Review mandates of some SoEs to inform action – Asantehene to SIGA

Asantehene, Otumfuo Osei Tutu II, has proposed to the State Interests and Governance Authority (SIGA) to review the mandates of some State-owned Enterprises (SoEs) and make recommendations on whether to divest or recapitalise such entities.

The Asantehene expressed concern that contrary to the government’s rationale for the establishment of SOEs for the benefit of the nation, not much benefit had been received by the citizens.

He made the call when the management of SIGA, led by John Boadu, Director-General of SIGA, paid a courtesy call on him at the Manhyia Palace, a statement issued by the Corporate Affairs Division of SIGA, said.

The statement quoted Otumfuo as saying: “Government has invested a lot of resources into these entities to ensure that its citizens reap the rewards of these investments. SIGA must ensure the ultimate goal for setting-up these entities are fully realised.”

The purpose of the visit was to officially introduce Mr. Boadu as the new Director-General of SIGA and also update the Asantehene on the activities undertaken since his appointment in December 2023.

The visit also offered the team an opportunity to hold further discussions on areas where SIGA could collaborate with the Manhyia Palace to garner support for the implementation of its activities.

Mr. Boadu thanked the Asantehene for the opportunity to apprise him on SIGA’s achievements since the previous meeting with SIGA management.

He said that SIGA and the Ghana Revenue Authority were the two organisations in Ghana expected to generate revenue for the country per their mandates.

“SIGA is collaborating with all stakeholders to ensure that the entities under our ambit are profitable and adhere to good governance practices. For the past five years since our establishment, we have improved on the financial reporting and compliance of our Entities and increased their contribution to the national accounts by a significant margin,” Mr Boadu said.