President Akufo-Addo has urged Chief Executive Officers (CEOs) and board chairpersons of State-Owned Enterprises (SOEs) to sit up as the country’s economy faces one of its toughest times in history.

He said the CEOs and board chairpersons of specified entities “had for a long time been overlooked when blame was being apportioned for the downturn of Ghana’s economic fortunes, with the blame going to sector ministers and the President.”

“We admonish underperforming entities, especially the bottom five to sit up,” he urged.

According to President Akufo-Addo he expects the CEOs of State-Owned Enterprises to contribute 30 percent to the nation's Gross Domestic Product (GDP).

“It is unacceptable for specified entities put together to control half of the nation’s assets to contribute less than five percent to the nation’s GDP,” he added.

He further entreated managers of the State-Owned Enterprises to “reflect deeply on our nation’s current situation – what your contribution has been and what you can do to help turn things around.”

President Akufo-Addo also urged SOEs to leverage the African Continental Free Trade Area Secretariat to develop intra African trade opportunities.

This, he explained, is because “it is our responsibility to increase our exports as well as the issue of food and security is concerned.”