performance contracts to ensure accountability, transparency, and effective management of public resources.
