Ghana's Vice President, Dr Bawumia, says non-performing managers of State-Owned Enterprises will be sanctioned

Ghana's Vice President, Dr. Mahamudu Bawumia, has said that managers of State-Owned Enterprises (SOEs) who fail to perform their roles to expectation will be sanctioned by the State Interests and Governance Authority (SIGA).

Dr Mahamudu Bawumia

He said that this will help deal with issues of under-performance of state institutions and make them profitable.

This is coming after a performance review for state enterprises in 2019.

SIGA replaced the State Enterprises Commission (SEC), which had a supervisory role over state enterprises or institutions where the state had some interest.

Dr Bawumia was speaking at a 2020 performance contract signing ceremony with key managers of SOEs.

“We have noted with gratitude the sacrifice and good work some of you are doing. We also noted during the 2020 performance contract negotiations some fiscal indiscipline of some of the entities. SIGA has been directed to invoke the necessary articles in the law.”

“How can a State Entity whose core function is to buy and sell a commodity that has a ready market and earn a commission, run into debts of hundreds of millions of Ghana cedis? Either someone doesn’t care or that we run these State Entities with private agendas,” the Vice President added.

An Act of Parliament established SIGA in 2019. This was to put state-owned enterprises and joint venture corporations on the path of profit-making.

The Authority also took over the role of the then State Enterprises Commission works to increase profitability within the framework of government policy.

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