Finance Minister 'lied' that most SOEs are in the red – Ex-Minister for Public Enterprises

Former Public Enterprises Minister, Joseph Cudjoe, has strongly rebutted claims made by Finance Minister Ken Ofori-Atta regarding the financial health of state-owned enterprises (SOEs) in Ghana. Cudjoe asserts that the Finance Minister inaccurately portrayed the majority of SOEs as operating at a loss. He argues that while some SOEs may face challenges, many are actually generating profits and contributing positively to the economy.

Cudjoe's comments come in response to statements made during a recent budget presentation, where Ofori-Atta indicated that most SOEs were struggling financially. Emphasizing the need for accurate information, Cudjoe called for a more nuanced understanding of the performance of these enterprises, highlighting their potential role in economic growth and job creation.

His remarks underscore ongoing debates about fiscal management and transparency within government entities. The discussion raises critical questions about how financial assessments are conducted and reported, as well as the implications for public policy and investment in Ghana’s state-owned sectors moving forward.