Also known as: SIGA · SIGA Director-General
Ghana's state oversight body charged with governance and performance monitoring of state-owned enterprises, headed by Prof. Michael Kpessa-Whyte.
Verbatim sentences from the source article.
Joy Online
… His comments follow the latest State Interests and Governance Authority (SIGA) report, which showed that SOEs recorded a combined net profit after tax of GH¢19.80 billion in 2025. …
SOE profit at GH¢19.8bn: I call it a miracle, but it’s not operational efficiency – Dr AtuaheneJoy Online
… According to the State Interests and Governance Authority’s (SIGA) 2025 State Ownership Report, SOEs recorded a consolidated net profit after tax of GH¢19.80 billion, reversing a GH¢2.25 billion loss in 2024. …
Banking sector faces fresh risk if cedi starts sliding again, Dr Atuahene saysJoy Online
… His comments come after the State Interests and Governance Authority (SIGA) reported a sharp turnaround in the financial performance of SOEs in 2025. …
State Enterprises’ GH¢282bn debt overhang threatens economic stability – Dr AtuaheneJoy Online
… His concerns come amid renewed attention to the financial performance of SOEs following a recent report by the State Interests and Governance Authority (SIGA), which found that several state enterprises recorded profits. …
Conflicting figures raise fresh questions over credibility of SIGA Report on SOEs, says Prof BoadiJoy Online
… His concerns come against the backdrop of recent reports by the State Interests and Governance Authority (SIGA) on the performance of SOEs. …
UPSA Dean questions SIGA Report over contradictory SOE figuresJoy Online
… His comments come after the State Interests and Governance Authority (SIGA) reported a major turnaround in the financial performance of SOEs. …
SOE profits must reflect real efficiency, not just numbers – Dr AtuaheneJoy Online
… His comments come shortly after the State Interests and Governance Authority (SIGA) reported a sharp turnaround in the financial performance of SOEs in 2025. …
We must take critical look at SOEs and shed non-strategic ones – Dr AtuaheneJoy Online
… The State Interests and Governance Authority’s 2025 State Ownership Report, released in August, showed that SOEs swung from a GH¢2.25 billion net loss in 2024 to a GH¢19.8 billion net profit in 2025. …
FX gains, not efficiency, behind much of banking sector’s profit growth, says Dr AtuaheneJoy Online
… The Director General of SIGA, Prof Michael Kpesah Whyte, welcomed the positive turnaround at BOSTenergies including its first dividend payment in its history and urged the Board and Management to remain on track to achieve bigger growth and deliver value to government. …
BOSTenergies reports strong 2025 performance, pays first-ever dividend to governmentJoy Online
… In 2026, he intensified the warning, directing CEOs to submit outstanding audited accounts and annual reports by SIGA’s deadline or risk dismissal, making the submissions part of their performance indicators. …
Presidency reveals ‘impending reshuffle’ of SOE CEOsPresident Mahama has told State-Owned Enterprises that the government will no longer continue to absorb their persistent financial losses, demanding improved efficiency, accountability and profitability from boards and management teams. He stressed that leadership positions must be tied to measurable performance and value creation, and that SOE assets belong to the Ghanaian people.
11 September 2026 · Daily Guide →
President Mahama has told State-Owned Enterprises that the government will no longer continue to absorb their persistent financial losses, demanding improved efficiency, accountability and profitability from boards and management teams. He stressed that leadership positions must be tied to measurable performance and value creation, and that SOE assets belong to the Ghanaian people.
11 September 2026 · Daily Guide →
The IMF has raised concerns about the politicisation of boards and chief executive appointments at Ghana's State-Owned Enterprises, saying boards of major SOEs are largely dominated by political appointees, with board chairs frequently being ministers, MPs, or prominent party officials, which the IMF says departs significantly from OECD guidelines that caution against active politicians serving on SOE boards.
11 September 2026 · Daily Guide →
The Majority Chief Whip has accused the IMF of showing political bias against the NDC government following the Fund's assessment of governance in Ghana's state-owned enterprises, arguing that the IMF criticises NDC administrations over practices also prevalent under NPP rule. The IMF report identified the politicisation of board and chief executive appointments as a major weakness, noting that appointments remain highly political and centralised in the Presidency despite Ghana's framework intended to make them merit-based.
11 September 2026 · Joy Online →
President Mahama has warned that government will no longer absorb persistent financial losses incurred by State-Owned Enterprises, urging their boards and management teams to improve efficiency, accountability and profitability, and that leadership positions must be tied to measurable performance, value creation and profitability.
11 September 2026 · The Chronicle →
An IMF Technical Assistance Report found that 87 percent of contracts under COCOBOD's cocoa roads investment portfolio were directly awarded without competitive tendering, reflecting broader weaknesses in procurement, project costing, and contract management within the state-owned enterprise.
11 September 2026 · Joy Online →
According to an IMF Technical Assistance Report based on the 2024 Auditor-General findings, State-Owned Enterprises accumulated approximately GH¢18.6 billion in financial irregularities, with outstanding debtors and loans accounting for GH¢12.54 billion of the total. The IMF warned that persistent financial weaknesses could increase government's fiscal exposure and called for stronger oversight and governance of SOEs.
11 September 2026 · Joy Online →
President Mahama has cautioned Board Chairs of State-Owned Enterprises to stop meddling in day-to-day operations, emphasizing that boards should focus on strategic direction, policy, and oversight while management handles routine decisions. He stressed that boards govern and management manages, and that a board assuming operational responsibility weakens accountability.
11 September 2026 · Joy Online →
The Ghana Medical Trust Fund is shifting from paying patients' medical bills to addressing structural healthcare gaps, investing in cardiac centres in Kumasi and Tamale, a cancer facility at Korle Bu, and a US$10 million Diagnostic and Imaging Centre at the Greater Accra Regional Hospital. The Fund's strategy, informed by a nationwide healthcare needs assessment, combines financial assistance, medical equipment and infrastructure, specialist training and research into non-communicable diseases.
11 September 2026 · Joy Online →
The International Monetary Fund has identified the politicisation of board and chief executive appointments as a major weakness in Ghana's state-owned enterprises, warning that the practice undermines the independence and professionalism of boards despite established frameworks intended to make appointments merit-based. The IMF cited examples including the Ghana Ports and Harbours Authority, where the board was chaired by the national chairman of the governing party, and the Volta River Authority, which has prominent politicians on its board alongside technocrats, noting these arrangements depart from OECD standards that emphasise independent and professional majorities.
10 September 2026 · Joy Online →
President Mahama commended the Ghana Gold Board for recording a net profit of approximately GH¢896 million (compared with GH¢178.5 million in 2024), attributing the performance to transparent and accountable structures around Ghana's gold trade. He cautioned that the gains must be sustained through stronger core operations and cannot depend indefinitely on favourable business conditions and exchange rate movements.
10 September 2026 · Joy Online →
President Mahama has raised concerns over delays by state-owned enterprises in submitting audited financial statements, with only 61 of 162 entities meeting the April 30 statutory deadline in 2025. Mahama described the compliance gap as unacceptable and stressed that timely audited financial statements are essential for effective oversight and accountability in the management of public resources.
10 September 2026 · Joy Online →
President Mahama has told boards and management of state-owned enterprises that survival is no longer acceptable as success, demanding stronger performance and financial discipline. He reported that five SOEs recorded losses every year from 2021 to 2025, while other state entities recorded an aggregate deficit of $10.48 billion in 2025, up from $2.40 billion in 2024.
10 September 2026 · Joy Online →
President Mahama told Ghana's state-owned enterprises that they must convert financial gains into lasting operational efficiency and demonstrate credible evidence of value created for citizens, stressing that public ownership must produce public value and that persistent losses can no longer be quietly transferred to the national budget.
10 September 2026 · Joy Online →
President Mahama has declared that the government will no longer absorb persistent financial losses from State-Owned Enterprises, and that leadership positions in SOEs must be linked to measurable performance and profitability. He stated that SOE boards and management must improve efficiency and remember that public assets under their control belong to the people of Ghana.
10 September 2026 · Joy Online →
The Director-General of the State Interests and Governance Authority (SIGA) raised concerns over poor compliance with governance requirements among state-owned entities, citing that only 72 of 148 targeted entities signed performance contracts in 2025 and just 71 submitted quarterly reports on time. However, he noted progress in audited account submissions, which increased from 53 in 2024 to 108 in 2025.
10 September 2026 · Joy Online →
IMANI Africa Vice President Bright Simons and State Interests and Governance Authority Director-General Prof. Michael Kpessa-Whyte clashed on JoyNews over SIGA's report on Ghana's state-owned enterprises, with Simons questioning the figures, methodology and conclusions, while Prof. Kpessa-Whyte defended the report's integrity and data.
7 September 2026 · Joy Online →
Dividend payments from State-Owned Enterprises to the Government fell by 45.5 per cent in 2025 to GHS16.0 million from GHS29.36 million in 2024, with only two SOEs—Ghana Re and Tema Development Company—paying dividends during the period.
7 September 2026 · The Chronicle →
Dividend payments by State-Owned Enterprises to the Government fell by 45.5 per cent in 2025 to GHS16.0 million from GHS29.36 million in 2024, with only Ghana Re and Tema Development Company paying dividends during the review period.
7 September 2026 · Joy Online →
An opinion piece argues that the Chief Justice's visits to state-owned enterprises to assess their performance fall outside his constitutional remit, which limits him to heading the Judiciary and presiding over the Supreme Court, and constitute an unconstitutional blurring of separation of powers.
6 September 2026 · Joy Online →
Lawyer Yaw Appiah Lartey has urged the State Interests and Governance Authority (SIGA) to separate commercial entities from public-service institutions in its reporting, arguing that combining them distorts the overall assessment of state-owned entities' financial performance. He noted that about 90% of entities covered by SIGA's report are engaged in commercial activities, while roughly 10% are public-service institutions, and that commercial and public-service entities should be evaluated on different criteria.
5 September 2026 · Joy Online →
A Deloitte partner has cautioned state-owned enterprises against treating audited financial statements as sufficient corporate governance compliance, noting that SOEs must also hold annual general meetings. While he welcomed the increase in entities submitting audited accounts—from 53 to 108—he stressed that filing accounts alone is insufficient for proper governance.
5 September 2026 · Joy Online →
Dennis Miracles Aboagye, Director of Communications for the Bawumia Campaign Team, has criticised a State Interests and Governance Authority (SIGA) report, claiming errors in the document affected some of its conclusions. He acknowledged SIGA's improved reporting quality and said his concerns centred on errors rather than methodology.
5 September 2026 · Joy Online →
IMANI Africa Vice President Bright Simons denied accusations from SIGA Director-General Michael Kpessa-Whyte that he used AI to analyse a 448-page SIGA report, saying technology was used only for data extraction and that he has not delegated his professional judgment to AI over 20 years of policy analysis.
5 September 2026 · Joy Online →
The Director General of the State Interests and Governance Authority has defended the figures in SIGA's report on state-owned enterprises' performance, saying the data were drawn from audited accounts and that foreign exchange movements and operational efficiency both shaped the results.
5 September 2026 · Joy Online →
NPP Communications Director Dennis Miracles Aboagye has accused the government of putting a political spin on the latest SIGA report by presenting reported profits by state-owned enterprises as evidence of a dramatic turnaround in their performance, questioning whether institutions with longstanding structural challenges could realistically have been transformed within one year.
5 September 2026 · Joy Online →
IMANI Africa's Bright Simons has challenged the State Interests and Governance Authority's portrayal of state-owned enterprises' financial performance, arguing that underlying data do not support the claim of a "massive" turnaround despite SOEs posting a combined net profit of GH¢19.8 billion in 2025 against a loss of GH¢2.25 billion in 2024. Simons cited indicators including the number of profitable entities, cumulative losses, current ratios and dividend payments as evidence that the turnaround narrative is not borne out by the data.
5 September 2026 · Joy Online →
Bright Simons of IMANI Africa challenges SIGA's claim of recording the highest proportion of audited financial statements from state-owned entities, arguing that the 2021 figure of 68% exceeded the latest 66%. Simons also questions the report's presentation of profitability and claims the number of profitable entities declined.
5 September 2026 · Joy Online →
BOSTenergies has paid GH¢34.2 million in dividends to the Government, its first dividend payment to the State. The company's 2025 revenue reached GH¢3.81 billion and total assets increased by 50 per cent to GH¢3.99 billion, reflecting improved financial performance and management.
4 September 2026 · The Ghanaian Times →
Ghana Ports and Harbours Authority increased net profit by 17.18 per cent to GH¢2.82 billion in 2025, with revenue rising 8.89 per cent to GH¢7.620 billion, driven by increased cargo services income and a GH¢1.531 billion profit contribution from Meridian Port Services.
4 September 2026 · Joy Online →
The Ghana Ports and Harbours Authority recorded a net profit of GH¢2.82 billion in 2025, up 17.18 per cent from GH¢2.41 billion in 2024, with total revenue rising to GH¢7.620 billion, according to the 2025 State Ownership Report by SIGA.
3 September 2026 · Joy Online →