Ghana to list 10 state-owned enterprises on stock exchange

President John Dramani Mahama has announced plans to list 10 state-owned enterprises (SOEs) on the Ghana Stock Exchange. The move is intended to improve corporate governance, increase accountability, and reduce political interference in the management of public entities.

Speaking at an event in New York, the President noted that transforming these businesses into public companies would allow Ghanaians to own shares and benefit from their performance. He specifically addressed the issue of political cycles, where changes in administration often lead to the dissolution of boards and the removal of CEOs. Listing these companies is expected to make such partisan interventions more difficult.

The initiative follows reports of fiscal strain, with the International Monetary Fund noting that aggregate SOE liabilities reached approximately GH¢282 billion in 2024. The President highlighted that the financial performance of these enterprises has improved, with a combined net profit of nearly GH¢19 billion reported by the State Interest and Governance Authority (SIGA).

Under the new framework, executive compensation and board terms will be tied to verified financial returns and public service delivery to discourage entitlement and operational losses.