The Precious Minerals Marketing Company (PMMC), now operating as the Ghana Gold Board Company (GOLDBOD), has been adjudged the Overall Best Specified Entity for 2024 at the Public Enterprise League Table (PELT) Awards organised by the State Interests and Governance Authority (SIGA).
The awards recognise outstanding performance among state-owned enterprises, with PMMC emerging as the top performer during the year under review when Nana Akwasi Awuah served as Managing Director.
Triple Award
At the ceremony, PMMC secured three major honours: Overall Best Specified Entity 2024, State-Owned Enterprise of the Year 2024, and Most Profitable State-Owned Enterprise of the Year 2024.
The company competed against other leading state institutions, including the Bui Power Authority, Environmental Protection Agency (EPA), Consolidated Bank Ghana (CBG), and the Volta River Authority (VRA).
The recognition highlights PMMC’s strong financial and operational performance, positioning it as one of the most successful state-owned enterprises in the country for the year under review.
Turnaround
In a statement, former Managing Director Nana Akwasi Awuah expressed gratitude for the achievement, attributing the success to teamwork and dedication.
He extended appreciation to the Board, Management and staff of PMMC, noting that their collective effort was instrumental in securing the awards. According to him, the recognition reflects years of hard work aimed at transforming the company.
“For years, my team and I had been striving to turn around a struggling company, and it is heartwarming to see that the hard work has borne fruit,” he stated.
From Loss to Profitability
Mr Awuah disclosed that the company inherited significant financial challenges, including debt burdens, outstanding statutory obligations, and difficulties in meeting salary payments.
However, through strategic reforms and committed leadership, the organisation was able to reverse its fortunes and achieve profitability by the end of 2024.
He noted that the transformation was not achieved in isolation, highlighting the role of SIGA in conducting performance evaluations and providing constructive feedback to guide improvements.
“We took the feedback in good faith and resolved to do better,” he added.
Sustained Excellence
Reflecting on the achievement, the former Managing Director described it as a proud moment, having led efforts to revitalise what he termed a near-moribund company.
He expressed optimism that the awards would serve as motivation for the current Board, Management and staff to sustain and build upon the gains made.
