By Edward Acquah
Kwahu-Nkwatia (E/R), Feb. 9, GNA – Mr Edward Boateng, Director General of the State Interests and Governance Authority (SIGA) , has charged the leaders of Specified Entities to adopt cost-cutting measures to reduce expenditure in the wake of the economic challenges facing the country.
He said State Owned Enterprises (SoEs) have a critical role to play in the Government’s quest to put the economy back on track, and thus, those organisations must utilise their resources efficiently and productively.
Mr Boateng made the call when he opened the 2023 Annual Stakeholder Meeting of SIGA, underway at Kwahu-Nkwatia in the Eastern Region on Thursday.
He said the Authority’s decision to convey Chief Executive Officers (CEOs) and Board Chairs of Specified Entities from Accra to Kwahu by bus for its Annual Stakeholders Conference was an example of some of the measures that could be deployed to reduce expenditure.
Mr Boateng said 36 CEOs joined the bus, which amounted to about GHS100, 000 savings on fuel.
“It is the small things that we are not doing that has put all of us in this stage; we all have to work hard to jumpstart the economy,” he told the CEOs.
The 2023 Stakeholder Meeting of SIGA has brought together Board Chairs, CEOs of Specified Entities, and other relevant stakeholders to discuss strategic initiatives aimed at transforming the Specified Entities into high-performing organisations and ensuring they meet the President’s vision of contributing 30 per cent to Ghana’s Gross Domestic Product.
The Conference, which is in accordance with Section 30 of the SIGA Act 2019 (Act 990), is on the theme: “A Time to Reflect and Rebuild”.
Mr Boateng charged the Specifies Entities to publicise their success stories to enable the public know the efforts they were making to improve their performance and to erase the negative reportage about SoEs over the period.
“You must be intentional about your communication. Nobody will know about the good things you are doing until you tell them,” he said.
Mr Joseph Cudjoe, Minister of Public Enterprises, charged the SoEs to collaborate effectively and double their work efforts to achieve their target of contributing 30 per cent to the GDP.
“Contributing 30 per cent to GDP is herculean, but we shall succeed with determination…Let us not lose sight of effective collaboration in our rebuilding process,” he said.
SIGA was established under the SIGA Act, 2019 (Act 990) to oversee and administer the state-interests in state- owned enterprises (SOEs), Joint Venture Companies (JVCs) and other state entities.
The Authority is mandated under the Act to among others, promote the efficient or profitable operations of Specified Entities and to ensure that those entities adhered to good corporate governance practices.
Currently, SIGA has 175 state enterprises under its supervision.
GNA