Also known as: SIGA · SIGA Director-General
State Interests and Governance Authority — oversees audited accounts, governance reforms, and compliance at state-owned enterprises in Ghana.
Verbatim sentences from the source article.
Joy Online
… According to the Secretariat, collaborations with public institutions, including the State Interests and Governance Authority (SIGA), are part of routine stakeholder engagement and have no bearing on the selection process. …
Ministers of State Excellence Honours rejects claims of pay-for-awards schemeJoy Online
The Director-General of the State Interests and Governance Authority (SIGA), Professor Michael Kpessa-Whyte, has strongly rejected claims that he publicly celebrated being named “Best CEO of the Year” by an awards scheme, describing the allegation as completely false. …
Kpessa-Whyte denies celebrating ‘Best CEO’ award on social mediaJoy Online
… Michael Kpessa-Whyte, is the Director-General of the State Interests and Governance Authority [SIGA]
The real honour is service, not paid recognition – Prof. Michael Kpessa-Whyte, Director-General of SIGA writesBusiness & Financial Times
returns to profit with GH¢1.24bn pre-tax surplus in 2025 earns SIGA commendation for governance and financial recovery The Tema Oil Refinery (TOR) has cleared a six-year backlog of outstanding audited financial statements and returned to profitability for the first time in a deca …
TOR clears six-year audit backlogJoy Online
… The achievement was disclosed by the State Interests and Governance Authority (SIGA), which described the development as a significant turnaround for the state-owned refinery after years of financial and operational challenges. …
TOR posts GHS 1.24bn profit in 2025 as SIGA hails ‘historic’ financial turnaroundJoy Online
President John Mahama has cautioned chief executives of state-owned enterprises that failure to submit audited accounts and annual reports within the timeframe set by the State Interests and Governance Authority (SIGA) could result in their dismissal. …
Mahama warns state enterprise CEOs over failure to submit audited accountsBusiness & Financial Times
… For more detailed operational insights and continuous performance contracts, refer to the State Interests and Governance Authority (SIGA) or the Ministry of Finance’s In 2026, Ghanaian State-Owned Enterprises (SOEs) could face intense pressure to eliminate persistent financial lo …
Persistent SOEs Losses: A threat to Ghana’s fiscal balance and debt sustainability post-IMF bailoutJoy Online
Only 61 out of 185 state-owned enterprises, joint ventures and other specified entities submitted their 2025 financial statements to the State Interests and Governance Authority (SIGA) by the statutory April 30 deadline. …
61 out of 185 SOEs met April 30 deadline for submitting 2025 financial statementsJoy Online
… The consequences were predictable: in 2016, when the State Interests and Governance Authority first attempted to compile a systematic State Ownership Report, it found that only two of Ghana’s major state enterprises had current audited financial statements available. …
Ghana’s Appointment Addiction: Why the State cannot function when everything depends on who won the electionTema Oil Refinery's Managing Director says he has initiated direct conversations with government on mechanisms to recapitalise the company's balance sheet, including releasing TOR's outstanding ESLA receivables of at least GH¢1.6billion, to address an accumulated deficit of GH¢7.869billion and negative equity position of GH¢4.53billion.
2 July 2026 · Business & Financial Times →
Tema Oil Refinery's Managing Director says he has initiated direct conversations with government on mechanisms to recapitalise the company's balance sheet, including releasing TOR's outstanding ESLA receivables of at least GH¢1.6billion, to address an accumulated deficit of GH¢7.869billion and negative equity position of GH¢4.53billion.
2 July 2026 · Business & Financial Times →
The state-owned Tema Oil Refinery has completed audited financial statements for 2019–2024 and 2025, clearing a six-year backlog and submitting seven audited reports to the State Interests and Governance Authority by May 2026. Managing Director Edmond Kombat said the refinery had not produced audited financial statements for six consecutive years when he took office, and restoring this capability was essential for credibility, investment, and sound management decisions.
1 July 2026 · The Chronicle →
Prof. Michael Kpessa-Whyte, SIGA Director-General, argued that institutional quality is a macroeconomic determinant, not merely an abstract governance indicator, and that transparency in the public sector reduces business costs, attracts investment, and builds tax morale necessary to fund public services.
30 June 2026 · Business & Financial Times →
The National Food Buffer Stock Company (NAFCO) achieved a financial turnaround in 2025, recording a net profit of GH¢91.7 million compared to a GH¢19 million loss in 2024, driven by governance reforms including a new Procurement Department, strengthened Internal Audit, and Board reconstitution. The company also paid GH¢20.3 million in taxes, its highest annual tax contribution in 16 years.
18 June 2026 · The Chronicle →
The National Food Buffer Stock Company (NAFCO) recorded a net profit of GH¢91.7 million in 2025, a significant turnaround from a GH¢19 million loss in 2024, and paid GH¢20.3 million in taxes—the highest annual tax contribution in the company's 16-year history. The State Interests and Governance Authority credited the recovery to governance and operational reforms including improved procurement, audit functions, and board reconstitution.
17 June 2026 · Joy Online →
The Parliamentary Minority has called for a bipartisan committee to investigate the Ghana Ministers of State Excellence Honours following allegations that individuals were required to make financial payments to secure recognition. The State Interests and Governance Authority Director-General claimed he was asked to pay GH¢50,000 for an award.
11 June 2026 · Joy Online →
Two citizens have petitioned President John Mahama to investigate government officials who allegedly paid money ranging between GH¢25,000 and GH¢50,000 to receive awards at the 6th Ghana Ministers of State Excellence Awards held in Accra on June 6, 2026.
10 June 2026 · Daily Guide →
Two citizens have petitioned President Mahama to investigate government officials who allegedly paid money to receive awards at the 6th Ghana Ministers of State Excellence Awards in Accra on June 6, 2026. The petition alleges that awardees paid between GH¢25,000 and GH¢50,000 to secure recognition, and names several government ministers among the recipients.
10 June 2026 · Daily Guide →
President John Dramani Mahama has directed ministers, CEOs of state institutions, and political appointees to stop participating in, endorsing, sponsoring, or accepting awards from private organisations without prior approval from his Office. The directive cites concerns that many award-giving bodies lack transparent, objective criteria and pose risks of undermining public service integrity and creating false impressions about government performance.
9 June 2026 · Daily Guide →
The 2024 State Ownership Report shows 35 of 54 state-owned enterprises turned a profit, but the sector posted a net loss of GH¢9.68 billion after tax, worse than the GH¢7.14 billion loss in 2023, driven by losses at a handful of giant utilities and currency revaluation effects from the weakening cedi.
9 June 2026 · Business & Financial Times →
The Secretariat of the Ghana Ministers of State Excellence Honours has denied claims that recipients must make financial contributions to receive recognition, stating that all honours are awarded solely on merit, leadership and service to national development. The denial follows concerns raised by Prof. Michael Kpessa-Whyte about the potential for awards to become transactional.
9 June 2026 · Joy Online →
Professor Michael Kpessa-Whyte, Director-General of the State Interests and Governance Authority, has rejected claims by the CEO of Big Events Ghana that he publicly celebrated being named "Best CEO of the Year," describing the allegation as "a palpable lie" and challenging the awards organiser to provide evidence of the alleged social media post.
9 June 2026 · Joy Online →
Prof. Michael Kpessa-Whyte, Director-General of SIGA, declined a "Best CEO of the Year" award from an organisation styling itself as "Ghana Ministers of State Excellence Honours," citing lack of clarity on the award year, assessment criteria, panel composition, performance indicators, and contenders, and concerns about payment requirements for attendance.
7 June 2026 · Joy Online →
Tema Oil Refinery has completed audited financial statements for 2019–2025 and posted a Profit Before Tax of GH¢1.24 billion in 2025, its first year of profitability in a decade. The State Interests and Governance Authority commended the refinery for resolving the audit backlog and achieving financial recovery through improved governance and operational reforms.
2 June 2026 · Business & Financial Times →
The Tema Oil Refinery recorded a profit before tax of GHS 1.24 billion in 2025, its first profit in a decade, driven largely by a GHS 1.3 billion foreign exchange gain and improved crude oil processing following maintenance works. The State Interests and Governance Authority attributed the turnaround to improved revenue generation and financial management, though cautioned that challenges including liquidity pressures and accumulated deficits remain.
1 June 2026 · Joy Online →
President John Mahama has cautioned chief executives of state-owned enterprises that failure to submit audited accounts and annual reports within the timeframe set by the State Interests and Governance Authority could result in dismissal. The President said some state-owned enterprises had operated for several years without producing audited financial statements or annual reports, and has incorporated submission of these documents into chief executives' key performance indicators.
1 June 2026 · Joy Online →
Persistent losses by state-owned enterprises (SOEs) pose a risk to Ghana's fiscal balance and debt sustainability following the IMF bailout, according to a corporate governance consultant. The article contextualizes Ghana's SOE sector from independence through economic crises of the 1980s–90s, which reduced government capacity to finance operations and worsened SOE performance.
19 May 2026 · Business & Financial Times →
As of May 1, only 61 out of 185 state-owned enterprises and specified entities submitted their 2025 financial statements to SIGA by the April 30 deadline, representing a 32% compliance rate. More than 100 entities had neither submitted statements nor provided reasons for delays.
12 May 2026 · Joy Online →
On inauguration day, Ghana's Presidential Transitions Act automatically removes all board members from every state-owned enterprise simultaneously, requiring the new government to undertake months-long appointment cycles that consume significant political energy and administrative bandwidth.
4 May 2026 · Joy Online →