Govt to sell Bolgatanga meat factory, 16 others
17 non-operational state-owned businesses will be sold, according to the Ministry of Public Enterprises. These organizations include, among others, the State Construction Company, the Bonsa Tyre Factory, and the Bolgatanga Meat Factory. A comprehensive investigation of these businesses has shown that they have developed into costly liabilities for the nation and are costing the state…
17 non-operational state-owned businesses will be sold, according to the Ministry of Public Enterprises.
These organizations include, among others, the State Construction Company, the Bonsa Tyre Factory, and the Bolgatanga Meat Factory.
A comprehensive investigation of these businesses has shown that they have developed into costly liabilities for the nation and are costing the state money.
“From our records, we have 17 defunct entities that the government is taking steps to dispose off. The problem now is that the government is just incurring costs to take care of them while others are just vandalizing assets.
“This is a disturbing situation as far as our public enterprises’ portfolio is concerned,” Joseph Cudjoe, Minister for Public Enterprises said at a press conference on Wednesday.
The Minister went on to say that the Ministry hopes to put some of these businesses on stock exchanges in order to draw investors who can give them new life.
“They are just siphoning money from the government’s purse, and they are just becoming liabilities rather than assets. There are some upon review, we intend to list them on the stock market to get the investing public to have equity stakes in them.
“So, it’s like a cleanup of the portfolio so that we can those that are active to be invested to help them grow and generate jobs for the good people of Ghana,” he added.
