State Enterprises Must Sign Performance Contracts, SIGA Insists
1. Mandatory Contracts for SOEs Under the SIGA Act 990, the State Interests and Governance Authority (SIGA) requires all specified state-owned enterprises (SOEs) to annually negotiate and sign performance contracts. These agreements outline targets and measurable deliverables—backed by legal penalties for non-compliance 2. Digitalisation KPIs Now Included SIGA is updating contract frameworks to include digitalisation key performance indicators (KPIs)—pushed by its Director-General Amb. Edward Boateng. Partners like NITA aim to drive efficiency through digital transformation . 3. Scale of Compliance & Enforcement In 2023, over 70 specified entities—including SOEs and joint ventures—signed performance contracts; the numbers have steadily risen annually . President Akufo‑Addo (Sept 2024) emphasized that signing, producing audited financials, and enforcing these contracts are non-negotiable . Vice‑President Bawumia confirmed the contracts align with public financial regulations—they’re statutory, not optional . 4. Consequences for Non-Compliance SIGA now enforces penalties for […]