I wish every Ghanaian could listen to this

This how the NPP should be making their arguments.

See, the truth is that, these politicians knows that majority of your journalists don’t have the sense to be making such arguments that’s why they keep getting away all the time. one guy @ my workplace was making the same argument, de diff is he doesn’t have the audience

There are lot of unemployed people and IEA is declaring profit.

We are not angry 😡 ENOUGH.

Kwesi Pratt dier you no go get. Sense

You still have people come and defend institutions that are not supposed to make profits.

Those institutions are made for revenue maximization while’s meeting the public need. Making a profit means they are either illegally getting the money from us by over pricing or they are not doing anything with the money they have given them

Marxist speech, labeling losses as social profit, is a form of newspeak Orwellian propaganda. Kwasi Pratt, a self-proclaimed socialist, is obsessed with redistribution and spending without a grasp of economic realities. He’s telling Ghanaians that losses are the goal and profits are a capitalist construct, so they should reject it.

The large majority of people don’t have the brain to think like that is why our leaders keep getting away with this nonsense. Incompetence is celebrated by foot soldiers.

I think Ghana police ,ministry of health koraaa got profit

No, I disagree. We simply have to engage the Administrators of these spending institutions to understand the cause of these surpluses. Was it because the Ministry of Finance did not release funds early enough for projects to commence within the fiscal year, hence the surpluses? Or was it deliberate on the part of GETFund not to release funds for these projects? But let us acknowledge that it is better for an institution to truthfully declare surpluses than to misapply and misappropriate funds, as we witnessed in the past, without seeing the projects they were meant for. We must now ask whether those surpluses are being utilized in this fiscal year or remain untouched. On the State-Owned Enterprises, I do not follow Mr. Pratt's argument. Is he suggesting that social profit and cash profit are mutually exclusive? Using his own example of the tomato factory, is he saying that if social profit is achieved, we should not go the extra mile to achieve cash profit simultaneously which will cause a positive domino effect on our economy? I believe we need further elaboration from him on that point.

Uncle Pratt is right. However, what we should measure isn’t spending or surplus. It’s d impact on the people. When these state institutions were recording huge “losses”, what was d impact? and now that they are declaring pseudo-profits, are they impacting more lives effectively

Haven’t gone through all the institutions that declared surplus but this argument of social profit wouldn’t make sense in lots of institutions. Can we have case by case argument for all the institutions that are said to be making profits by looking…..

The argument is valid on a random day but coming from a place where such institutions reported huge losses from politicians using these same institutions to heavily enrich themselves and stack millions under thier beds, I’d say this profit making declaration brings me some hope .

I strongly disagree with the senior citizen. His logic is flawed. First, there must be accountability. The surpluses must be understood before allocation and spending. I am not sure the profits were declared just to decorate government accounts. After declaration comes usage. You cannot just spend within the accounting period. That is exactly what the NPP did, and there was nothing to show for it.

@ireluv_simpson Uncle Kwesi is a socialist so he is principled in his position

Every SOEs should have positive growth no matter the value

Ndc knows Ghanaians don’t understand the purposes behind institutions.

What then happens when the government enterprise does not get us producing tomatoes but still run a loss??

Sharp teeth babies are sharpening their teeth for him 😁😁😁

Am loving this angle, bcos of the rush of NPP to get something on this government they are failing to make these valid points.

@Worlalivs

Did they say surplus or profit?

Ow naa, his argument is not entirely accurate. Let me explain why. Let’s say GETFund budgets GHS 100 million in 2025 to construct 100 classrooms, and they are able to deliver all 100 classrooms at a total cost of GHS 50 million, with the classrooms meeting the required standards. How can we then say the institution is not working simply because it was cost-effective in delivering the project? In fact, that kind of thinking can encourage heads of institutions to unnecessarily spend or even exhaust funds simply because the money is available. The proper way to assess performance is not just by looking at how much money was spent, but by looking at what was delivered for the amount spent. If GETFund was able to deliver the 100 classrooms to the required standard for GHS 50 million instead of the GHS 100 million budget, that should arguably be viewed as a positive outcome and evidence of cost efficiency. Also, as a matter of proper financial and project management, you generally prepare a budget based on an approved programme of work and then implement the programme within that framework. You don't simply change the programme midway because you realise that you have money left over. In this example, GETFund shouldn't say, "We have GHS 50 million left, so let's build another 100 classrooms." Any additional project should go through the appropriate planning, justification, approval and budgeting process before resources are committed. Otherwise, you create a dangerous incentive where institutions feel pressured to spend their entire budget just to prove that they are "working." That is not sound financial management. The real question should be: What was the institution mandated to deliver, what did it deliver, what standard was achieved, and how efficiently did it use the resources allocated to it? If the 100 classrooms were the approved deliverable and they were completed to the required standard at GHS 50 million instead of GHS 100 million, I would consider that a demonstration of efficiency, not evidence that the institution was not working.

@Sir_Jay_ come and listen

YEA is making profit

'Capitalism'

A govt interested in optics than actually working. What a waste of time!

Useless NDC party and government. Making useless of the people and resources. How can a government appoint Basintale as a State Agency CEO? How? Ɔmanpanin no abɔdam koraaa nti ɔbɛ yɛ saaa

Its a channel of robing Ghana. Still they should draw their balance sheet for us to know if its worth establishing it. How can they improve it without balance sheet.

@JDMahama must re-write the books before he leaves office

I disagree,the main mandate of any state owned institution is dual in nature, to operate generating returns for government while pursuing social , economic and economic policy. So it's not just for the social benefits as what he sighted .

Wonderful assessments and takes as always

One of the critical thinking "professors" in Ghana. By the time we realise he's a "Messiah", it would have been game over.

I couldn't believe this analysis was from Kwesi Pratt. Are you sure that is Uncle Kwesi Pratt.