The State Interests and Governance Authority (SIGA) is stepping up enforcement measures across State-Owned Enterprises (SOEs), warning that institutions violating financial directives—especially through improper bonus payments—will face strict scrutiny.
Director-General Michael Kpessa-Whyte said SIGA now has enhanced visibility into the finances of SOEs, making it easier to detect irregularities in spending, including unauthorised bonuses and board allowances.
According to him, the Authority closely tracks revenue and expenditure lines of all SOEs, leaving little room for financial mismanagement to go unnoticed. This increased oversight is part of a broader push to enforce discipline and protect public funds.
He stressed that bonuses must be earned through strong performance, not treated as automatic entitlements. Payments made outside agreed performance benchmarks, he noted, constitute a violation of established directives and contractual obligations.
The SIGA boss also endorsed recent moves by the Ministry of Finance to halt unauthorised payments, describing them as necessary steps to restore accountability within the sector.
The renewed enforcement drive comes at a time of heightened public concern over financial irregularities in state enterprises, with audit reports pointing to significant losses and governance lapses.
By tightening controls and linking incentives strictly to performance, SIGA aims to instil a results-driven culture within SOEs and ensure that public institutions operate with the same financial discipline expected in the private sector.
Officials believe that stricter monitoring and compliance will not only curb misuse of funds but also improve the overall performance and credibility of Ghana’s state-owned enterprises.
