President Nana Addo Dankwa Akuffo Addo has urged Chief Executive Officers (CEOs) and board chairpersons of State-Owned Enterprises (SOEs) to sit up as the country’s economy faces one of its toughest times in history.
In his keynote address at the maiden State Interest and Governance Authority (SIGA) annual stakeholder meeting being held at Kwahu Abetifi in the Eastern Region, he stated that CEOs and board chairpersons of specified entities “had for a long time been overlooked when blame was being apportioned for the downturn of Ghana’s economic fortunes, with the blame going to sector ministers and the President.”
“We admonish underperforming entities, especially the bottom five to sit up,” he urged.
The president further stated that those CEOs could no longer stay in the shadow while others received the backlash for the country’s problems.
“The time has come for you to own up to this responsibility and take the front stage in our nation’s development. As captains of our industries, you hold some of the keys to unlocking some of Ghana’s full economic potential.
“Jump-starting our economy begins with you, you should be the major drivers of the economy rather than being a financial burden,” he stated.
“Excuses for non-performance will no longer be tolerated….. Steer the ship as an able captain or be kicked out,” he cautioned.
According to President Akufo-Addo, CEOs of State-Owned Enterprises are expected to contribute 30% of the nation’s GDP (GDP).
Additionally, President Akufo-Addo urged SOEs to make use of the African Continental Free Trade Area Secretariat to expand trade opportunities within Africa.
This, he explained, is because “it is our responsibility to increase our exports as well as the issue of food and security is concerned.”
