Kpessa-Whyte: State-Owned Enterprises Must Balance Quality Service and Profitability
Renowned political scientist and governance expert, Dr. Michael Kpessa-Whyte, has urged Ghana’s State-Owned Enterprises (SOEs) to adopt a dual approach that ensures both quality service delivery and financial sustainability.
Speaking at a public forum on economic governance, Dr. Kpessa-Whyte emphasized that SOEs play a critical role in national development and must move beyond being a financial burden on the state. He argued that while their primary mandate is to serve the public, they must also implement efficient business strategies to generate profit and reduce dependence on government subsidies.
“State-Owned Enterprises should not operate as mere social service providers without accountability. They must be structured to deliver high-quality services while ensuring financial self-sufficiency. A well-managed SOE contributes to economic stability, job creation, and national revenue,” Dr. Kpessa-Whyte stated.
He further called for reforms that would enhance transparency, operational efficiency, and corporate governance within SOEs. This, he said, includes minimizing political interference, appointing competent leadership, and enforcing performance-based management systems.
Many analysts have echoed similar sentiments, noting that Ghana’s struggling SOEs require a shift in approach to avoid consistent losses. Reports from the State Interests and Governance Authority (SIGA) indicate that several SOEs continue to record financial deficits, despite receiving substantial government support.
As discussions on economic sustainability gain momentum, stakeholders are expected to push for policies that transform SOEs into productive entities capable of competing in both local and international markets.
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