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State Ownership Report Delays Must Cease – President Akufo-Addo cautions SOEs
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has charged heads and officials of state-owned enterprises to adhere strictly to the submission timelines instituted by the State Interests and Governance Authority (SIGA) on the preparation and further publication of State Ownership Reports.
“As a follow-up to this directive, I expect the Director General of SIGA to furnish me with the list of all specified entities who have not complied with this directive by May 31, 2024,” President Akufo-Addo has directed.
Speaking at the launch of two policy documents, namely, the Code of Corporate Governance for Specified Entities and Public Service Organisations in Ghana and on the State Ownership Policy for Specified Entities, during the 2024 Annual Policy and Governance Forum, on Tuesday, April 23, 2024, the President said, this important duty is a key part of measures by government to enhance transparency and accountability in the governance and management of our public enterprises, thereby ensuring that they deliver on their mandates, and contribute to the national economy.
With SIGA mandated to prepare the State Ownership Report, which serves amongst others, as an accountability and transparency document, President Akufo-Addo said the reports, give government and the public access to information on public enterprises’ financial and non-financial performances.
Citing non-compliance to the submission of financial statements by public entities as a key constraint to preparation and publication of SORs, the President said with these financial statements becoming central to the preparation of the SOR, board chairs of all specified entities, in the Cabinet approved list of entities, are expected to submit their audited accounts and statements to SIGA by May 15, 2024.
He further urged specified entities who are yet to align themselves with the oversight mechanisms established by SIGA, to heed the call with urgency, adding that their “reluctance to comply, not only erodes the fabric of transparency and accountability, but also undermines the integrity of our nation’s financial framework.”
“It is imperative that we uphold collectively the principles of good cooperate governance, which leads to accountability and transparency, to safeguard the interest of the State, in the running of public enterprises,” he said.
Reminding participants of government’s resolve to ensure that the public enterprises sector, contribute about 30 percent of the country’s GDP, he said considerable strides towards this target has been made as latest reports from the Controller and Accountant General’s Department indicate that the number of specified entities, included in the national accounts, has increased from 19 in 2020 to 62 in 2022.
Additionally, “entities signing performance contracts with SIGA rose from six in 2016, to 73 in 2023, thus underscoring how transparent and accountable government has been so far as governance and management of our public enterprises are concerned.”
He singled out for special recognition and praise, the management of entities like, BOST, VRA, TDC Development Company Limited, and Ghana Re-insurance amongst others, for transforming successfully the entities from debt-ridden to profitable public enterprises.
“TDC Development Company Limited and Ghana Re-insurance holds special significance for me, due to the steadfast commitment, to paying dividends consistently to the government and I take this opportunity to encourage the other SOEs to emulate their laudable feat,” President Akufo-Addo indicated.
He said the policy document as launched provides clearly defined objectives for ownership and articulates the establishment of proper systems for managing and accessing the performance of the state ownership interests in our public enterprises.
In the light of these, “my government has implemented reforms, aimed at enhancing transparency, streamlining operations, and mitigating risks within state-owned enterprises, however, we recognise that there is still more work to be done, hence the need to launch the two new policy documents on, The Code of Corporate Governance for Specified Entities and Public Service Organisations in Ghana, and secondly, The State Ownership Policy for Specified Entities, to enhance even further, transparency, accountability and good governance within our specified entities.”
The Ashanti South Regional Police Intelligence Directorate has arrested two suspects in connection with a robbery attack on an Indian national in Obuasi and a separately planned robbery operation targeting a distribution company in the same area.
On April 16, 2026, Police received credible intelligence that a group of armed men were planning an attack in Obuasi. A police team moved swiftly into the area and arrested suspect Iddrisu Fuseini, also known as “Iddi”, at his hideout in Bedieso, Obuasi.
During interrogation, he confessed to being part of a six-member gang that attacked an Indian national at his residence at New Baakoyeden, Obuasi, on April 12 2026, robbing him of GH₵150,000.00.
He disclosed that the attack was orchestrated following a tip-off from suspect Ibrahim, an employee of the victim, who informed the gang that the victim kept large sums of money.
Further investigations led to the arrest of a second suspect, Shaibu Mohammed, also known as “SM” or “Cicinati”, on 20th April 2026 at his hideout in Gausu, Obuasi. During interrogation, he admitted to participating in the planning of the robbery and confirmed that the gang had further planned to rob a distribution company near Mawuli Hotel in Obuasi.
Investigations have further revealed that both suspects are currently standing trial at the Obuasi Circuit Court in connection with a separate robbery of GH₵600,000.00.
A manhunt is ongoing to arrest the remaining accomplices, identified as Khalifa, Edward, Prof, Waddle, Ebbe, and Ibrahim, and to recover a pump action gun and a locally manufactured pistol believed to be in their possession.
The Inspector-General of Police (IGP), Mr. Christian Tetteh Yohuno, together with members of the Police Management Board (POMAB), on April 17, 2026, decorated nineteen (19) senior officers who have been promoted to their next ranks based on the recommendations of the Police Council and approval of the President, John Dramani Mahama.
The ceremony, held at the National Police Headquarters in Accra, forms part of efforts to recognise merit, dedication, and long-standing service within the Ghana Police Service, while strengthening leadership across key operational and administrative levels.
The officers promoted from Deputy Commissioner of Police (DCOP) to Commissioner of Police (COP) are Dr. Luke Asue-In-Yeng Zakpaa, Mr. Frederick Agyei, Mr. Duuti Tuaruka, Mr. Arthur Osei-Akoto, Mr. Darko Offei Lomotey, Mr. Eric Ken Winful, Mr. Barnabas Nambont Nasumong, and Mr. Desmond Owusu Boampong.
The IGP and members of POMAB congratulated the officers and urged them to uphold the highest standards of professionalism and integrity in the discharge of their duties.
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