An energy expert Kwadwo Poku has expressed support for the call by the Asantehene to privatize some government entities. He said government companies that are making profits should be listed on the stock market to attract private investors.
“I agree with the Asantehene. There are many more state-owned enterprises that I think must be privatized,” he told TV3.
Adding, “I am for the divestiture of some state-owned enterprises. However, before you can list them, the company should be making profit. You cannot list an unprofitable organization on the stock exchange.”
Kwadwo Poku’s comments follow the suggestion by the Asantehene Otumfuo Osei Tutu II that the government should release some entities into private hands to spur growth. The Asantehene was speaking at the commissioning of the 430km Genser Energy gas pipeline in Kumasi.
According to the Asantehene, “The government should be looking at policies instead of being involved in industry and all that. It doesn’t work,” the leader of the Ashanti people stated.
“It’s about time Ghana realizes that it’s not going to work for the government to be setting up companies. Government should be concerned with policies and the private sector should be involved in setting up the companies. It works that way and therefore it will attract investment.”
“VRA is a government establishment, let’s give it out and divert it to the private sector and get the right people to man it so that we make money. GRIDCO is a private company, let’s give them the money, get qualified people and let them do it. ECG is in a situation we do not know. That company must be given to a private entity.