Mahama warns boards against assuming management functions in SOEs

President John Dramani Mahama warned governing boards of State-Owned Enterprises (SOEs) against assuming management functions, stating that this practice weakens accountability and impacts institutional performance. He addressed the 2026 Governing Boards and CEOs Conference in Accra, emphasizing that boards should focus on strategic direction, risk oversight, financial reporting integrity, and performance monitoring.

Boards and management teams must operate within their designated roles. The President cautioned boards against taking up day-to-day executive positions, stating that boards govern while management manages. He stressed the importance of clear distinctions between the responsibilities of boards and management. President Mahama noted that boards that engage in routine operational decisions compromise accountability through interference, and that executives who resist board oversight also undermine accountability and governance.

He urged board members to prioritize the public interest over personal interests and political considerations, and to exercise independent judgment and ask tough questions when necessary. The President reiterated his administration's dedication to accountability, transparency, and good corporate governance across state institutions.

He emphasized that appointments to boards and management positions should be based on competence, integrity, diligence, and performance. The conference aimed to promote good corporate governance of SOEs after a strong performance in the previous year. The President called for transparent procurement processes, merit-based recruitment, and proper management of state assets, highlighting that effective governance is crucial for enhancing SOE performance and safeguarding public resources.