Infractions and irregularities among state enterprises decreased by 46% in 2023 - SIGA

The Director-General of the State Interest and Governance Authority (SIGA), John Boadu has stated that State-Owned Enterprises (SOEs) reduced losses by GH¢9 million for the 2023 financial year.

This amount represents an 83.13% reduction from the previous net loss of GH¢14,402,000.00 in 2022 to GH¢2,573,000.00 in 2023.

During the launch of the 2023 State Ownership Report in Accra, John Boadu mentioned that SOEs also experienced a 46% reduction in irregularities and infractions as reported in the Auditor General’s 2023 report.

He also highlighted that over 90% of these infractions are recoverable due to interventions and reforms implemented by the Authority.

John Boadu emphasised that SIGA is dedicated to ensuring that SOEs and Specified Entities remain relevant and viable. The organization will work to guarantee that revenue targets and operational viability are improved for better performance.

“In this year alone, the Auditor General's report outlines that over 90 percent of these losses are recoverable. This means that the accounts are current and they will be able to recover this amount. We will continue to work with all these institutions and report back to the media and the public," John Boadu said.

“In preparing the 2023 State Ownership Report, data was collected from 60 Audited Financial Statements and 87 Management Accounts of the SOEs. This report was created in line with the indicators of the World Bank sponsored Public Financial Management for Service Delivery (PFM4SD) Programme to support the Government’s Public Financial Management Reform Strategy,” he added.

The 2023 State Ownership Report of SIGA focuses on aligning SOEs with the government’s agenda to restore and sustain macroeconomic stability through inclusive growth and value addition under the post-COVID-19 Programme for Economic Growth (PC-PEG).

The report, themed; “Inclusive Growth and Value Addition: The Role of Specified Entities,” covers 147 (84%) out of the 175 Entities listed in the Cabinet approved SIGA Entity List. These entities include 53 State-Owned Enterprises (SOES), 31 Joint Venture Companies (JVCs), and 63 Other State Entities (OSEs).







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