The International Monetary Fund (IMF) has raised a red flag over political appointments to Ghana’s State-Owned Enterprises (SOEs) boards, citing specifically the Ghana Ports and Harbours Authority (GPHA) chairman Asiedu Nketia.
According to the IMF, the politicisation of board and executive appointments at State-Owned Enterprises (SOEs) could weaken corporate governance, accountability and effective oversight of the entities.
The IMF raised this concern in their report, titled “Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation”, published in July 2026
They argued that although Ghana’s legal framework provides for merit-based appointments, the selection of boards of major SOEs remains highly centralised, with significant influence resting with the Presidency.
The IMF cited the Ghana Ports and Harbours Authority (GPHA), whose newly inaugurated 10-member board is chaired by the national chairman of the governing party and also pointed to the Volta River Authority (VRA), where prominent politicians serve alongside technocrats and a traditional leader.
The IMF warned that the appointment structure could undermine the independence of SOE boards.
The report stated, “In practice, boards of major SOEs are largely dominated by political appointees, with board chairs frequently being ministers, members of parliament, or prominent party officials. For example, GPHA’s newly inaugurated ten‑member board is chaired by the national chairman of the governing party, while the VRA board also includes prominent politicians alongside technocrats and a traditional leader. Compared with OECD norms, which caution against active politicians serving on SOE boards and emphasise independent, professional majorities, this represents a significant divergence”.
They further called for merit-based procedures, saying, “Formal and transparent procedures for the selection and appointment of SOE board members and chief executive officers remain insufficiently articulated and institutionalised.
The appointment processes for some entities are not guided by clear, merit-based criteria, competency profiles, or standardised vetting procedures, increasing the risk of politicisation and weakening accountability. This can undermine SOE boards’ effectiveness, dilute fiduciary responsibility, and adversely affect SOE performance.”
Meanwhile, John Mahama has warned his gvernment will not tolerate conflict of interest, abuse of office among members of his administration and governing boards of State-Owned Enterprises (SOEs).
He stressed that public officials entrusted with managing state institutions and resources must uphold the highest standards of integrity, transparency and accountability.
“Ladies and gentlemen, this administration will not tolerate conflict of interest or abuse of office. Procurement must be lawful and follow the guidelines; it must be competitive and transparent.
“Recruitment and promotions must be based on merit, and contracts, investments and asset disposal must withstand scrutiny and demonstrate value for money.
“Boards must take personal responsibility for land, buildings, equipment and investments in their custody. Unauthorised disposal, encroachment or dissipation of state assets is not a minor administrative lapse. It is a breach of trust against the people of Ghana.”
Also, President John Dramani Mahama has said a one-year improvement in the performance of Ghana’s state-owned enterprises (SOEs) is commendable but not enough.
According to John Mahama, sustaining the one-year gains will be the real test of the government’s reforms.
Mahama argued that the he 2025 State Interests and Governance Authority (SIGA) report is encouraging but must be backed by stronger core operations.
Speaking at a conference with chief executives and governing boards of SOEs, President Mahama stated, “A one-year turnaround is encouraging, but sustained performance is the real test”.
“These results deserve commendation,” he said, while cautioning that the gains could not depend indefinitely on a favourable business environment or movements in the exchange rate.
“They must, however, be sustained through stronger core operations and cannot depend indefinitely on just a better business environment and the exchange rate movements,” he said.
“Progress by a number of entities cannot mask the persistent weaknesses across the general portfolio,” he said.
@ghnow_ A parent has expressed frustration after their son, who had Grade 9, was reportedly placed in his third-choice school. #GHnow #fyp ♬ original sound – GHnow
@ghnow_ A sister has raised concerns after their son was placed in a school that was not among the eight schools he selected. #GHnow #fyp ♬ original sound – GHnow
