Board Chairpersons and Chief Executive Officers of specified entities under the oversight of the State Interests and Governance Authority (SIGA) have signed 10 binding commitments to improve financial sustainability, corporate governance, and performance.
The commitments were adopted at the close of the 2026 SIGA Governing Boards and CEOs Conference held at the Labadi Beach Hotel in Accra.
The conference was convened under the theme “Creating Public Value through Leadership, Corporate Governance and Performance Excellence” and brought together board chairpersons, CEOs and senior governance practitioners from across SIGA’s portfolio of state-owned enterprises, joint venture companies and other state bodies.
The commitments cover five areas of finance and five areas of governance, with SIGA expected to track their implementation through its existing performance contracting and oversight mechanisms.
Speaking at the conference, the Director General of SIGA, Prof. Michael Kpessa-Whyte, said the commitments marked a shift from declarations to measurable obligations.
“These commitments mark a decisive shift in how our Specified Entities are financed and governed. Our Boards and Chief Executives have moved beyond words to binding undertakings that will be tracked, measured and enforced. This is what public value looks like in practice,” he said.
Under the finance commitments, the board chairs and CEOs pledged to progressively reduce reliance on subventions, sovereign-backed borrowing and incidental foreign exchange gains, in favour of sustainable, market-based and internally generated financing strategies.
They also committed to exploring alternative financing instruments, including public-private partnerships, blended finance, infrastructure bonds and other capital-market instruments, where viable.
The entities further pledged to strengthen financial transparency, discipline and strategic asset management, including the responsible use of land, infrastructure and other assets to attract investment and generate measurable public value.
Other finance commitments include institutionalising robust financial planning, budgeting and cash-flow management, as well as subjecting major financing and investment decisions to feasibility analysis, independent due diligence and risk assessment.
On governance, the signatories committed to maintaining a clear distinction between the strategic oversight responsibilities of boards and the executive authority of CEOs.
They also pledged to treat compliance with SIGA’s statutory oversight requirements, including the timely negotiation, signing and implementation of performance contracts and submission of required information, as a core governance obligation.
The commitments further require boards and management to accept individual and collective accountability for the performance of their entities, with persistent non-compliance or under-performance addressed promptly and with appropriate consequences.
The signatories also pledged to uphold ethical leadership and integrity, manage conflicts of interest, resist undue interference in operational decision-making and foster a culture of transparency and zero tolerance for corruption.
They committed to investing in institutional capacity, including board and management competence, succession planning, risk management and internal-control systems, to ensure continuity and performance beyond the tenure of individual leaders.
The 10 commitments were read aloud by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, before the conference and affirmed by acclamation.
They were subsequently signed by the board chairpersons and CEOs present at the ceremony, marking the formal conclusion of the conference.
The commitments take effect from the date of signing and will guide the conduct of the boards and management of the affected specified entities until formally reviewed by SIGA.
The Authority said implementation would be monitored through its existing performance contracting and oversight mechanisms, with periodic reports on progress.
The commitments were adopted pursuant to SIGA’s statutory oversight mandate under the State Interests and Governance Authority Act, 2019 (Act 990), the Public Financial Management Act, 2016 (Act 921), the Public Financial Management Regulations, 2019 (L.I. 2378), and relevant corporate governance obligations under the Companies Act, 2019 (Act 992).
