Professor Michael Kpessa‑Whyte, Director‑General of the State Interests and Governance Authority (SIGA), said at an event at the La Palm Royal Beach Hotel that just 72 of the 148 targeted state‑owned entities signed performance contracts in 2025. Only 71 submitted their quarterly reports on time, and a mere 37 of 177 entities held annual general or stakeholder meetings during the year.
He described the figures as troubling, adding that some specified entities continue to resist or place themselves outside SIGA’s oversight. “Partial compliance is not enough. An entity that files audited accounts but does not hold its annual general meeting has left a major accountability obligation unmet,” he said.
Despite the gaps, Kpessa‑Whyte noted a significant improvement in audited account submissions, which rose from 53 in 2024 to 108 in 2025 – the highest coverage recorded to date. He said that a larger pool of audited accounts would give SIGA a more accurate picture of the performance and financial health of the state‑owned enterprise portfolio.
The Director‑General warned that failure to sign performance contracts or submit quarterly reports makes it harder for the state to identify risks early and take corrective action, potentially translating into contingent liabilities for the public purse and undermining public confidence.
He also called for greater attention to dividend performance, noting that only two of 53 state‑owned enterprises paid dividends to the government from their 2024 operations, generating a total of GH¢16 million. The two entities were the Ghana Reinsurance Company and the National Development Company.
What follows is a continued push by SIGA to tighten governance and accountability across the state‑owned enterprise sector, with an emphasis on full compliance in all areas of performance reporting.
