• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, May 17, 2022
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
No Result
View All Result
The Vaultz News
No Result
View All Result

You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities

April 6, 2022
Stephen M.CbyStephen M.C
in Economy
0
Ghana Sets to Establish Financial Mechanism Against Climate Change Impact

Ken Ofori-Atta, Finance Minister of Ghana

Ken Ofori-Atta, the Minister of Finance, has criticised the State Entities in the country for only taking from the country but contributing less to the development of the country, Ghana.

According to the Finance Minister, many State Entities don’t comply with the Controller and Accountant General’s Department, and as such, the government loses a significant amount of revenues through various infractions. However, he thus, lauded the Director-General for State Interests and Governance Authority (SIGA), Ambassador Edward Boateng, for improved compliance with regards to accounts reports and audit of Specified State Entities since his appointment.

“Today’s discussion as stated earlier has to do with the compliance rate of our Specified Entities. Sometimes, I wonder how difficult it is to audit and comply with the office of the Controller and Accountant General’s Department. The government has an interest in these entities, yet they fail to audit their accounts to give us what the government has invested into them. You are taking from the government but you don’t want to contribute to our [Ghana] growth. Sometimes, I wonder if that is how most of us here would treat our own businesses. Nonetheless, I would want to congratulate Ambassador Edward Boateng for his inputs and hard work as the number of State Owned Entities (SOEs) covered have increased from 19 to 47 as already stated by the Controller and Accountant General, Mr. Kwesi Bosompem.”

Ken Ofori-Atta

Ken Ofori-Atta, meanwhile, admonished Specified Entities to improve on their corporations and submission of audit accounts and reports to contribute to the growth of Ghana’s GDP. The Finance Minister, moreover, tasked the Chief Executive Officers (CEOs) of the various Specified Entities to portray commitment in discharging their duties.

RelatedPosts

Ghana Among 3 African Countries Likely To Hike Policy Rate In May

Introduce Cash Transfer Scheme To Cushion Citizens Against Rising Cost of Living –  Dr. Opoku

ISSER Urges Gov’t to Bring Back Tollbooths As a Fiscal Measure

Improving Compliance Rate

Ambassador Edward Boateng, the Director- General for SIGA, on his part, called for collaborative efforts and indulgence. He subsequently called for an improvement in the compliance rate to promote efficiency among State Entities.

edward boateng
Ambassador Edward Boateng, Director-General, SIGA

“There is much to be done in terms of our compliance habit with regards to accounts audit and reports. Our set goal is already to contribute 30% of Ghana’s GDP rate and as tedious as it sounds, it’s still not far from us. After the presentations from the Controller and Accountant General’s Department, with the few entities captured on the list, we could see some improved results. We can only change the narrative of inefficiency and contribute to the country’s growth if we improve our compliance rate. I am very passionate about this and I need to communicate that to all. We need to connect the dots, work together and achieve the goals ahead of us.”

Ambassador Edward Boateng

Hon. Joseph Cudjoe, Minister of Public Enterprises, also indicated that managerial set ups lack compliance programmes, hence the challenges with complying with government’s regulations and policies.

“When you’re leading a corporation, your dashboard should be your compliance. Just like driving a car or flying a plane, just comply. I call it the (KTR), ‘Know the Rules’ and the policies. If you have a challenge with compliance, then you have a challenge with your job. Compliance program is a gap in our managerial set up and we need to address that. We need to set up compliance strategies and set strategic plans to fulfil them. Not forgetting, implementation is also everything.”

Hon. Joseph Cudjoe

READ ALSO: GHS Director Expresses Concern Over COVID-19 Surge During Easter Festivities

Tags: Ken ofori-attaSIGAState Entities

Send your news stories to [email protected] and via WhatsApp on +233543050759.

Related Posts

Ghana Named Among 3 African Countries Likely To Hike Policy Rate This Month
Economy

Ghana Among 3 African Countries Likely To Hike Policy Rate In May

May 17, 2022
Introduce Cash Transfer Scheme To Cushion Citizens Against Rising Cost of Living - Dr. Opoku
Economy

Introduce Cash Transfer Scheme To Cushion Citizens Against Rising Cost of Living –  Dr. Opoku

May 17, 2022
Bring Back the Road Tolls Now- Economist Charges Government
Economy

ISSER Urges Gov’t to Bring Back Tollbooths As a Fiscal Measure

May 15, 2022
Collateralizing E-levy Will Create Problems for Future Governments- Prof Bokpin
Economy

Collateralizing E-levy Will Create Problems for Future Governments- Prof Bokpin

May 14, 2022
Ghana: US$751.5 Million AfDB-Sponsored Projects Underway
Economy

Ghana:US$751.5 Million AfDB-Sponsored Projects Underway

May 14, 2022
I Have Given Up All Hope In This Government — Economist
Economy

I Have Given Up All Hope On This Government — Economist

May 13, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

GTA Shuts Down Six Hotels in Kwahu Ahead of Easter Celebrations

Next Post

GMet Calls on Ghanaians to Regard Weather Forecasts

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated
Europe

Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated

by Edem NyonatorMay 17, 2022
mine
Extractives/Energy

Orca Gold Shareholders “Overwhelmingly” Approve Acquisition by Perseus

by Stephen AbankwahMay 17, 2022
NPP to release flagbearer aspirant guidelines soon- John Boadu
General News

NPP Says It’s Early For Presidential Candidate Suggestion

by Priscilla KorantengMay 17, 2022
Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics
Pension

Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics

by Stephen M.CMay 17, 2022
Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed
Entertainment

Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed

by Dorcas DamehMay 17, 2022
Ghana Named Among 3 African Countries Likely To Hike Policy Rate This Month
Economy

Ghana Among 3 African Countries Likely To Hike Policy Rate In May

by Stephen KotochieMay 17, 2022
Mariupol: Hundreds of Trapped Ukrainian Soldiers Evacuated
mine
NPP to release flagbearer aspirant guidelines soon- John Boadu
Formulate Policies on Aging By Leveraging Available Data- Head of Demographics Statistics
Passenger Who Landed Plane Without Experience Shares His Story As His Identity Is Revealed
Ghana Named Among 3 African Countries Likely To Hike Policy Rate This Month
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In