Only 72 of 148 state enterprises in Ghana signed contracts in 2025 — MyJoyOnline
In Ghana, only 72 of 148 designated state enterprises signed performance contracts in 2025. Another 71 enterprises submitted quarterly reports on time, Michael Kpessa-Whyte, Director-General of the State Interests and Governance Authority (SIGA), told MyJoyOnline.
Compliance with accountability requirements
Speaking at an event at the La Palm Royal Beach Hotel, Professor Kpessa-Whyte also drew attention to compliance with annual accountability requirements. According to him, only 37 of the 177 enterprises set as the target held annual general meetings or stakeholder meetings during the year.
The SIGA head said that some designated enterprises continue to resist the authority's oversight or place themselves outside its scope. According to him, the absence of performance contracts and the failure to submit quarterly reports complicate the early identification of risks and the taking of corrective measures.
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Audited reporting and dividends
At the same time, the number of enterprises that submitted audited financial statements rose from 53 in 2024 to 108 in 2025. Kpessa-Whyte called this the highest recorded coverage level and noted that such reports give SIGA a more accurate picture of the performance and financial condition of the state enterprise portfolio.
He stressed that fulfilling one obligation does not compensate for failure to comply with other governance requirements. Kpessa-Whyte warned that such gaps could later turn into contingent liabilities for public finances and weaken confidence in state enterprises.
Separately, the professor reported that of 53 state enterprises, only two paid dividends to the government based on their 2024 performance. The total amount of payments was 16 million Ghanaian cedis. The dividends were paid by Ghana Reinsurance Company and National Development Company.
