SIGA Signs Performance Contract with State Owned Enterprises

On Monday , 26th July, 2021, the State Interests and Governance Authority (SIGA) organized its 2021 Performance Contract Signing ceremony at the Movenpick Ambassador Hotel in Accra. This comes as part of the efforts at ensuring that State Entities live up to their tasks and in fulfilment of State Interest and Governance Authority’s legal mandate.

The 2021 Performance Contract Signing took a different dimension as it was signed in the presence of the President of the Republic of Ghana, H. E. Nana Addo Dankwa Akufo-Addo who delivered a keynote address on a topic, “Driving Implementation of Performance Enhancement Measures in SOEs, JVCs and other State Entities. “

President Akufo Addo with some dignitaries at the signing ceremony

The president in his address took the opportunity to commend the D-G for SIGA, Hon. Stephen Asamoah Boateng (Asabee) for his wonderful and great leadership qualities that he has displayed as the Director-General for SIGA which has made most State Owned Enterprises to bounce back in terms of their performances.

SIGA DG Honourable Stephen Asamoah Boateng looks on as contract is been signed

The Director General for SIGA, Hon. Stephen Asamoah Boateng reiterated that after the formation of SIGA in 2019, government transferred its shares and carried interests in Specified Entities (State-owned Enterprises (SOEs), Joint Venture Companies (JVCs) and Other State Entities (OSEs) to the single entity (SIGA) and thus, SIGA is required to take steps to ensure that State Entities adhere to good corporate governance and operate in ways that will generate profit and efficiency to government and, by extension, the taxpayer. Thus, SIGA will ensure that State Entities comply with the signing of their performance contract every year for monitoring and evaluation purposes and to fulfil the key performance indicators (KPIs).

The Hon. Asamoah Boateng who believes workers and management as well as their boards deserve a better renumeration emphasized that, “We believe that staff, management and boards should be paid very well but salaries and allowances should be tied to performance. It is based on this that State Entities are expected to negotiate a performance contract, which become the basis upon which they are assessed”.

The Minister of State in charge of Public Enterprises admonished the various Heads of institutions to always do their best since that will help us build strong and competent institutions because the masses expect more from the state entities. He reiterated his belief in the leadership prowess of Hon. Stephen Asamoah Boateng and knows under his (Hon. Asamoah Boateng) leadership he will make sure no stone will be left unturned to turn the fortunes of the Entities around.

The performance contract signing ceremony started with a performance contract evaluation, the climax of which is the Performance Contract Signing Ceremony that was held yesterday. The Chief Executive Officers or Heads of State Entities and their Board Chairpersons attended and signed their respective documents upon which their work will be evaluated in the ensuing fiscal year.

In all, seventy (70) entities were represented by their Heads and Board representatives in addition to eighteen (18) sector ministers for the 2021 Performance Contract Ceremony.


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