Poor Governance caused 2018 financial crisis – Expert endorses Mahama’s SOE review

A recent analysis has attributed the 2018 financial crisis in Ghana to poor governance practices, reinforcing President John Mahama's call for a review of state-owned enterprises (SOEs). Economic expert Dr. Edward N. A. Agyekum highlighted that ineffective management and lack of transparency within these entities significantly contributed to the fiscal turmoil. He emphasized that many SOEs have been plagued by inefficiency and corruption, leading to substantial financial losses.

Dr. Agyekum supports Mahama's initiative to reorganize SOEs as a means to enhance accountability and operational effectiveness. He argues that a thorough evaluation could help identify systemic issues and implement necessary reforms, ultimately stabilizing the nation's economy. The expert's remarks resonate with broader calls for improved governance structures across public institutions in Ghana. By focusing on accountability and efficiency, stakeholders hope to prevent future crises and foster sustainable growth. As discussions around SOE reform intensify, experts stress the importance of addressing governance challenges as crucial for economic resilience moving forward.