The State Interests and Governance Authority (SIGA) on Monday, August 7, 2023, convened a virtual meeting on the Public Financial Management for Service Delivery (PFM4SD) programme.

The meeting brought together heads of Specified Entities to engage in deliberations regarding significant matters pertaining to the realization of the PFM4SD. The programme is a World Bank-funded initiative that aims to empower SIGA to support Specified Entities in developing robust business strategies; improving operational efficiency; enhancing financial performance; and implementing best corporate governance practices.

The virtual forum follows a two-day managerial retreat held the previous week in conjunction with the Ministry of Finance’s Public Financial Management for Service Delivery (PFM4SD) Program Coordinating Office (PCO), which gathered personnel from SIGA, the Ministry of Finance’s Public Investment and Assets Division (PIAD), and the Public Enterprises Secretariat (PES).

In her welcome address, the Chief of Staff, Honorable Akosua Frema Osei-Opare, who also served as the meeting’s esteemed Chairperson, highlighted the critical role that SIGA has played in advancing the Government’s goal of a transformed SOE sector. She went on to reiterate the Presidency’s steadfast commitment to the course, as indicated by the government’s approval for the implementation of the PFM4SD programme.

On his part, Ambassador Edward Boateng, the Director-General of SIGA, shared insights into the primary objectives of the gathering. He proceeded to underscore the need for seamless collaboration and teamwork between SIGA and its Specified Entities to ensure the realization of the programme’s objectives.

He said: “I am pleased to announce that Ghana has received a substantial funding allocation from the World Bank. This funding has come at a critical juncture and will significantly bolster our ongoing development initiatives. A sum of $150 million has been secured in funding from the World Bank to execute the Public Financial Management for Service Delivery Program (PFM4SD), $10 million of which will enable SIGA to achieve the objectives of Disbursement Link Indicator 4 (DLI 4). DLI 4 aims at strengthening the oversight, performance management, and fiscal discipline of SOEs. Under DLI 4, SIGA is expected to achieve 3 Disbursement Link results, which are summarized as follows;

1. To produce 15 performance evaluation reports in the next 5years
2. To produce Three (3) comprehensive annual State Ownership Reports published within 8 months of financial year-end.
3. Reduced net subsidiaries/transfer from Government to the SOE sector by one(1)percentage point.

SIGA cannot achieve this goal alone without the cooperation and collaboration of our highly esteemed Heads of Specified Entities. We are by this meeting laying the foundation for the implementation of activities within this programme because the economic growth and stability we seek is dependent on it.”

Under the guidance of Dr. Mohammed Sani Abdulai, the Programme Director of PFM4SD, participants were led through a comprehensive overview of the PFM4SD programme.

 

Bringing the session to a close, Ambassador Edward Boateng moderated an interactive question-and-answer session, affording participants the opportunity to seek clarity on various key facets of the programme.