The State Interests and Governance Authority (SIGA) has called upon all Specified Entities (SEs) to adhere strictly to the statutory requirement of signing Performance Contracts.

This call was highlighted during a breakfast meeting led by the Acting Director-General of SIGA, Prof. Michael Kpessa-Whyte, who emphasised the importance of these contracts in driving transparency, efficiency, and alignment with national development goals.

He warned that drastic actions will be taken against heads of Specified Entities who fail to sign performance contracts.

He said “I want to remind all Heads of Specified Entities that President John Mahama has consistently emphasized that there will be serious consequences for those who display weak commitment to signing performance contracts”

Prof Kpessa-Whyte added that “the message is clear: drastic actions will be taken against any head of our specified entities who falters in this commitment.”

He said signing the performance contract is not merely about ticking a box; it is about delivering on the promise of public service, about driving Ghana's development, and about securing the financial health the country.

All State-Owned Enterprises (SOEs), Other State Entities (OSEs), and Joint Venture Companies (JVCs) with majority state interest are automatic participants in this Performance Contract regime.

The State Interests and Governance Authority (SIGA) of Ghana oversees a diverse array of Specified Entities (SEs), which encompass State-Owned Enterprises (SOEs), Joint Venture Companies (JVCs), and Other State Entities (OSEs).

These entities span various sectors critical to the nation's development, including energy, agriculture, transportation, and finance.

Prof Kpessa-Whyte said as of 2024, SIGA had secured 70 signed Performance Contracts. While this marks progress from previous years – up from 69 in 2023, 64 in both 2022 and 2021, and 47 in 2020 and 2019 respectively –it was significantly below capacity.

He said “the Cabinet-approved Register of Specified Entities lists a staggering 175 institutions. This leaves over 100 entities that have not yet complied with this mandatory obligation”.

Prof Kpessa-Whyte reiterated that the growing compliance gap is not a minor oversight but a fundamental challenge that undermines the full potential of SIGA’s oversight and the breakfast meeting was convened to deal with the matter.

He believes among others that signing performance contracts are crucial for enhancing accountability and transparency, driving performance and efficiency

Performance contracts spearheaded by SIGA often set clear, measurable Key Performance Indicators (KPIs) that are precisely aligned with national goals to ensure that every effort contributes directly to the advancement of Ghana.