Protecting state assets in Ghana is crucial for sustainable development and good governance.
These assets—ranging from public infrastructure to natural resources—are meant to benefit the entire population.
Mismanagement, corruption, and neglect erode public trust and hamper economic growth and social progress.
Accordingly, Hon. Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu, has emphasized that the Protection of State Assets Bill represents a definitive and lasting solution to the pervasive issue of State Capture.
According to Ablakwa, the bill is designed to safeguard public assets from being exploited for private gain, ensuring that national resources are managed transparently and equitably.
He stressed that this legislative measure is crucial in curbing the entrenched corruption and misuse of state resources that have plagued governance, promising to restore public confidence in the management of the country’s wealth.
“…I initiated formal steps to re-present to the 9th Parliament our Private Member’s Bill known as the Protection of State Assets Bill which seeks to prohibit politicians and politically exposed persons from buying state assets.
“I am extremely confident that it shall be passed by this 9th Parliament and President Mahama will assent to it”.
Hon. Samuel Okudzeto Ablakwa
Ablakwa highlighted that it is particularly encouraging to see the unwavering commitment and principled stance on this issue, regardless of whether his party, the NDC, is in government or in opposition.
He emphasized that this consistency reflects a genuine dedication to protecting the nation’s interests and upholding the rule of law.
Ablakwa further noted that such steadfastness is essential in fostering trust and accountability, demonstrating that their actions are driven by a commitment to the public good rather than political convenience.
He firmly pledged that the fight against State Capture would not waver, vowing that this pervasive threat to good governance and public trust will be decisively overcome.
The MP assured that through relentless effort and unwavering commitment, the mechanisms and individuals perpetuating State Capture will be dismantled.
Accountability in State Asset Management Urged
Furthermore, proper management of state assets ensures that resources are used efficiently and for the public good.
It also prevents the unnecessary depletion of assets, ensuring they remain available for future generations.
As such, Prof. Stephen Kwaku Azar Asare expressed deep concern over the alleged transaction involving state assets.
He questioned whether this transaction led to any financial loss to the state, and scrutinized the potential economic impact on public resources.
He emphasized the importance of determining whether such a loss if incurred, was a result of deliberate and willful actions.
“Furthermore, lessors entrusted with the sale of government property act as fiduciaries and are obligated to act in good faith. A failure to uphold this duty not only breaches their fiduciary responsibilities but also undermines public trust and potentially violates the law.
“It must be emphasized that such transactions do not become legal simply because they were executed under the guise of official authority or through procedural compliance”.
Prof. Stephen Kwaku Azar Asare
Prof. Asare asserted that any transaction resulting in willful financial loss to the state constitutes a serious breach of both criminal and civil obligations, regardless of whether it adhered to administrative procedures or received official approval.
He emphasized that legal authority or formal sanction cannot absolve actions that undermine fundamental legal and ethical standards.
Such violations, he noted, transcend procedural compliance and strike at the core of responsible governance, accountability, and the rule of law. “ It goes without saying that such a transaction is inherently void”.
Asare contended that the reckless and indiscriminate disposal of state assets must be brought to an end, as it not only erodes public trust but also depletes valuable national resources.
He emphasized that such practices undermine the principles of accountability, transparency, and sustainable governance, which are essential for maintaining public confidence and ensuring responsible stewardship of the nation’s assets.
Asare called for a more rigorous framework to safeguard state properties and ensure their management aligns with the broader interests of the public and future generations.
READ ALSO: Davey Pushes for UK-EU Customs Union Amid Trump Tariff Threats
