Julius Debrah, Chief of Staff at the Presidency, has on behalf of President John Dramani Mahama, inaugurated a nine-member Board for the State Interests and Governance Authority (SIGA).

The new Board, chaired by a legal practitioner, Madam Nancy Dakwa Ampofo, will lead the organisation’s strategy and mandate to oversee and administer the State’s interests in Specified Entities.

Other members are: Mr Osei Opoku, Mr Anthony Selom Dzadra, Mr Kwadwo Brentuo Mpeani, Mr Peter Osei Asamoah, Prof. Michael Kpessa-Whyte (Director General), Mr Richard Kwame Siaw, Dr. Emefa Aku Ansah and Madam Vida Addae.

Mr Debrah, emphasising the role of SIGA, urged the new Board to consolidate SIGA’s gains, strengthen institutional reforms, and provide strategic leadership.

He emphasised the critical role of SIGA in ensuring accountability, transparency, and improved performance of Specified Entities.

Madam Ampofo, the Board Chair, expressed commitment to ensure SIGA’s work aligned with government priorities.

In June this year, Prof. Kpessa-Whyte, stated that entities which failed to adhere to performance contracts would be sanctioned.

The declaration, during a high-level meeting, was on the back of weak commitment to performance contracts by some State-Owned Enterprises (SOEs), Joint Ventures, and Other State Entities.

Chief Executive Officers (CEOs) of SOEs and Joint Ventures had been briefed on the modalities of performance contracts and the consequences of non-compliance.

Key variables of the performance contracts include Efficiency and Productivity, Management Improvement, Project Implementation, Economic and Financial Positions.

Prof. Kpessa-Whyte noted that sanctions for non-compliance include dismissal, public naming and shaming of entity heads, and the dissolution of boards.

“We can publish the names of entities that have demonstrated a weak culture towards signing performance contracts or have signed performance contracts but are not enforcing them religiously or are not using them religiously to guide their operations,” he stated.

At the same meeting, it emerged that about 100 SOEs had complied with the President’s directive of providing audited accounts to SIGA.