Dissolution of SOE boards signals Mahama’s resolve to shake up government — Prof Agyeman-Duah

Professor Baffour Agyeman-Duah, a governance expert, suggests that President John Mahama's decision to dissolve the boards of nine state-owned enterprises (SOEs) reflects his resolve to shake up the government. The professor, interviewed on The Key Points, believes the reasons behind the dissolutions might extend beyond the financial performance of the institutions.

He hints at the possibility of inefficiency or undisclosed wrongdoing within some of the affected boards. Agyeman-Duah notes that the move indicates the president is willing to overhaul his government to meet his goals for the rest of his term. He emphasizes that the motive may not solely be about profitability, implying there could be other undisclosed factors at play.

President Mahama, on September 2, ordered the immediate dissolution of the boards of Prestea Sankofa Gold Limited, Bulk Oil Storage and Transportation Company (BOST), Volta Aluminium Company (VALCO), Consolidated Bank Ghana (CBG), Ghana Post Company, Road Maintenance Trust Fund, TDC Ghana, Ghana National Petroleum Corporation (GNPC), and the National Sports Authority.

The board members were to be formally notified according to laws and governing instruments. Management teams of the affected institutions were directed to continue their daily operations under sector ministries' supervision until new boards were formed, but were restricted from making significant policy, financial, or contractual decisions requiring board approval without prior authorization during the interim period.