Board Chairs and CEOs of Ghana’s specified state entities have signed ten binding commitments aimed at strengthening financial discipline, governance, accountability and public value.
Accra, September 10, 2026 — Board Chairpersons and Chief Executive Officers of specified entities under the State Interests and Governance Authority (SIGA) have signed ten landmark commitments on finance and governance, marking the close of the 2026 SIGA Governing Boards and CEOs Conference in Accra.
The commitments were publicly read, accepted and signed at the Labadi Beach Hotel following deliberations under the theme, “Creating Public Value through Leadership, Corporate Governance and Performance Excellence.”
The signatories represent State-Owned Enterprises, joint venture companies and other state bodies within SIGA’s portfolio.
According to SIGA Director-General Prof. Michael Kpessa-Whyte, the commitments represent a shift from statements of intent to measurable undertakings that will be tracked and enforced.
Five commitments on finance
Under the conference sub-theme “Finance, Financing the Future,” Board Chairs and CEOs committed to reducing their entities’ dependence on government subventions, sovereign-backed borrowing and incidental foreign-exchange gains.
They instead agreed to pursue sustainable, market-based and internally generated financing strategies, subject to regular Board review.
The entities will also explore alternative financing mechanisms, including public-private partnerships, blended finance and infrastructure bonds, while working with SIGA and regulators to address barriers to accessing such instruments.
Other financial commitments include stronger governance and asset management, more robust budgeting and cash-flow management, and rigorous feasibility studies, due diligence and risk assessments before major financing or investment decisions.
Stronger governance and accountability
The second group of commitments focuses on governance.
Board Chairs and CEOs agreed to maintain a clear distinction between Board strategic oversight and executive management authority, reinforcing the principle that Boards provide oversight while CEOs manage day-to-day operations.
They also committed to treating compliance with SIGA’s statutory requirements—including performance contracts and timely submission of required information—as a core governance and accountability responsibility.
The commitments further require individual and collective accountability for institutional performance, with persistent non-compliance or under-performance to be addressed in accordance with applicable laws.
Ethical leadership, conflict-of-interest management, resistance to undue operational interference, transparency and zero tolerance for corruption also form part of the governance commitments.
The final undertaking focuses on institutional capacity, including Board and management competence, succession planning, risk management and internal-control systems.
President Mahama’s warning to state entities
The commitments come against a broader push by President John Dramani Mahama for Ghana’s state-owned enterprises to demonstrate measurable value to citizens.
Addressing the same SIGA conference, the President said public ownership must produce measurable public value and warned that Boards should not interfere in the day-to-day management of state enterprises.
Mahama also warned that persistent underperformance could result in corrective action, including leadership changes, while urging SIGA to strengthen performance monitoring and reporting.
GhanaMedia.net previously reported on SIGA’s 2025 State Ownership Report, which assessed the financial, operational and governance performance of Ghana’s specified entities.
The development also comes amid broader efforts to strengthen Ghana’s public-sector governance, including governance and public-sector reforms and accountability across public institutions.
Commitments take immediate effect
The ten commitments were read aloud by Hon. Sammy Gyamfi, affirmed by acclamation and formally signed by the Board Chairs and CEOs present at the conference.
SIGA says the commitments take effect from the date of signing and will guide the Boards and Management of affected specified entities until they are formally reviewed.
Implementation will be tracked through SIGA’s existing performance-contracting and oversight mechanisms, with the Authority expected to report periodically on progress.
The move marks a significant attempt to place financial discipline, institutional accountability and measurable public value at the centre of the governance of Ghana’s state-owned and state-interest entities.
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