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By Ghana Web Published: February 17, 2022 4:05 PM
Deputy Managing Director of Ghana Stock Exchange, Abena Amoah, has said about 7 state-owned institutions have been shortlisted for this year’s listing on the stock market.
This comes after two committees – steering and technical [committees] -were set to review the performances of about 30 companies.
She noted that the government of Ghana owns most of the market-ready companies, however, some jointly operate with private sectors.
Speaking at a press briefing in Accra, Abena Amoah said, “The GSE and SIGA have formed two committees, a steering and a technical committee. And throughout the whole of last year, we worked to review about 30 companies. Out of that, we came out with the first shortlist of about 18 companies, and we have narrowed it down to the first 7 companies that we believe are market-ready. Many of these companies, the Government of Ghana owns 100% in them. There are some of them in the larger group that are in joint ventures with other private sectors.”
Speaking during a meeting with the media in Accra, Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, noted that the move forms part of efforts to make state entities profitable and capable of contributing significantly to the development of the country.
In 2018, 2019, state enterprises and specified entities run at a 200% loss, a report by the Auditor-General showed.
As of 2020, state institutions run at a loss of GH¢5.3 billion.
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