President Akufo-Addo charges State Institutions to stop posting losses

President Akufo-Addo
Mr Christopher Cottet, Resident Manager, France Development Agency speaking at the ceremony

By Bright Ntramah

President Akufo-Addo has urged State Institutions to bring to an end the phenomenon of posting losses at the end of the year.

He said late reporting and submission of financial reports also leaves a lot to be desired and charged State entities to turn over a new leaf.

President Akufo-Addo was addressing Participants in the Policy and Governance Forum organized by the State Interest and Governance Authority, SIGA in Accra.

He tasked SIGA to work with State Institutions and their Boards to help move Ghana to a point beyond aid. He further charged the Boards of State iInstitutions to leave their entities in a better position than they came to meet.

Bright Ntramah reports that the State Interest and Governance Authority, SIGA, was established by an Act of Parliament to, among other things, put State-Owned Enterprises and Joint Venture Corporations on the path of profit-making.

President Akufo-Addo inaugurated the Authority which replaced the defunct State Enterprises Commission, SEC and the Divestiture Implementation Commission, DIC.

He said the establishment of SIGA has helped to resolve some challenges facing State Institutions, but more needs to be done.

President Akufo Addo asked specified entities to direct supply chain activities to involve Ghanaian Entrepreneurs to spur the growth of SMEs. He bemoaned the situation where some State Institutions continue to record losses and asked them to depart from that culture.

The President asked SIGA to ensure that the institutions under them live up to their mandate.

The 2022 policy and Governance Forum will focus on improving the performance of specified entities through leadership and technology.

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