President Nana Addo Dankwa Akufo-Addo has sworn-in renowned private sector guru, Mr. Terrace Darko, to the position of Board Chair of the State Interest and Governance Authority (SIGA) to lead the fight against corruption, abuse of power and poor corporate governance practices at the various state-owned enterprises (SOEs).
President Akufo-Addo thanked Mr. Darko, former President of the Ghana Employers Association, for responding to the call of national duty and entreated him to provide the needed direction to the authority and help end the days where board members and corporate executives of SOEs flout rules and regulations with impunity without any punishment
Mr. Darko, who was out of the jurisdiction when the board was inaugurated few months ago, was sworn into office by the President at the Jubilee House in Accra yesterday.
President Akufo-Addo was hopeful that the Board Chair, together with the other members on the board, would help infuse best practices in the management of the country’s public enterprises to make them productive.
He said SIGA per Act 990, 2019, had the mandate to monitor the performance of state owned enterprises and joint venture companies and streamline ownership issues, develop code of corporate governance to guide and promote sound governance and institutional performance of specified entities, and assist the minister of finance to assess the borrowing levels of SOEs in accordance with the country’s laws.
The authority, he added, also had the mandate to ensure that dividend due the state were paid and entreated the board to lift the bar of corporate governance and executive decision making.
President Akufo-Addo told the Board Chair to work in tandem with the respective sector agencies and their boards to move the country on the path of progress and prosperity, adding, “you should be watchdog to ensure that institutions under SIGA live up to their mandate.”
“There should be no reason why SIGA, which has collaborative institutions in all sectors of the economy should be found wanting in the discharge of its functions if the necessary diligence and integrity are brought to bear on its activities,” he said
Mr., Darko, on his part, said he was honoured that the President had bestowed such great responsibility on his “narrow shoulders” and promised to do his best.
“I am encouraged that you have appointed a very energetic Director General in the person of Mr. Stephen Asamoah Boateng. I have also met today, for the first time, Dr. Kwame Afriyie, and we have spent a few interesting moments talking about what he has been doing and I see that with his appointment, we can also rely on his knowledge and expertise. I do promise that we will do our best” he said.