Government says it expects nothing but a stellar performance from State Owned Enterprises (SOEs) and statutory corporations.
Minister of Finance, Sosten Gwengwe, made the remarks in Lilongwe during a signing ceremony for the 2023/24 shareholder’s letters of expectations for state-owned enterprises and statutory bodies.
Speaking during the ceremony Gwengwe said SOEs and all statutory bodies have a contract to deliver both to the Government as an investor and the people of Malawi who expect to be served with quality products and services.
The minister said the current administration expects nothing but a stellar performance from the SOEs and where there are issues his Ministry is ready to support them to deliver to the expected mark.
“There are other parastatals that have done well others poorly. We want to inculcate a sense that the Chief Executive Officers (CEOs), Director Generals together with their Board Chairpersons should embrace. The government wants the provision of high-quality services hence the signing ceremony,” said Gwengwe.
Adding weight to this stance taken by Government, Comptroller of Statutory Corporations, Peter Simbani, said going forward government will intensify tracking of key performance indicators of all state-owned enterprises and statutory bodies.
“We will intensify tracking of all Key Performance Indicators (KPIs) to ensure what they are signing today is followed to the letter,” said Simbani.
During the ceremony, Gwengwe announced that his ministry will start ranking all SOEs and statutory bodies based on their profitability and service delivery. Egenco was named a top performer in the just-ended fiscal year. William Liabunya, CEO of Egenco said against all odds with cyclone Gombe and Freddy in the background they became tops.
“Though we were busy with the rehabilitation of Kapichira, we ensured that we comply with everything the government requires us to submit,” said Liabunya.
The ceremony drew the participation of CEOs, Director Generals and Board Chairpersons of the 72 state-owned enterprises and statutory bodies.