ACCRA, Ghana, 10th September: President John Dramani Mahama has directed the State Interests and Governance Authority (SIGA) to publish clear performance assessments of state-owned enterprises and promptly report persistent non-compliance to the Presidency.
He said the directive was necessary to strengthen transparency and ensure that institutions holding public assets are properly held to account.
President Mahama gave the directive when he addressed the 2026 Annual Governing and CEOs Conference of SIGA at the Labadi Beach Hotel in Accra.
He said SIGA must become an effective ownership and performance institution capable of monitoring state entities and ensuring compliance with the country’s public ownership policy.
The President said every institution within the state equity portfolio must be able to demonstrate, with credible evidence, the value it creates for the Ghanaian people.
He disclosed that the 2025 State Ownership Report covered 162 of the 175 entities within the state equity portfolio, representing 89 per cent coverage.
For the first time, he said, 108 entities submitted audited financial statements, representing the highest level of audited reporting in SIGA’s history.
Management and draft accounts also declined significantly from 99 entities in 2024 to 54 in 2025.
President Mahama, however, expressed concern over continuing compliance gaps, noting that only 61 entities submitted audited accounts by the statutory deadline.
He said only 72 entities signed performance contracts, 71 submitted quarterly reports and just 37 held their required annual general or stakeholder meetings.
“These compliance gaps are unacceptable because accountability instruments are not optional administrative exercises,” he stressed.
The President also expressed concern over the failure of the Minerals Commission, Lands Commission and Ghana Telecommunications Company Limited to submit their 2025 accounts.
He directed all state entities to produce timely audited accounts, execute performance contracts, submit quarterly reports and hold regular stakeholder meetings.
President Mahama further warned that any board or chief executive who persistently frustrates lawful oversight by SIGA would have such conduct considered in decisions regarding their continued tenure.
He instructed all boards and chief executives to cooperate fully, promptly and transparently with every lawful request from SIGA.
The President said the authority’s mandate under the State Interests and Governance Authority Act, 2019 (Act 990), was statutory and compliance with it was mandatory.
He said the government would recognize excellence while ensuring that persistent failure and non-compliance attract appropriate consequences.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭