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United Voices For Change, a prominent pressure group dedicated to combating corruption and holding the government accountable, convened a press conference today, April 23, 2024, to address what they termed as “STATE-OWNED ENTERPRISES AT THE MERCY OF LOOTING BRIGADES: HEADS MUST ROLL!”
Spearheading the conference, Mr. Sylvestin Ronald Antwi, the Convenor of the pressure group, expressed deep concern over the apparent mismanagement and staggering financial losses incurred by key State-Owned Enterprises (SOEs) in Ghana.
According to him, reports from the Auditor-General have unveiled alarming figures showcasing the deteriorating financial health of these entities, which are integral to the country’s development and economic stability.
He highlighted several SOEs, including COCOBOD and the Ghana Water Company Limited, which have experienced significant financial setbacks over the years.
“COCOBOD, a cornerstone of Ghana’s agricultural sector, has seen its losses skyrocket from GHS 161.3 million in 2017 to a staggering GHS 2.44 billion in 2021.
“Similarly, the Ghana Water Company Limited, responsible for providing essential water services to the populace, has witnessed a troubling trend of financial decline.
“Despite generating a profit of GHS 101.14 million in 2016, the company has spiraled into substantial losses, reaching GHS 2.6 billion in 2019,” he said.
Mr. Ronald also drew attention to the Ghana Electricity Company (ECG), tasked with supplying electricity nationwide, which according to him has reported consecutive losses, culminating in a loss of GHS 1.914 billion in 2021.
“This stark contrast to its previous profits underscores a failure of leadership and accountability within the organization.
“Furthermore, the Ghana Airport Company has faced consistent losses since 2019, with its losses nearly doubling from GHS 231.34 million in 2019 to GHS 434.77 million in 2020,” he added.
In light of these revelations, Mr. Ronald called upon President Nana Addo Dankwa Akuffo-Addo to take decisive action by dismissing the CEOs responsible for the mismanagement of these SOEs.
Failure to do so, he asserted, raises serious questions about the President’s commitment to combating corruption and ensuring accountability within government institutions.
He emphasized that the public must rally behind their cause in the fight against corruption, warning that unchecked corruption among politicians threatens the very fabric of the nation.
However, the pressure group remains steadfast in its demand for concrete action to address the systemic issues plaguing Ghana’s SOEs.
As the nation grapples with these challenges, the call for transparency, accountability, and good governance grows louder, echoing the sentiments of concerned citizens and advocacy groups like United Voices For Change.
Only through collective effort and unwavering determination can Ghana overcome the scourge of corruption and pave the way for a brighter future.
Nana Yaw Owusu/Ashanti Region.
