Government backs SOEs with new directive on public business

The government has reiterated its commitment to strengthening state-owned enterprises (SOEs) by directing public and government business, as far as practicable, to these companies.

The assurance was given by Deputy Minister of Finance, Thomas Ampem Nyarko, during the inauguration of the new Board of Directors of SIC Life Insurance Company Limited in Accra.

Multilateral lenders must support Africa's debt restructuring efforts - Ato Forson

Ampem Nyarko explained that the directive forms part of the government’s broader strategy to ensure that state-owned companies regain their competitive edge and play a central role in supporting national development.

He stressed that SIC Life, in particular, must position itself to attract and retain government-related business through innovation and efficiency.

The Deputy Minister further charged the new board to treat their appointment as a national call to duty, noting that SIC Life is currently struggling and requires fresh leadership to turn its fortunes around.

On his part, the newly sworn-in Board Chairman, Peter Lanchene Toobu, MP, pledged that the board will work as a united team in alignment with the government’s reset agenda.

He assured that within a year, SIC Life would show clear signs of revival.

The newly inaugurated SIC Life Insurance Company Board comprises:

1. Peter Lanchene Toobu, MP – Chairperson

2. Solomon Twum Barima – Managing Director

3. Nana Kwasi Ofori Ababio – Member

4. Bismark Tetteh Nyarko, MP – Member

5. Della Adjoa Sowah – Member

6. Jude Agbemava – Member

7. Yao Edinam Cofie – Member

8. Nelson Kofi Djabab, MP – Member

9. Dr Jonathan Asante Otchere, Ph.D – Member

SSD/MA