PELT AWARDS CELEBRATES ACHIEVEMENTS IN CORPORATE GOVERNANCE AMONG SPECIFIED ENTITIES
The second edition of the Public Enterprises League Table (PELT) Awards has been organized by the State Interests & Governance Authority (SIGA) in partnership with the Public Enterprises Secretariat (PES) and the Ministry of Finance (MoF).
Under the theme “Developing the Economic Superhighway Through Enhanced Corporate Governance of Specified Entities,” the event acknowledged exceptional Specified Entities based on key metrics outlined in relevant legislation, emphasising the significance of good corporate governance among SEs.
In his introductory remarks, the Director-General of SIGA Amb. Edward Boateng welcomed the attendees, commending them for their unwavering support for the maiden the Public Enterprises League Table (PELT) Awards. According to him, the awards scheme has played a pivotal role in shifting the discourse around SEs from concerns about non-performance to discussions of improved performance and efficiency, with the 2021 Performance Contract Evaluation showing a significant improvement in SE performance. The overall performance of the 64 SEs involved in the evaluation scored 2.737, a notable 6.65% increase from the previous fiscal year.
Amb. Boateng discussed the importance of good corporate governance in developing Ghana’s economic superhighway. He shared insights from a recent study tour to China’s SASAC by a 30-member delegation of SE leaders, expressing confidence in Ghana’s SEs achieving success by strengthening corporate governance.
Hon. Joseph Cudjoe, the Minister of Public Enterprises, on his part highlighted significant progress in the submission of audited financials by Specified Entities (SEs). This progress is indicative of a growing commitment to transparency and accountability within these entities, with the number of financial statements submitted increasing from 132 in 2020 to 139 in 2021.
Despite economic challenges, the Minister commended Specified Entities (SEs) for their determination in advancing crucial projects while acknowledging the need for further improvement, particularly in profitability, dividend payments, timely reporting, and service efficiency. He also reiterated the President’s goal for SEs to contribute at least 30% of GDP, urging all stakeholders to work together to realize this vision.
The Special Guest, Attorney-General and Minister for Justice, Hon. Godfred Yeboah Dame in his statement was appreciative for the kind invitation and entreated Specified Entities to recognize the importance of working within the confines of the Public Financial Management Regulation 2019 (L.I. 2378) which brings clarity to processes and functions outlined in the Public Financial Management Act, 2016 (Act 921). These laws he stated set a high standard for accountability and performance measurement in the public sector and provides a framework that ensures prudent financial management, transparency, and the efficient use of public resources.
Amb. Kabral Blay-Amihere, Special Guest and Board Chair of GRIDCo also extended his sincere appreciation for the opportunity to address the guests and encouraged all Specified Entity Heads and representatives present to ponder on the chosen theme and serve as custodians of their respective organizations by adhering to good corporate governance,enhancing the quality of their to boost revenue streams, generate sustainable profits, and contribute significantly to the government’s coffers through substantial dividends.
Other dignitaries present at the 2nd edition of the prestigious Public Enterprises League Table (PELT) Awards ceremony were Board Chairs, Board Members, CEOs, and Management of SEs, the diplomatic community, development partners, and distinguished guests from the private sector.
About PELT Awards The Public Enterprises League Table (PELT) Awards is a prestigious awards scheme that recognizes outstanding Specified Entities (SEs) in Ghana based on key metrics as defined by the Public Financial Management Act, 2016 (Act 921), Public Financial Management Regulation 2019 (L.I. 2378), and the SIGA Act, 2019 (Act 990). The awards scheme aims to raise the bar for corporate governance standards, promote healthy competition, and improve the efficiency and profitability of Ghana’s Specified Entities (SEs).
Below is the full list of award-winners:
- ENTITY OF THE YEAR (ULTIMATE AWARD)
FOOD AND DRUGS AUTHORITY
- OSE OF THE YEAR
FOOD AND DRUGS AUTHORITY
- MOST FINANCIALLY SUSTAINABLE OSE
GAMING COMMISSION OF GHANA
- MOST COMPLIANT OSE
GHANA IRRIGATION DEVELOPMENT AUTHORITY
- BEST OSE – DYNAMIC EFFECT
FOOD AND DRUGS AUTHORITY
- MOST EFFICIENT OSE
GHANA METROLOGICAL AGENCY
- SOE OF THE YEAR
GHANA CIVIL AVIATION AUTHORITY
- MOST PROFITABLE SOE OF THE YEAR
GHANA AIRPORTS COMPANY LIMITED
- MOST COMPLIANT SOE
GHANA NATIONAL PETROLEUM CORPORATION
- BEST SOE – DYNAMIC EFFECT
NORTHERN ELECTRICITY DEVELOPMENT COMPANY LIMITED
THE 2021 PUBLIC ENTERPRISES LEAGUE TABLE (PELT)
| S/N | SPECIFIED ENTITY |
| 1 | FOOD AND DRUGS AUTHORITY |
| 2 | GHANA CIVIL AVIATION AUTHORITY |
| 3 | GHANA NATIONAL PETROLEUM CORPORATION |
| 4 | BULK OIL STORAGE AND TRANSPORTATION LTD. |
| 5 | GHANA IRRIGATION DEVELOPMENT AUTHORITY |
| 6 | GHANA STANDARDS AUTHORITY |
| 7 | GHANA SHIPPERS AUTHORITY |
| 8 | GHANA AIRPORTS COMPANY LIMITED |
| 9 | VOLTA RIVER AUTHORITY |
| 10 | GHANA BROADCASTING CORPORATION |
| 11 | GAMING COMMISSION OF GHANA |
| 12 | GHANA MARITIME AUTHORITY |
| 13 | ENVIRONMENTAL PROTECTION AGENCY |
| 14 | TDC DEVELOPMENT COMPANY LIMITED |
| 15 | VOLTA LAKE TRANSPORT COMPANY LIMITED |
| 16 | GHANA WATER COMPANY LIMITED |
| 17 | GHANA NATIONAL GAS COMPANY LTD |
| 18 | GHANA GRID COMPANY LIMITED |
| 19 | FORESTRY COMMISSION |
| 20 | GHANA PORTS & HARBOURS AUTHORITY |
| 21 | GRAPHIC COMMUNICATIONS GROUP LIMITED |
| 22 | GHANA SUPPLY COMPANY LIMITED |
| 23 | DRIVER VEHICLE AND LICENSING AUTHORITY |
| 24 | ELECTRICITY COMPANY OF GHANA LTD |
| 25 | NORTHERN ELECTRICITY DEVELOPMENT COMPANY LIMITED |
| 26 | GHANA POST COMPANY LIMITED |
| 27 | GHANA HIGHWAY AUTHORITY |
| 28 | METRO MASS TRANSIT LIMITED |
| 29 | BUI POWER AUTHORITY |
| 30 | GHANA METROLOGICAL AGENCY |
| 31 | STATE HOUSING COMPANY LIMITED |
| 32 | COMMUNITY WATER & SANITATION AGENCY |
| 33 | GHANA COMMODITY EXCHANGE |
| 34 | GHANA INTEGRATED ALUMINIUM DEVELOPMENT CORPORATION |
| 35 | NATIONAL FOOD BUFFER STOCK COMPANY LIMITED |
| 36 | PSC TEMA SHIPYARD |
| 37 | GHANA CYLINDER MANUFACTURING COMPANY LTD |
| 38 | GHANA EXPORT PROMOTION AUTHORITY |
| 39 | GRAINS & LEGUMES DEVELOPMENT BOARD |
| 40 | GHANA RAILWAY COMPANY LIMITED (GRCL) |
| 41 | PRECIOUS MINERALS MARKETING COMPANY |
| 42 | CONSOLIDATED BANK GHANA |
| 43 | GHANA PUBLISHING COMPANY LIMITED |
| 44 | GIHOC DISTILLERIES COMPANY LIMITED |
| 45 | GNPA LTD |
| 46 | GHANA AIDS COMMISSION |
| 47 | GHANA COCOA BOARD |
| 48 | WATER RESOURCES COMMISSION |
| 49 | DATA PROTECTION COMMISSION |
| 50 | NATIONAL THEATRE OF GHANA |
| 51 | TEMA OIL REFINERY |
| 52 | SIC – LIFE |
| 53 | IRRIGATION COMPANY OF UPPER REGIONS |
| 54 | GHANA ENTERPRISES AGENCY |
| 55 | ARCHITECTURAL & ENGINEERING SERVICES LIMITED |
| 56 | PRODUCE BUYING COMPANY LIMITED |
| 57 | NATIONAL INFORMATION TECHNOLOGY AGENCY |
| 58 | NEW TIMES CORPORATION |
| 59 | KUMASI ABBATOIR COMPANY LIMITED |
| 60 | INTERCITY STC LIMITED |
| 61 | NORTHERN DEVELOPMENT AUTHORITY |
| 62 | GHANA NEWS AGENCY |
| 63 | GHANA WOMEN FUND |
| 64 | VENTURE CAPITAL TRUST FUND |
