Audio By Carbonatix
The Energy Sector is the best performing in terms of revenue contribution to the state.
The above revelation was made by the Director-General of the State Interests and Governance Authority (SIGA), Stephen Asamoah-Boateng when he appeared on UTV’s late news segment.
He said contrary to opinion that energy sector entities are a drain on the state, they are among the best performing, accounting for over 60 percent of revenue from State owned-Enterprises, Joint Venture Companies and Specified Entities.
The Director-General of SIGA attributed this turnaround to the leadership of President Akufo-Addo in instituting SIGA to facilitate performance management in SOEs and other prescribed bodies, within the framework of Government policy, to ensure that they operate efficiently, effectively and profitably.
Referring to data from the 2019 State Ownership Report, he said that the lists of top 10 SOEs by revenue and net profit were dominated by energy sector entities such as Electricity Company of Ghana (ECG), Volta River Authority (VRA), Ghana National Petroleum Corporation (GNPC), and Bui Power Authority (BPA).
The State Ownership Report is a document that was initiated in 2017 as part of the government’s strategy to reform and improve the governance and financial performance of SOEs. The initiative sheds light on the performance of SOEs and improves transparency and accountability in the SOE sector.
Mr Asamoah-Boateng also thanked SOEs for been hailed for their improvement in the submission of audited accounts and financial reports by the same State Ownership Report.
Latest Stories
-
Recurring floods expose growing humanitarian crisis in Agbozume as hundreds receive emergency relief
1 minute -
Margins delivers first GAM ID – President Barrow is inaugural recipient
10 minutes -
Drug Abuse and Ghana’s Human Security Crisis: The silent destruction of a generation’s potential
37 minutes -
Floods ravaged Ghana could generate GH¢556 in economic benefits for every GH¢1 invested in sanitation
55 minutes -
Gov’t pays $700m Eurobond bill ahead of schedule, total hits $2.1bn
1 hour -
‘Suspend it now’ – FABAG appeals directly to Mahama to halt new import verification programme
1 hour -
Gov’t cannot talk ease of doing business while adding more costs – FABAG rejects Ghana Easy Pass
1 hour -
You cannot threaten people into silence about their own history
1 hour -
‘This is another tax by another name’ – FABAG warns new import rules will push up prices
2 hours -
BoG injects $2.01bn into forex market as cedi records first monthly gain of 2026
2 hours -
Ghana congratulates U.S. on 250th Independence Anniversary
2 hours -
Science-driven conservation critical to Africa’s sustainable future – Prof Debrah
2 hours -
University of Ghana bemoans delay in AI curricula approval
2 hours -
Godfred Dame questions legality of former NAFCO CEO’s arrest, says access to client was denied
2 hours -
Haruna Iddrisu orders GTEC to withdraw retirement directive affecting university lecturers
2 hours