SEC positions SOEs to perform better

Mr Asamoah-Boateng  giving his addresss.

Mr Asamoah-Boateng giving his addresss.

The Executive Chairman of the State Enterprises Commission (SEC), Stephen Asamoah- Boateng, has stated that the Commission has been well positioned to effectively play its oversight role over State Owned Organisations (SOEs).

The Commission’s mandate is to ensure the SOEs, operate efficiently, effectively and profitably to transform the economy.

He explained that the commission had failed to fulfil its mandate in ensuring management in SOEs  with which had led to some huge debts.

The situation, Mr Asamoah-Boateng blamed on series of factors, including weak supervision, appointment of mediocre people and negligence of past governments, adding, however, I  have  put in measures to improve performance.

Mr Asamoah-Boateng was speaking at a press soiree in Accra on Tuesday, for some selected journalists to explain the performance of SOEs, their weaknesses, challenges and success stories in the past two years.

Enterprises presented included Data Commission (DC), Food and Drugs Authority (FDA), Fair Wages and Structure Commission and Health Facilities, Regulatory Agency (HFRA).

According to Mr Asamoah-Boateng, “there is an impending restructuring of the commission that would create a single entity to have oversight and management responsibility over all SOEs and other joint venture companies.

He disclosed that until his appointment in April last year, the accounts of almost all SOEs had not been audited and there were lapses in their operations saying “the issue of state-owned enterprises and their businesses are things that need attention but they have been left unattended to for a long time and we’ve started working on them.

“Under my watch almost all SOEs have an up to date financial accounts and the rest have shown the commitment to follow suit,” Mr Asamoah-Boateng noted.

Representatives of the SOEs assured Ghanaians of better years ahead and applauded  President Nana Addo Dankwa Akufo-Addo for giving them the needed support to work effectively and efficiently.



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