President Mahama dissolves boards of nine SOEs, other state institutions

President John Dramani Mahama

President John Dramani Mahama has dissolved the boards of nine state-owned institutions.

A statement issued by the Minister of State in charge of Government Communication, Felix Kwakye Ofosu, indicated that the move by the President takes immediate effect.

The affected institutions include the Ghana National Petroleum Corporation (GNPC), Bulk Oil Storage and Transportation Company Limited (BOST), Consolidated Bank Ghana Limited (CBG), and TDC Ghana Limited.

Even though the reasons for dissolving the boards were not stated, the statement indicated that sector ministers overseeing these entities should ensure that the directive is carried out.

“Relevant sector Ministers have been directed to take all necessary steps, in accordance with the applicable laws and governing instruments, to give effect to the dissolution of these Boards.

“The affected Boards will be reconstituted in due course,” the statement concludes.

Below are all the affected SOEs are:

a. Prestea Sankofa Gold Limited

b. Bulk Oil Storage and Transportation Company Limited (BOST)

c. Volta Aluminium Company Limited (VALCO)

d. Consolidated Bank Ghana Limited (CBG)

e. Ghana Post Company Limited

f. Road Maintenance Trust Fund

g. TDC Ghana Limited

h. Ghana National Petroleum Corporation (GNPC)

i. National Sports Authority