President of the Republic, John Dramani Mahama, has issued a resolute call for a reset of Specified Entities (SEs) under the State Interests and Governance Authority (SIGA) in order to spearhead national transformation.
At a high-level meeting which focused on strategies to revamp Specified Entities and eliminate financial mismanagement, a compelling keynote address delivered by President Mahama emphasised that CEOs of State-Owned Enterprises (SOEs) bear significant responsibilities and he therefore directed them to contribute their utmost to reset their respective institutions.
“Loss-making SOEs will no longer be tolerated. They will be swiftly reformed, merged, privatised or shut down.”
The president assured that under his leadership Specified Entities will be transformed into engines of growth, with SIGA evolving from a passive observer to an empowered enforcer of national interest.
The engagement brought together senior government officials, ministers of state and officials from the World Bank in Ghana, in a bid to realign SOEs so they operate efficiently and effectively. A key highlight of the meeting was the launch of a comprehensive deep dive study of 16 SOEs that control a significant portfolio of state assets.
Undertaken by SIGA, the study aims to provide valuable insights into the current state of SOEs, identify areas for improvement and inform strategies for reform and transformation.
For his part, Michael Kpessa-Whyte, Director-General of State Interests and Governance Authority (SIGA), pledged to work tirelessly in ensuring that SOEs operate with the highest standards of governance, transparency and accountability.
“We firmly believe that our relationship with SOEs must be horizontal, not vertical – a partnership based on mutual respect, shared responsibility and a common goal of improving performance.
The SIGA Director-General observed that the foundation of any high-performing enterprise – whether public or private – is sound corporate governance. “Beyond governance, we must embrace the challenge of transforming our SOEs into world-class enterprises: entities that are not only financially viable but also globally competitive,” he added.
He highlighted the importance of viewing good governance not only as a moral imperative but also a business necessity.
Horticulture is an untapped export revenue source
According to the Ghana Export Promotion Authority (GEPA), the country recorded US$48million from vegetable exports in 2024 – a marked an increase from over US$26million worth of vegetable exports in 2023.
This demonstrates that vegetable production presents a significant opportunity for export diversification and economic growth. However, a Deputy Chief Executive Office of GEPA, Raymond Rashid Kramer, believes that despite significant strides made capturing niche markets in the EU, UK and other major markets, we have only scratched the surface of our potential.
The potential of Ghana’s vegetable industry is immense: a favorable climate, strategic location and hardworking farmers ought to see the country benefit more from this non-traditional export commodity to diversify export revenue.
Mr. Kramer stated that GEPA is ready to support stakeholders improve their yields and exports by aligning them with government’s 24-hour economic policy and the African Continental Free Trade area.
Dr. Felix Kamassah, President-Vegetable Producers and Exporters Association of Ghana, has indicated that farmers can adopt climate-smart agriculture to improve their yields and improve their incomes.
He also said that it would help achieve year-round cultivation, thereby bettering the incomes of the farmers. Indeed, major challenges faced include a lack of irrigation support as well as the high cost of agrochemicals.
To support the sector’s growth, government should create an enabling environment that supports farmers by investing in irrigation facilities and smart agriculture technologies.
The Ghanaian horticultural sector holds significant promise for farmers, processors, input suppliers and investors, with a diverse array of vegetables deeply ingrained in the nation’s cuisine.
To fully capitalise on these opportunities, various interventions are needed. These range from large-scale investments that will require significant investments to initiatives tailored for entrepreneurial farmers and youth employment.
To leverage these opportunities, Ghana must prioritise value chain professionalisation, quality control, infrastructure investment, capacity building, research and market access.
By aligning efforts across the public and private sectors, Ghana can unlock the full potential of its vegetables sector, ensuring sustainable growth and food security for its population.
With an emerging middle class, rapid urbanisation and a growing population, there is rising demand for high-quality vegetables, presenting ample opportunities for growth and investment.
