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Gov’t Appointments Not a Reward – Asamoah Boateng Cautions

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The Executive Chairman of the State Enterprises Commission, Mr. Asamoah Boateng has cautioned board members of the various State-Owned Enterprises not to see their position as a kind of reward.

According to him, many CEOs and board members perceive their appointments as political reward from government, and an opportunity to make money.

“State Owned Enterprises (SOEs) were not setup for jokes. They were setup to fill vacuums where the private sector will normally not go. When we set up SOEs, it is a huge responsibility on those who are managing it. You are managing it for the people of Ghana and you must have the public service mindset”, he said.

He disclosed this to journalists at the inaugural ceremony of the newly sworn –in board members of the Volta River Authority (VRA).

Outlining some key issues that CEOs and board members must tackle, Mr. Boateng stressed on the need to stop wastage and leakages in the various sectors.

“You must look at the revenue stream. What is it that the company has set up to do that is bringing in money to sustain yourself or the economy? Secondly, you must stop wastage and leakages. You can’t sit on a company where people take the money anyhow and they don’t account for it. And finally, you must cut cost, he noted”

Training of Board Members

Asamoah Boateng further revealed that his outfit is organizing a training programme for all Board of Directors to appreciate their roles and to steer the affairs of management.

“There are training programmes that we are offering to the Board of Directors. You must look out for certain things in the balance sheet and profit or loss account, and if you don’t understand those financial statements then one day there will be penalty. There is a personal liability that if you are not careful the legal constraints are there.”

He cautioned that the Public Financial Management Act, allows a person to be sanctioned even after four or five years of public service.

Target

Mr. Asamoah Boateng has tasked the seven-member board of the Volta River Authority, and GNPC to go international.

“Ghana has attained independence for 60 years now. VRA, when I was a kid was popular known as ‘Akosombo Kanea’. If we mention VRA, it must be in Australia, Malaysia and other countries. GNPC now we have refined oil and money is coming in, what are they using it for? So, I want them to shine and we all will be happy”, he hinted.

Source: Emmanuel Yeboah Britwum/ The Publisher

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