Governing Boards and Chief Executives of Specified Entities publicly commit to binding reforms at the
close of the 2026 SIGA Governing Boards and CEOs Conference
ACCRA, GHANA, SEPTEMBER 2026. Board Chairpersons and Chief Executive Officers of Specified
Entities under the oversight of the State Interests and Governance Authority (SIGA) today publicly read,
accepted and signed ten binding commitments on finance and governance, marking the formal conclusion of
the 2026 SIGA Governing Boards and CEOs Conference held at the Labadi Beach Hotel, Accra, Ghana.
The commitments were adopted at the close of the conference convened under the theme “Creating Public
Value through Leadership, Corporate Governance and Performance Excellence,” and followed extensive
panel deliberations among Board Chairpersons, Chief Executive Officers and senior governance practitioners
drawn from across SIGA's portfolio of Specified Entities, comprising State-Owned Enterprises, joint venture
companies and other state bodies.
The commitments were made pursuant to the statutory oversight mandate of SIGA under the State Interests
and Governance Authority Act, 2019 (Act 990), the Public Financial Management Act, 2016 (Act 921), and
the Public Financial Management Regulations, 2019 (L.I. 2378), and having regard to the corporate
governance obligations prescribed under the Companies Act, 2019 (Act 992). Signatories affirmed that the
commitments accord with the Code of Corporate Governance for Specified Entities and Public Service
Organisations and with international best practice in corporate governance.
According to the Director General of SIGA, Prof Michael Kpessa-Whyte “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.”
FINANCE COMMITMENTS
Under the sub-theme, Finance, Financing the Future, the Board Chairs and CEOs committed to the following
five undertakings.
1. Lead our Entities 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, to be reviewed by the Board at least annually.
2. Actively explore, and where viable deploy, alternative financing instruments, including public-private
partnerships, blended finance, infrastructure bonds, and other capital-market instruments, and work with
SIGA and relevant regulators to identify and address the institutional and regulatory barriers to their use.
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State Interests and Governance Authority (SIGA) | 2026 Governing Boards and CEOs Conference
3. Strengthen governance, transparency, financial discipline, and strategic asset management within our
Entities, including the responsible leveraging of land, infrastructure, and other assets, to become
investment-ready and to ensure that any additional capital secured translates into measurable public value.
4. Institutionalise robust financial planning, budgeting, and cash-flow management, anchored in realistic
revenue projections and disciplined cost control, to strengthen the financial resilience, solvency, and
creditworthiness of our Entities.
5. Subject every major financing or investment decision to rigorous feasibility analysis, independent due
diligence, and risk assessment, and will report transparently to SIGA and other stakeholders on the
performance and returns of capital so deployed.
GOVERNANCE COMMITMENTS
Under the sub-theme, Governance, Leading and Governing for Results, The Board Chairs and CEOs
committed to a further five undertakings.
1. Maintain a clear and mutually respected boundary between Board strategic oversight and CEO executive
authority and will operate as accountability partners in the interest of our Entities and the State.
2. Treat compliance with SIGA's statutory oversight requirements, including the timely negotiation, signing,
and implementation of performance contracts and the submission of required information, as a core
governance obligation and a genuine management and accountability tool, not a mere administrative
exercise.
3. Accept individual and collective accountability for the performance of our Entities and will ensure that
persistent non-compliance or under-performance is addressed promptly, transparently, and with
appropriate consequence, in accordance with Act 990, Act 921, L.I. 2378, and Act 992.
4. Uphold the highest standards of ethical leadership and integrity, proactively identifying and managing
conflicts of interest, resisting undue interference in operational decision-making, and fostering a culture of
transparency and zero tolerance for corruption within our Entities.
5. Invest in institutional capacity, including Board and management competence, succession planning, and
robust risk-management and internal-control systems, to secure the continuity, resilience, and performance
excellence of our Entities beyond the tenure of any individual leader.
The ten commitments were read aloud by Hon. Sammy Gyamfi before the full conference and affirmed by
acclamation, before being formally signed by each Board Chairperson and Chief Executive Officer present, in
a ceremony that brought the 2026 SIGA Governing Boards and CEOs Conference to a close.
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 will track
implementation through its existing performance contracting and oversight mechanisms and will report
periodically on progress.
