Mahama warns SOE CEOs over failure to submit audited accounts and reports

President John Dramani Mahama has warned Chief Executive Officers of State-Owned Enterprises (SOEs) that they risk dismissal if they fail to submit audited accounts and annual reports on time as required by the State Interests and Governance Authority (SIGA).

Speaking at a diaspora town hall meeting in London on May 31, 2026, the President said compliance with reporting obligations will no longer be optional, stressing that strict enforcement will be applied.

He indicated that submission of audited financial statements and annual reports has now been made a key performance requirement for SOE heads as part of efforts to strengthen accountability and improve governance in public institutions.

According to him, some state enterprises have failed to submit required financial reports for as long as seven years, a situation he described as unacceptable and damaging to public financial management.

President Mahama noted that poor performance and mismanagement in SOEs often create financial burdens for the state, as losses eventually become part of Ghana’s public debt.

He emphasised that government is committed to tightening oversight of SOEs to ensure transparency, efficiency and responsible use of public resources, adding that CEOs who fail to comply with the directive will be removed from office.