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The Finance Minister, Dr. Cassiel Ato Forson, has disclosed the operational and financial risks faced by State-Owned Enterprises (SOEs) and joint venture companies.
According to him, the dire financial situation of these entities deserves immediate attention for restructuring.
Speaking on Monday, March 3, 2025, at the National Economic Dialogue, Dr. Ato Forson stated that;
“SOEs and joint venture company showing mountain operational and financial risk. Almost all state-owned enterprises are in the red. From ECG to the ADB, almost all of them are in the red.”
He added that “In fact, beginning from the year 2021, 2022, and 2023, you will see that COCOBOD polled some profit of GHS2.2 billion in the year 2023. This is artificial profit.
“This profit is because they failed to service their debt because of the debt suspension…This debt still exists and so we will need to take action to restructure most of the SOEs,” Dr. Forson expressed amid pointing out that even though COCOBOD reported a profit of GHS2.2 billion in 2023, this profit was artificial.
The National Economic Dialogue was held at the Accra International Conference Centre and brought together policymakers, economists, business leaders, and civil society organizations to discuss key economic strategies to address Ghana’s ailing economy.
The outcomes are expected to shape Ghana’s economic policies and influence the 2025 National Budget, which Finance Minister Dr. Forson will present on March 11, 2025
