President Akufo-Addo has directed the Director-General of State Interests and Governance Authority (SIGA) to work with the Auditor-General into the causes of the infractions cited in the latest report.

According to him, the 2021 Auditor-General’s report has reported an increase in the number of infractions committed by Specified Entities, and this demands answers from Chairpersons of these entities. He indicated that SIGA must identify persons responsible and make the necessary recommendations as prescribed by law.

Speaking at a meeting with the Director General of the State Interests and Governance Authority, and Chairpersons of Specified Entities, the President revealed that Specified Entities have been set up to provide efficient public services, promote public economic activities, and contribute to the GDP, reduce imports, increase exports, and, thereby, strengthen the economy, whilst creating jobs for the people.

Whilst urging Chairpersons to help change the narrative of Specified Entities, the President charged “the Director-General of SIGA to work with the Auditor General, who is here with us, to drill down to the causes of the infractions, identify persons responsible and make the necessary recommendations as prescribed by law. I am giving them four (4) weeks from now to submit a report to the Chief of Staff”.

Additionally, he noted that Specified Entities have a duty to create the economic superhighway. However, he stated that the current trend of affairs neither portrays that picture, nor reflects positively on the managers of the Specified Entities, oversight institutions, and the government itself.

“It is a clear indication of poor supervision and management, as well as poor enforcement of implementation and sanctions of the needed measures.”
President Akufo-Addo

Leaders of Special Entities entreated to build value

The President highlighted that he appointed the leaders of these Specified Entities with the strong belief that they would ensure a “positive change in the narrative of loss-making entities and build value” for the people of Ghana. That, he emphasized, has not happened, so “I expect more from you”.

President Akufo-Addo thus advised heads of Specified Entities to investigate and agree on the causes and find solutions to address the infractions pointed out by the Auditor-General and the 2020 State Ownership Reports.

“I want to see a marked improvement in these reports next year. Things must change. Your hard-earned reputation and honour are at stake if things crumble under your watch, and there are also serious sanctions in the SIGA Act and other laws for mismanagement, negligence and outright malfeasance.”
President Akufo-Addo

Subsequently, the President advocated for good corporate governance practices in Specified Entities. He revealed that boards must desist from interfering in day-to-day management of their respective Specified Entities, and making unwarranted demands on their management.

“You must remember that, in each of your entities, you have, apart from SIGA, an overall supervisor or monitor, which is the relevant sector Minister, and, ultimately, the Minister for Public Enterprises. If the hierarchy is rigorously maintained, we are guaranteed an enhanced performance and output of your various entities.”
President Akufo-Addo

President Akufo-Addo further encouraged Specified Entities to trade amongst themselves, increase production and cultivate the patronage of domestic products and services. With this, he pledged his full support to SIGA and other oversight institutions to exercise their authority, without any fear or favour.