Cudjoe says lucrative salaries are needed to attract quality professionals to SOEs
‘If you pay peanuts, you will get monkeys to work with’ – Public enterprises minister
Our leaders use SOEs to reward their friends – Kofi Bentil
Minister for Public Enterprises, Joseph Cudjoe, has said that the public should not be concerned about the salary and benefits of the heads of State-Owned Enterprises (SOEs).
The minister said that the public should not look at the salaries of the heads of the SOEs in isolation but they should also look at the value these heads bring to the country.
Cudjoe, who made these remarks at a press briefing on April 27, added that lucrative salaries are needed in order to attract qualified professionals to the state agencies.
“… this a market thing, if you pay peanuts, you will get monkeys to work with … So, if the public sector wants to attract competent people, like myself then be willing to pay good money. But, the most important aspect is (to) exert the performance from them. You need them (competent people) to grow the companies, to expand, (and) to contribute that is what is important.”
“… if you look at salary, salary, salary and pay small, small, I’m saying you cannot attract competent people to take up the jobs, that we should understand. We have flocked the issue of taxpayers’ money, taxpayers’ money should be subjected to value generation and value generation means if you are paying someone $100,000 a month and the person generates $1 billion in value to you are generating value, if you pay GH¢800 a month and the person generates value of GH¢500 your GH¢800 is rather a loss, even though you pay small salary.”
“That is what we should begin to understand and rather look at the performance end, i.e., don’t look at the salaries of SOES in isolation look at it in terms of performance,” the minister said.
The minister made these remarks after revelations of the huge salaries and benefits given to heads of SOE raised a lot of public outcries.
Some Ghanaians, including the vice president of IMANI Africa, Dr. Kofi Bentil, have alleged that successive leaders of Ghana have been using State-Owned Enterprises (SOEs) to reward their friends.
According to Dr. Bentil leaders of Ghana have been using SOEs as an extension of their wealth.