President John Dramani Mahama has declared war on financial mismanagement and impunity in Ghana’s state-owned enterprises (SOEs). In a strongly worded address to CEOs of specified entities under the State Interest and Governance Authority (SIGA), President Mahama vowed to end the era of financial recklessness and reset the SOEs for efficiency, accountability, and national development.
Citing the 2023 State Ownership Report produced by SIGA, President Mahama highlighted the inefficiencies and challenges plaguing most SOEs, including waste, underperformance, conflict of interest, and detachment from national interest. He emphasized that many of these entities have been used for personal gain rather than serving the nation’s interests.
“The era of impunity, mediocrity, and financial recklessness must end today,” President Mahama stated, warning that his administration will take decisive action to tackle the systemic challenges confronting these entities.
As part of his resetting agenda, President Mahama outlined key policy measures, including strict performance monitoring, asset declaration enforcement, and empowering SIGA to act as a command center with executive authority to enforce performance contracts and conduct regular financial assessments.
The President also made it clear that loss-making state enterprises will no longer be tolerated and will either be merged, privatized, or closed. He emphasized the importance of public-private partnerships in revitalizing SOEs and stressed that Ghana’s economic transformation depends on the efficiency of state entities.
With his strong declarations, President Mahama has sent a clear message that his administration is committed to promoting good governance, accountability, and transparency in Ghana’s state-owned enterprises. The question now is, will his words be followed by decisive action?
Ruth Abla ADJORLOLO
