Renowned US-based Ghanaian legal scholar, Professor Kwaku Asare, popularly known as Kwaku Azar, has expressed concerns about the governance of Ghana’s State-Owned Enterprises (SOEs), describing the system as a “charade” that prioritises political interests over efficiency and accountability.
In a social media post, Prof. Kwaku Azar criticised the excessive benefits enjoyed by SOE Chief Executive Officers (CEOs) and the political pressure exerted on them to divert state resources to party loyalists. According to him, many SOE heads are not treated as professional managers but as “strategically positioned party operatives tasked with using state resources to serve political interests.
He argued that instead of focusing on running efficient enterprises, they are often compelled to spend part of their working day on television defending the party and the government. This is an obligation that has no place in a well-governed SOE.
The boards that grant these CEOs their lucrative contracts are fully aware of these unwritten obligations, and their oversight (or deliberate lack thereof) is shaped by this understanding.
“This is not how to run profitable and sustainable SOEs. This is a system of institutionalized giveaways that erodes efficiency, accountability, and long-term viability.” He wrote.
In a rallying call for action, he urged Ghanaians to support what he calls OSOSO(Operation Save Our State-Owned Enterprises), warning that failure to act could have dire consequences for the nation’s economic future.
Prof. Azar’s remarks come at a time when SOEs in Ghana have faced increased scrutiny over financial mismanagement, inefficiencies, and political interference. His call for reform is expected to reignite debates on how best to manage state enterprises to serve national rather than partisan interest
Discussion about this post