Banking consultant Dr Richmond Atuahene has called for the transfer of management of non-strategic state-owned enterprises (SOEs), including GIHOC Distilleries Company Limited and State Transport, to the private sector, arguing that they place unnecessary strain on public finances.

He raised concerns about the financial burden associated with some SOEs in the wake of government’s transition from the International Monetary Fund’s Extended Credit Facility programme to a new Policy Coordination Instrument (PCI) framework.

Following the successful completion of the IMF-supported programme, government has indicated its intention to engage the Fund under the PCI arrangement, which is a non-financing framework designed to provide technical assistance, policy coordination and support for investor confidence without direct financial disbursement.

Officials say the PCI is expected to strengthen Ghana’s macroeconomic management and support its long-term ambition of achieving investment-grade credit ratings.

They further argue that attaining investment-grade status could help reduce borrowing costs for both government and the private sector, attract long-term investment, boost foreign direct investment, and improve access to affordable financing for infrastructure and private sector growth.

Speaking in an interview on Channel One TV on Monday, May 18, 2026, Dr Atuahene questioned the continued state involvement in certain enterprises.

“GIHOC, state transport and others should all be in the private sector. Why do we spend money on them?” he asked.

He argued that private sector operators were delivering services more efficiently than some state-run institutions.

“If OA and VIP are making good money, then you hear that State Transport, you cannot even book online. What a hell. Let’s get rid of some of the SOEs and make them efficient so that we don’t have to come and sit down and talk about public sector debt,” he added.