Board Chairpersons and Chief Executive Officers of Specified Entities under the oversight of the State Interests and Governance Authority (SIGA) today publicly read, accepted and signed ten binding commitments on finance and governance, marking the formal conclusion of the 2026 SIGA Governing Boards and CEOs Conference held at the Labadi Beach Hotel, Accra, Ghana.
The commitments were adopted at the close of the conference convened under the theme “Creating Public Value through Leadership, Corporate Governance and Performance Excellence,” and followed extensive panel deliberations among Board Chairpersons, Chief Executive Officers and senior governance practitioners drawn from across SIGA’s portfolio of Specified Entities, comprising State-Owned Enterprises, joint venture companies and other state bodies.
The commitments were made pursuant to the statutory oversight mandate of SIGA under the State Interests and Governance Authority Act, 2019 (Act 990), the Public Financial Management Act, 2016 (Act 921), and the Public Financial Management Regulations, 2019 (L.I. 2378), and having regard to the corporate governance obligations prescribed under the Companies Act, 2019 (Act 992). Signatories affirmed that the commitments accord with the Code of Corporate Governance for Specified Entities and Public Service Organisations and with international best practice in corporate governance.
According to the Director General of SIGA, Prof Michael Kpessa-Whyte “These commitments mark a decisive shift in how our Specified Entities are financed and governed. Our Boards and Chief Executives have moved beyond words to binding undertakings that will be tracked, measured and enforced. This is what public value looks like in practice.”
Finance Commitments
Under the sub-theme, Finance, Financing the Future, the Board Chairs and CEOs committed to the following five undertakings.
- Lead our Entities to progressively reduce reliance on subventions, sovereign-backed borrowing, and incidental foreign exchange gains, in favour of sustainable, market-based and internally generated financing strategies, to be reviewed by the Board at least annually.
- Actively explore, and where viable deploy, alternative financing instruments, including public-private partnerships, blended finance, infrastructure bonds, and other capital-market instruments, and work with SIGA and relevant regulators to identify and address the institutional and regulatory barriers to their use.
- Strengthen governance, transparency, financial discipline, and strategic asset management within our Entities, including the responsible leveraging of land, infrastructure, and other assets, to become investment-ready and to ensure that any additional capital secured translates into measurable public value.
- Institutionalise robust financial planning, budgeting, and cash-flow management, anchored in realistic revenue projections and disciplined cost control, to strengthen the financial resilience, solvency, and creditworthiness of our Entities.
- Subject every major financing or investment decision to rigorous feasibility analysis, independent due diligence, and risk assessment, and will report transparently to SIGA and other stakeholders on the performance and returns of capital so deployed.
Governance Commitments
Under the sub-theme, Governance, Leading and Governing for Results, The Board Chairs and CEOs committed to a further five undertakings.
- Maintain a clear and mutually respected boundary between Board strategic oversight and CEO executive authority and will operate as accountability partners in the interest of our Entities and the State.
- Treat compliance with SIGA’s statutory oversight requirements, including the timely negotiation, signing, and implementation of performance contracts and the submission of required information, as a core governance obligation and a genuine management and accountability tool, not a mere administrative exercise.
- Accept individual and collective accountability for the performance of our Entities and will ensure that persistent non-compliance or under-performance is addressed promptly, transparently, and with appropriate consequence, in accordance with Act 990, Act 921, L.I. 2378, and Act 992.
- Uphold the highest standards of ethical leadership and integrity, proactively identifying and managing conflicts of interest, resisting undue interference in operational decision-making, and fostering a culture of transparency and zero tolerance for corruption within our Entities.
- Invest in institutional capacity, including Board and management competence, succession planning, and robust risk-management and internal-control systems, to secure the continuity, resilience, and performance excellence of our Entities beyond the tenure of any individual leader.
The ten commitments were read aloud by Hon. Sammy Gyamfi before the full conference and affirmed by acclamation, before being formally signed by each Board Chairperson and Chief Executive Officer present, in a ceremony that brought the 2026 SIGA Governing Boards and CEOs Conference to a close.
The commitments take effect from the date of signing and will guide the conduct of the Boards and Management of the affected Specified Entities until formally reviewed by SIGA. The Authority will track implementation through its existing performance contracting and oversight mechanisms and will report periodically on progress.
