SIGA, MOF (PFM4SD and PES Collaborate to Enhance Ghana’s Public Financial Management
SIGA in collaboration with the Public Financial Management for Service Delivery (PFM4SD) Program Coordinating Office (PCO) at the Finance Ministry are organizing a two-day management retreat.
The retreat which is scheduled for August 1st to 2nd, 2023, at the Capital View Hotel in Koforidua is bringing together staff from SIGA, the Ministry of Finance’s Public Investment and Assets Division (PIAD), and the Public Enterprises Secretariat (PES).
The initiative is a result of the Government of Ghana’s approval for the implementation of the PFM4SD Program, and the subsequent declaration of the effectiveness of the program by the World Bank. The objective of the PFM4SD is to strengthen the oversight, performance management, and fiscal discipline of State-Owned Enterprises (SOEs).
During the retreat, participants will delve into matters concerning the achievements of Institutional Disbursement Linked Indicator Four (DLI4) and their respective Disbursement Linked Results (DLRs). DLI 4 seeks to strengthen oversight, performance management, and fiscal discipline of SOEs. Implementation will improve resource allocation consistent with government priorities. The Program will help enhance SOEs’ performance, corporate governance, and accountability, and reduce the fiscal burden imposed on the national budget (DLI 4), creating a better fiscal space for financial service delivery. Additionally, participants will draft a work plan for the program implementation.
Ambassador Edward Boateng, the Director General of SIGA who is also the Chairman for the retreat in his address emphasized the importance of using the opportunity and the funds to be provided as a mechanism to help put SOEs and Specified Entities (SEs) on a positive pedestal to enable them contribute positively towards national development. He further urged participants to adopt a comprehensive approach to developing the work plan. He emphasized the importance of achieving the project’s key deliverables to access necessary financial support from the World Bank.
On his part, Dr. Mohammed Sani Abdulai, Programme Director of PFM4SD and retreat host, offered a historical overview of the Public Financial Management Reforms for Results project. He encouraged the team to work closely with stakeholders to ensure that all KPIs were met successfully.
With this collaborative effort between SIGA, PIAD, and PES, Ghana aims to bolster its public financial management system and deliver efficient services through State-Owned Enterprises.