The State Interests and Governance Authority (SIGA) has announced a historic engagement between President John Dramani Mahama and the Chief Executive Officers (CEOs) of state-owned enterprises (SOEs), marking a significant step towards realigning and revitalizing Ghana’s public sector.
The high-level meeting is set to take place on March 13, 2025, at the Kempinski Hotel in Accra and is expected to shape the future of SOEs under President Mahama’s administration.
“The engagement will bring together senior government officials, ministers of state, and officials from the World Bank in Ghana, underscoring the importance of collaboration and cooperation in driving Ghana’s economic development.”
State Interests and Governance Authority (SIGA)
A key highlight of the engagement will be the launch of a comprehensive study on 16 key SOEs that control a significant portion of state assets.
Conducted by SIGA, the study seeks to assess the current state of SOEs, identify inefficiencies, and recommend strategies for reform and improved governance.
Speaking on the upcoming engagement, Professor Michael Kpessa-Whyte, Director-General of SIGA, emphasized the significance of the meeting in promoting transparency, accountability, and good corporate governance.
“We are excited to facilitate this important engagement between President Mahama and the CEOs of SOEs. This marks a major step towards fostering corporate governance, ensuring efficiency in state enterprises, and driving economic growth. The findings from our in-depth study will provide a solid foundation for the much-needed reforms in the sector.”
Professor Michael Kpessa-Whyte, Director-General of SIGA
The engagement is part of a broader government strategy to reposition SOEs as key drivers of economic development.
It aligns with recommendations made during the recent National Economic Dialogue convened under President Mahama, which called for the restructuring and strategic realignment of state-owned enterprises to maximize their impact on national growth.
Deep Dive Study to Guide Policy and Reform
The deep dive study, set to be unveiled during the meeting, will provide critical insights into the performance and operational challenges of Ghana’s SOEs.
The findings are expected to inform policy decisions, ensuring that state entities operate with greater efficiency and deliver optimal value to the Ghanaian economy.
SOEs in Ghana have long been criticized for inefficiencies, mismanagement, and lack of financial sustainability. The government’s renewed focus on restructuring these entities is intended to address systemic weaknesses, enhance transparency, and improve their contributions to national development.
Beyond the immediate restructuring efforts, the engagement is expected to foster stronger partnerships between the government,
SOEs, and key stakeholders, including the private sector and international development partners such as the World Bank. The participation of international financial institutions underscores the importance of governance and efficiency in the management of public assets.
SIGA’s commitment to good governance, transparency, and accountability will be at the core of the discussions. The meeting is expected to highlight best practices for SOE management, with a focus on operational efficiency, financial discipline, and strategic decision-making.
The engagement is anticipated to set the tone for a new era of SOE management, one that prioritizes value creation, profitability, and long-term sustainability.
Stakeholders expect concrete policy directions from the meeting, including measures to enhance corporate governance, reduce financial losses, and promote innovation within SOEs.
In its statement, SIGA called on Ghanaians to follow the proceedings of the engagement closely, as the outcomes will have a direct impact on the nation’s economic trajectory.
For further inquiries, SIGA urged the public to reach out to Afua Frempong, Corporate Affairs Manager at SIGA, via email at afua.frempong@siga.gov.gh or by phone at 0266000108.
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