SIGA awaits cabinet approval on recapitalization of SOEs on local bourse
The State Interests and Governance Authority (SIGA) are awaiting approval from Cabinet on the listing of selected state-owned enterprises (SOEs) that have the potential of making profit on the Ghana Stock Exchange.
Amb. Edward Boateng, the Director-General of SIGA, announced this at an Editors’ Forum last Thursday at the authority’s office in Accra.
“We have made our recommendation to cabinet, so we waiting for the decision of cabinet, I think once they come up with the approval, we can make that public, we are working very closely with the Ghana Stock Exchange.
It is important to all of us that we use that cheaper source of funding to push some of these entities forward.”
The Authority, he said would also facilitate efforts for the SOEs to secure local and international partnerships with prospective investors towards making them financially viable, profitable and enable them pay dividends to government.
Mr. Boateng said SIGA, although created about three years ago, was working to secure its mandate and also position it as efficient and excellent entity, and demands same from entities under its watch.
Further he indicated that the efficiency with which some SOEs are working will translate in this year’s Attorney-General’s report with fewer infractions being recorded ; “ I have every conviction that this year, 2023 Auditor-General’s report may be one of the best in the country because the infractions are going to reduce and nobody wants to come and sit infront of SIGA for the tough questions.”
The maiden SIGA Editors’ Forum was themed “Understanding the Role of SIGA”, the forum is an initiative of SIGA is intended to strengthen the existing relationship between the Authority and the media and provide the public with accurate information by way of data, facts, statistics and new developments.
Mr. Boateng, lauded the role of the media in nation-building and stressed their importance as key stakeholders in disseminating information and educating the public on activities of Specified Entities.
He said SIGA was established to oversee government interests in the Specified Entities to ensure they operate profitably and efficiently.
“We are therefore poised to make a change to support His Excellency the President Nana Addo Dankwa Akufo-Addo’s vision for Specified entities to contribute 30% to Ghana’s GDP. In light of this, our stakeholders and Ghanaians must be informed of the numerous programmes and initiatives that our Specified Entities are implementing to help the country’s socioeconomic development. As a result, we will need your understanding and support to communicate our progress, challenges, and success stories to the public,”
