Improving performance of Specified Entities
This year’s Policy and Governance Forum has been organised in Accra on the theme: "Improving the performance of Specified Entities; Leadership and Technology".
The annual forum affords the State Interests and Governance Authority (SIGA) a unique opportunity to have all-inclusive discussions with Specified Entities (SEs), civil society organisations, development partners, relevant ministries and other stakeholders on strategies being implemented by the government to enhance the performance of state-owned enterprises (SOEs), joint venture corporations (JVCs) and other state enterprises (OSEs), collectively referred to as SEs.
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This year’s forum, collaboratively organised by the Ministry of Finance and the Ministry of Public Enterprises, was very significant because it dovetailed into the country’s economic recovery amidst the COVID-19 pandemic.
Addressing the forum last Friday, the Director-General of SIGA, Mr Edward Boateng, was of the view that imparting change should not be a slow grinding wheel.
Indeed, he underscored the need for SEs to move with a renewed sense of purpose and urgency.
We note with worry that many SEs are yet to submit their management and audited accounts for the 2020 fiscal year, while some even have not submitted accounts dating as far back as the 2017 fiscal year.
Indeed, the impressions of the performance and compliance by SEs shared by many speakers at the forum were gloomy, with the speakers holding the view that SEs must do more to solve problems militating against improved performance.
We cannot continue to decry the poor performance of SEs and lay out stringent sanctions for infractions, going forward.
The fact that the Controller and Accountant-General’s Department is to expand the scope of the new accounting regime to include SEs is an important first step in improving comprehensive national financial performance reporting.
We also note with concern the challenge brought about by the lack of policy coherence among state institutions.
From SIGA’s point of view, conflicting policies and actions across government agencies, departments and SEs have blurred the common goal and resulted in needless turf wars, duplication of efforts, delays, the high cost of doing business, among others.
It suggests that streamlining existing policies or introducing clear new ones that help address these and other legacy issues will be an important first step to sharpen operational efficiency and effectiveness and help secure investment.
In all of these, we at the Daily Graphic trust that the SIGA forum will offer an opportunity for all SEs to share common challenges and knowledge on best practices, as well as make proposals for resolution, which will impact positively on national development, as well as consolidate the socio-economic and political gains so far made over the period.
There is no denying the fact that the SEs have a lot to do if Ghana is to achieve or realise the goal of a Ghana Beyond Aid — the blueprint to achieving economic independence and the cornerstone of a resilient Ghanaian economy.
In today’s world, there is the need to work smart. The world, including Ghana, is going digital, and we expect our SEs to be part of it. As suggested at the SIGA forum, SEs must leverage Ghana’s digital transformation agenda to harness their potential.
Anything short of that will not help our SEs to achieve set goals for themselves and the national development effort.
It will not come easy, but with focused planning, working smart and a greater sense of urgency, our SEs can play their desired roles in helping to improve performance, as well as transform the economy.