President John Dramani Mahama has reaffirmed his commitment to enforcing accountability and efficiency in state-owned enterprises.
He emphasized that the era of impunity, mediocrity, and financial recklessness must come to an end.
Speaking at a meeting with Chief Executive Officers (CEOs) of specified entities under the State Interest and Governance Authority (SIGA), on Thursday, March 13, President Mahama underscored the need for a transformative approach to governance.
He stressed that his administration’s first 120 days have laid the foundation for a new era marked by efficiency, integrity, and tangible results.
“This meeting is not just a forum for discussion but a decisive call to action. We must demand accountability and an unwavering commitment to excellence from you as chief executives of state-owned enterprises.
My administration is committed to resetting these entities to ensure they transition from loss-making ventures into profit-generating institutions,” he stated.
President Mahama referenced the 2023 State Ownership Report by SIGA, which highlighted inefficiencies plaguing many state entities.
He noted that some enterprises have been burdened by wasteful expenditures, conflicts of interest, and a detachment from national interests.
“Many of our specified entities have operated inefficiently for far too long. They have become avenues for personal wealth creation instead of serving the interests of the state.
Some CEOs and management boards have allowed these enterprises to be perennial loss-makers, draining public funds through bloated budgets, unjustified allowances, and unnecessary expenditure all while relying on government bailouts as if they were entitlements,” he stated.
He reiterated his resolve to enforce strict measures to ensure financial discipline within state-owned enterprises.
He highlighted key actions already taken within the first 120 days of his administration, including the implementation of a lean government, the confirmation of a full cabinet within 14 days, and the upcoming publication of a strict code of conduct for public officials.
He stressed the importance of public officers in this category fulfilling their obligation to declare their assets upon assuming and leaving office. Noting that many predecessors had failed to comply, he emphasized the need for strict enforcement to ensure full adherence moving forward.
“It will no longer be business as usual.
The Ghanaian people have entrusted me with the responsibility of resetting our nation and economy, and I do not intend to betray that trust,”
