You can’t list an unprofitable company on Stock Exchange – Energy expert on Asantehene’s suggestion to privatise ECG, VRA, GRIDCO
An energy expert, Kojo Nsafoah Poku, has stated that it is not feasible to list an unprofitable company on the Ghana Stock Exchange.
According to him, such a venture will not yield the desired outcome.
“I agree with the Asantehene. There are many more state-owned enterprises that I think must be privatised. 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,” he said on Key Points, April 20, 2024.
Mr Poku who is the Chairman of the Dr Bawumia’s Manifesto Committee, said this in response to a suggestion by the Asantehene, Otumfuo Osei Tutu II that government should focus on formulating policies to improve various sectors of the economy.
Privatise GRIDCo, VRA and ECG – Otumfuo tells govt
Speaking during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy, in Kumasi on Wednesday, April 17, he said “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. The government should concentrate on policies and involve the private sector and you can attract more investors into the country which will create more employment.
“VRA and others are all government establishments, let’s give it out and diversify them into the private sector and get more money there and get the right people to do it. GRIDCo and others let’s give them the money and get the qualified people, diverse government from it and let them work. Electricity Company is in a situation where we don’t know, but that also must be diversified and given to the private sector,” The Otumfuo suggested.
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