The State Interests & Governance Authority (SIGA) hosted the second edition of the Public Enterprises League Table (PELT) Awards, bringing together government officials, business leaders, and stakeholders.
The esteemed awards ceremony, which took place at the Accra International Conference Centre (AICC), aimed to recognize the top-performing State-Owned Enterprises (SOEs) and Other Specified Entities (OSEs) in Ghana, as assessed by their Annual Performance Contracts with the government.
Ambassador Edward Boateng, as the Director-General of SIGA, extended a cordial welcome to the distinguished guests in attendance, comprising State Ministers, Members of Parliament, CEOs of Specified Entities, members of the diplomatic community, media delegates, and development partners.
The SIGA D-G conveyed his appreciation for the backing and involvement of Specified Entities in both the inaugural and subsequent editions of the PELT Awards.
Corporate governance
The event, themed “Fostering an Economic Superhighway via Enhanced Corporate Governance of Designated Entities,” underscored the pivotal role that advanced corporate governance plays in shaping the nation’s future. Ambassador Edward Boateng stressed that corporate governance serves as the bedrock for sustainable growth and development.
A noteworthy advancement preceding the event was a recent study tour to China’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
A delegation of 30 members, comprising CEOs, Board Chairs, and top management from various state enterprises in Ghana, visited SASAC to acquire knowledge on the effective management and utilization of state-owned assets.
The study tour unveiled significant findings, including the worldwide reach of Chinese State-Owned Enterprises (SOEs), the government’s influential role in steering SOEs, their emphasis on innovation and technology, and substantial commitments to Research and Development (R&D).
These observations have strengthened the conviction that Ghana has the potential to emulate China’s achievements through a dedicated emphasis on corporate governance.
The PELT Awards, initially involving 64 participants, has grown to include more than 170 Specified Entities, underlining the increasing significance and influence of these awards in enhancing corporate governance and value enhancement within SEs.
An evaluation by the PELT technical team demonstrated a notable rise in performance across SEs, highlighting the transformation from concerns regarding non-performance to enhanced efficiency and accountability.
Ambassador Edward Boateng, in his closing statements, extended his appreciation to the organizing committee and partner organizations, including PricewaterhouseCoopers (PWC) and the Institute of Directors Ghana (IOD-Gh), for their unwavering commitment and expertise in ensuring the fairness and accuracy of the evaluation process. He urged all stakeholders to persist in raising corporate governance standards, fostering healthy competition, and enhancing the efficiency and profitability of Specified Entities (SEs) to contribute to Ghana’s prosperity and development.
The second edition of the PELT Awards celebrated the achievements thus far and eagerly anticipated a brighter future for Specified Entities, aiming for a more prosperous Ghana.
Awards Recipients:
The Food and Drugs Authority (FDA) received the top honor as Entity of the Year.
The FDA also secured awards for SOE of the Year and Most Innovative SOE of the Year.
Other noteworthy recipients included the Civil Aviation Authority (SOE of the Year), the Ghana Metrological Agency (Most Efficient SOE of the Year), the Ghana Airports Company Ltd (Most Profitable SOE of the Year), and the Ghana National Petroleum Corporation (Most Compliant SOE of the Year).
Additionally, accolades went to the Northern Electricity Development Company Ltd (Best SOE in Dynamic Effect), the Ghana Irrigation Development Authority (Most Compliant SOE), and the Gaming Commission of Ghana (Most Financially Sustainable SOE).