On Thursday, at the State Interests and Governance Authority (SIGA) Governing Board and CEOs Conference in Accra, President Mahama shared his plans to reform how public institutions are run, how executives are paid, and how finances are managed.
The new rules include the following:
Salary increases and bonuses will be stopped for executives at state institutions that do not meet performance targets.
Profitable state enterprises were told not to spend extra money on executive perks. President Mahama emphasised that their main financial responsibility is to pay dividends to the state.
Institutions that do not submit audited financial reports or miss required Annual General Meetings (AGMs) will quickly face administrative penalties.
“Executive leadership, compensation, and operational mandates will be strictly tied to verifiable performance, profitability, and public service delivery,” President Mahama said. He added that although recent progress is good, he is focused on long-term results, not just short-term improvements.
The conference highlighted significant gains under SIGA’s regulatory framework. Financial performance across state entities under SIGA oversight surged from a net loss of GHS 2.26 billion to a net profit of GHS 19.8 billion.
Professor Michael Kpessa-Whyte, Director General of SIGA, attributed this historic turnaround directly to the administration’s strict enforcement of administrative accountability and structural governance frameworks.
To show his commitment to higher standards, President Mahama recently dissolved the boards of nine state institutions that did not meet key performance targets. This strong action set the tone for Thursday’s conference.
This was the third time in two years that the Presidency has met directly with state enterprise leaders. It shows an ongoing effort to make sure state assets benefit the people of Ghana.
Distributed by APO Group on behalf of The Presidency, Republic of Ghana.
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