The call to privatize state-owned enterprises in Ghana has gained momentum, with Energy Expert Kwadwo Poku supporting the Asantehene’s suggestion to privatize the Electricity Company of Ghana (ECG), Volta River Authority (VRA), and the Ghana Grid Company Limited (GRIDCo). According to Poku, there are more state-owned enterprises that should also be considered for privatization.
During the commissioning of a 430-kilometre natural gas pipeline by Genser Energy in Kumasi, Poku emphasized the importance of involving the private sector in the establishment and operation of companies. He stated, “It’s about time that the government realizes that it’s not going to work for the government to be involved in setting up companies without involving the private sector, it doesn’t work.”
Poku advocated for the diversification of government-owned entities like VRA and GRIDCo into the private sector to attract more investors and create employment opportunities. He emphasized the need for profitability before listing organizations on the stock exchange, stating, “You cannot list an unprofitable organization on the stock exchange.”
The Energy Expert also highlighted the financial constraints faced by the government and the importance of reevaluating the roles of government versus the private sector. He urged a shift towards reality and decision-making based on what is sustainable for the country’s economic growth.
