'Don't meddle in SOEs' day-to-day affairs' – President Mahama cautions board chairs

President John Dramani Mahama has cautioned board chairs of State-Owned Enterprises (SOEs) against meddling in the day-to-day running of their respective institutions.

He said board chairs must not take up offices at their entities and report to work every day as though they occupied full-time executive positions.

“A board is not a ceremonial position. A membership is not an advertisement. A board is responsible for the strategic direction, policy, riskable insights, integrity of financial reporting, and the institutional performance,” the President said in his remarks at the 2026 SIGA Governing Boards and CEOs Conference.

The conference was held on the theme: “Creating Public Value Through Leadership, Corporate Governance and Performance Excellence.”

President Mahama said executive authority was not a personal privilege, adding that it was “a measurable responsibility to develop, deliver results in accordance with the law, government policy, and strategic direction that is approved by the board.”

“A certain distinction must remain clear. A board governs and management manages,” he said.

He said a board that assumes responsibility for routine operational decisions weakens accountability through interference.

He also tasked the boards of SOEs to exercise oversight with independence, competence and integrity.

President Mahama noted that any board or chief executive who persistently placed an entity beyond lawful oversight demonstrated an unwillingness to account for public assets, adding that such conduct would weigh decisively in decisions about the continued tenure of the responsible appointees.

“Every board must exercise oversight with independence, competence, and integrity. Every chief executive must manage effectively and deliver results that are measurable. Every specified entity must account transparently, accurately and on time,” he stated.

The President said every public asset must be protected and used to create value for the people of Ghana.

He said that within the next reporting cycle, he expected each board to agree with management on a limited set of measurable priorities covering financial performance, service delivery, governance, risk, audits, compliance and contributions to national development.

He added that the State Interests and Governance Authority (SIGA) must track these priorities and make performance visible.

The President said strong performance would be recognised, while weaknesses would be addressed through targeted improvement measures.

He said persistent failure, resistance to oversight and misuse of public resources would attract consequences.

He tasked board chairs, board members and chief executives to return to their institutions and ask themselves what value they were creating for the people of Ghana, who own the assets entrusted to their care.

“The answer is clear and evidence-based. The country will recognise your contribution. If not, reform must be implemented immediately. Leadership must deliver results. Corporate governance must protect the public interest,” he said.

President Mahama said performance must be measured honestly and without favour, adding that cooperation with SIGA must be complete and mandatory.

Professor Kpessa-Whyte, the Director-General of SIGA, said the 2025 State Ownership Report came at a defining moment in Ghana’s pursuit of stronger governance, greater accountability and improved performance across the State’s portfolio of enterprises and investments.

He said it reflected a renewed national commitment to transparency, responsible stewardship and the creation of sustainable public value from assets held in trust for the people of Ghana.

He noted that although it was the second State Ownership Report published under the current administration, the 2025 report was the first to fully reflect the stewardship of President Mahama following his return to office.