By Jibril Abdul Mumuni
Accra, Sept. 10, GNA – Governing boards and Chief Executive Officers(CEOs) of State-Owned Enterprises (SOEs) have committed to strengthening corporate governance, improving accountability and enhancing performance across state institutions.
The commitment was made at the 2026 Governing Boards and CEOs Conference organised by the State Interests and Governance Authority (SIGA) on the theme: “Creating Public Value through Leadership, Corporate Governance and Performance Excellence.”
Presenting key outcomes from the conference discussions, Mr Sammy Gyamfi, CEO, GOLDBOD, said participants agreed that strong corporate governance remained critical to improving the performance and sustainability of state-owned enterprises.
The commitment formed part of resolutions reached during panel discussions on governance and institutional performance.
The boards and CEOs pledged to strengthen collaboration between governing boards and management teams while respecting their distinct roles and responsibilities.
The commitment follows concerns raised during the conference about board interference in management functions and instances where management resisted legitimate board oversight.
Participants also agreed on the need to improve compliance with reporting requirements, including performance contracts, quarterly reports and annual general meetings.
The commitment comes at a time when the 2025 State Ownership Report shows improving financial performance among state enterprises, with the sector recording a net profit after tax of GH¢19 billion.
The report showed that 34 out of 53 SOEs reported profits, while total revenue rose to GH¢176.4 billion in 2025.
Speaking earlier at the conference, Professor Michael Kpessa-Whyte, Director-General of SIGA, said the recent improvement in profitability highlighted the importance of good governance and sound management practices.
“The results reflect more than favourable external conditions. They show what can happen when boards stay close to the fundamentals, when management controls costs and receivables, and when performance contracts guide decisions throughout the year,” he said.
The conference also highlighted concerns about compliance levels among some state entities.
According to SIGA, only 72 entities signed performance contracts in 2025, while only 71 submitted quarterly reports on time. In addition, only 37 entities held annual general meetings or annual stakeholder meetings.
Participants therefore pledged to improve transparency, strengthen oversight mechanisms and ensure timely submission of required reports.
The conference further underscored the need for boards and management teams to address risks promptly, improve operational efficiency and ensure that profits generated by state enterprises deliver value to the Ghanaian people.
The commitments are expected to guide efforts to improve governance standards, sustain profitability and strengthen accountability across Ghana’s portfolio of state enterprises.
GNA
Reporter :Jibril Abdul Mumuni
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Edited by Samuel Osei-Frempong