State-Owned Enterprises: Government Announces Plans To Sell 17 Public Companies To Private Businesses

• Ghana is planning to dispose off some troubled state-owned enterprises under a divestiture programme
• Minister for Public Enterprises Joseph Cudjoe has said the government is taking the decision because they were stressing the state financially
• He did not disclose when the divestiture will start but said government was keen on getting rid of them

Nana Akufo-Addo’s administration has disclosed plans to sell off some 17 troubled state-owned enterprises under a divestiture programme

Joseph Cudjoe, who heads the ministry for public enterprises, has said the divestiture will save the state from continuous spending on them.

According to a Joy News report, the minister said the government wants to “get rid of them.”

“These are defunct assets that you would want to get rid of them so that you don’t continue to spend on them,” he was quoted by Joy News.

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He said some ministries have also expressed their intention to use some of the defunct assets for flagship initiatives like the One District, One Factory run by the trade ministry.

The agric ministry may also use some of the defunct companies for the Planting for Food and Jobs programme, Cudjoe said.

Labour Calls Off Planned Strike After Government Agrees To Exclude Pensions From Debt Restructuring Programme

Meanwhile, YEN.com.gh has reported in a separate story that a planned strike by organised labour on December 27, 2022 as was announced previously.

Organised labour have said they have rescinded the strike action because they have secured assurance from government that pension funds will not be touched to off set its debts under the domestic debt exchange programme.

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Labour strike called off after govt agrees to exclude pensions from debt restructuring

The TUC has said they will still explore viable ways with government to find a solution to the country's debt challenge.

Ofori-Atta Hopeful 2023 Will Be Ghana’s Turnaround Year

Also, finance minister Ken Ofori-Atta has said Ghana's economy will bounce back stronger in the year 2023.

Giving updates on the economy in a video posted on the finance ministry's Facebook page, he said he is confident stronger foundations would be built for the economy in 2023 and beyond.

He appealed to Ghanaians to support the government's various interventions to kick-start the recovery of the economy.

Source: YEN.com.gh