The Director-General of State Interests and Governance Authority (SIGA) has been instructed by Nana Addo Dankwa Akufo-Addo, President of the Republic, to work with the Auditor-General to investigate the reasons behind the violations listed in the most recent report, identify those accountable, and make the necessary recommendations as required by law.
President Akufo-Addo claims that a rise in the number of violations committed by Specified Entities was documented in the Auditor-report General’s for 2021, and that the Chairpersons of these entities must respond to this.
He announced this on Monday, October 3, 2022, during a meeting at Jubilee House, the country’s presidential residence, with the Director General of the State Interests and Governance Authority and Chairpersons of Specified Entities.
The President claims that Specified Entities have been established to deliver effective public services, encourage public economic activity, contribute to our GDP, decrease imports and enhance exports, so strengthening our economy and generating jobs for our people.
Additionally, he stated that it is the responsibility of Specified Entities to build the economic superhighway.
“However, the current trend of affairs neither portrays that picture, nor reflects positively on the managers of our 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 said.
As leaders of these “Specified Entities,” he said, “I appointed you with the firm conviction that you would achieve a positive change in the narrative of loss-making entities and create value for the people of Ghana.
I expected more from you because that did not occur.
In order to address the violations identified by the Auditor-General and the 2020 State Ownership Reports, the President urged the heads of Specified Entities to dig deep, come to grips with the causes, and find solutions.
“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,” he said.
Whilst urging Chairpersons to help change the narrative of Specified Entities, the President noted that “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.”
He, thus, advocated for good corporate governance practices in Specified Entities, stressing 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 keep in mind that, aside from SIGA, each of your entities has an overall supervisor or monitor, who is the minister responsible for that sector in the end, and who is the Minister for Public Enterprises.
We are assured of improved performance and production from your various entities if the hierarchy is strictly upheld,” he said.
President Akufo-Addo added that “I pledge my full support to SIGA and other oversight institutions to exercise their authority, without any fear or favor.” He then exhorted the Specified Entities to engage in trade among one another, increase domestic production, and increase their consumption of domestic goods and services.