He believes this will help culminate in high performance among heads of public enterprises, improve revenue performance and change the old aged narrative around those entities.
Speaking at the maiden Public Enterprises League Awards night in Accra on June 30, Joseph Cudjoe said the Akufo-Addo administration has since 2017 witnessed some improvements among enterprises owing to certain measures put in place.
He said these measures, which are beginning to yield some results, are geared toward addressing the old age problem among many public enterprises.
"The President’s vision to solve problems of the public enterprises is what led to establish SIGA to represent government’s interest and oversight the state enterprises to deliver the results we desire."
“Currently we are strengthening the current performance contract management regime, which hitherto was just a routine. We are also developing the State Ownership Policy, a document which will enable us deploy investment portfolio management strategies to ensure that each of the entities deliver the results we all desire,” he added.
The minister stressed that over the years, public enterprises have been impacted by high indebtedness, loss-making, non-performances and collapses of state entities dating as far back as independence.
To mitigate this, the minister said the deployment of various policy decisions such as Public Enterprises League Table are expected address problems among public enterprises.
He said the PELT is envisaged to promote innovation in the management of the public enterprises and trigger a derived motivation on the part of the boards and CEOs who seek to solve the problems of the public enterprises – high indebtedness, loss making, inefficiencies, low innovation, lack of research and development
Joseph Cudjoe who is also the main brain behind the PELT awards said the mechanism will in the long-term result in the restructuring of state entities geared towards industrial, corporate and institutional growth to create expansion of the economy for job creation.
Meanwhile, the maiden edition of the PELT awards night saw various public enterprises and their respective CEOs take home various honors for their sterling leadership and transformation.
See the full list below
1. Overall Specified Entity of the year
- TDC Development Company Limited
2. SoE of the year
-TDC Development Company Limited
3. Regulator of the Year
-Driver Vehicle and Licensing Authority
SPECIAL AWARDS
4.Most Digital Specified Entity
-Driver Vehicle and Licensing Authority
5. Best Inter-trading Specified Entity
- Food and Drugs Authority
6. Most Innovative SOE
-Volta River Authority
7. Most Innovative Regulator
-Gaming Commission of Ghana
8. Most Compliant Regulator
-Environmental Protection Agency
9. Most Compliant SOE
-Ghana Irrigation Development Authority
10. Most Efficient Regulator
-Water Resources Commission
11. Most Financially Sustainable Regulator
-Food and Drugs Authority
Minister for Public Enterprises, Joseph Cudjoe