The Director General of the State Interests and Governance Authority (SIGA), Prof Michael Kpessa-Whyte, has called on State-Owned Enterprises (SOEs) to adopt a dual approach of reducing operational costs and diversifying revenue streams to enhance their performance and drive economic recovery. "They should find alternative sources of raking in more revenue, they should diversify their revenue sources while at the same time bringing down their operational costs as well. "That eventually will translate into some recovery," Prof Kpessa-Whyte stated on Channel One TV's The Point of View on Wednesday March 19.
He also described President John Dramani Mahama's recent directives to the heads of State-Owned Enterprises (SOEs) as clear and non-negotiable marching orders.
President Mahama had called for a sweeping overhaul of SOEs, aiming to curb financial mismanagement and enhance their contribution to national development.
prof Kpessa-Whyte said that the President would not hesitate to remove underperforming SOE leaders who fail to meet the expected standards of efficiency and financial accountability. "More importantly, I saw his [Mahama's] speech as marching orders, as telling all of us, myself, my colleagues, and everybody who was in that room that there will be clear indicators around which your performance will be measured," he stated.
