President Akufo-Addo has issued a directive requiring all state-owned enterprises (SOEs) to submit their audited financial statements for the year 2023 by May 2024.

The President issued the directive during the 2024 annual policy and governance forum of SOEs.

He emphasised his commitment to ensuring strict adherence to the directive, adding that there will be sanctions for the heads and management of non-compliant entities.

The annual policy and governance forum serves as a platform to review the performance of all SOEs for the year under review. These enterprises support the government to fulfill its mandate.

President Akufo-Addo underscored the importance of SOEs in contributing to the country's economic development and emphasised the need for transparency and accountability in their operations.

“The preparation and publication of SORs have always suffered delays due to a litany of constraints. Key among them is the non-compliance of public entities to the submission of finance statements. The 2020 SOR was published in March 2022, and the 2021 SOR was published in January 2024 – this year.”

“The 2022 SOR is now in the final stages of completion. We should not tolerate these delays any further. All board chairs, entities, and management teams are hereby instructed to comply fully with the submission requirements of SIGA,” President Akufo-Addo further said.