President Nana Addo Dankwa Akufo-Addo has warned state enterprise boards of directors not to interfere in the day-to-day management of their respective Specified Entities.
He also asked them to refrain from making unreasonable demands on their management.
Mr. Akufo-Addo made these remarks while advocating for good corporate governance practices in state institutions.
“You must remember that, aside from SIGA, each of your entities has an overall supervisor or monitor, who 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,” he said on Monday, 3rd October 2022, at Jubilee House, the nation’s presidential residence.
He also directed the Director-General of the State Interests and Governance Authority (SIGA) to investigate the causes of the infractions cited in the latest report, identify those responsible, and make the necessary recommendations in accordance with the law.
Mr. Akufo-Addo stated that it is the responsibility of Specified Entities to build the economic superhighway.
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“However, the current state of affairs does not reflect that picture, nor does it reflect favorably on the managers of our Specified Entities, oversight institutions, or the government itself.” It is a clear indication of poor supervision and management, as well as a lack of enforcement of implementation and sanctions for necessary measures,” President Akufo-Addo stated.
“I appointed you as leaders of these Specified Entities with the firm belief that you would ensure a positive change in the narrative of loss-making entities and build value for the people of Ghana,” he continued. That has not occurred, so I am expecting more from you.”
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