The Director-General of the State Interests and Governance Authority (SIGA), Professor Michael Kpessa-Whyte, has cautioned heads of State-Owned Enterprises (SOEs) against the misuse of public funds, stressing that such resources must be used strictly to deliver results and not for personal comfort.

Speaking at the SIGA 2026 Annual Stakeholders Conference and PELT Awards on Thursday, March 19, 2026, he urged board chairs, board members, and chief executives to take corporate governance seriously.

“Good corporate governance is not paperwork. It is the protection of public money and public assets,” he said.

He explained that the difference between successful institutions and failing ones often comes down to how well they are governed.

“It is the difference between institutions that serve the nation and institutions that burden the nation,” he noted, appealing to SOE leadership to put governance at the centre of their work.

He emphasised the role of active committees, particularly audit and risk committees, insisting that internal controls must be enforced, not merely documented, citing the constant losses recorded by some state entities.

“The losses we see in our enterprises are decisions of boards and management. Make your boards work,” he stressed.

He warned that weak systems create room for financial leakages and erode public confidence.

“Treat the internal control function as a shield for the institution, not as a nuisance… Where controls are weak, leakages follow. Where leakages follow, credibility collapses,” he said, while also cautioning against conflicts of interest in procurement, recruitment, and decision-making.

He further called for strict adherence to reporting and compliance requirements, warning that delays could have serious consequences.

“Delays in reporting do not merely break rules. They weaken oversight, hide risk, and expose public resources,” he cautioned.

The SIGA 2026 Annual Stakeholders Conference and PELT Awards brought together key players in the SOE sector, with the First Lady of Ghana also in attendance.







SO/MA