Over 100 Specified Entities SEs, including State-Owned Enterprise (SOEs), Other State Enterprises (OSEs), and Joint Venture Com­panies (JVCs) with majority state interest, are yet to sign the per­formance contract with the State Interest and Governance Authority (SIGA).The performance contract is a legal and strategic instrument that compelled entities to adhere to clear objectives, measurable targets, and critical performance indicators.The Acting Director Gener­al of SIGA, Professor Michael Kpessa-Whyte, who confirmed this at breakfast meeting in Accra yesterday, said SIGA had witnessed tremendous progress in the signing of performance contracts by speci­fied entities over the past five years.According to him, SIGA se­cured the 70 signed performance contracts in 2024, which was an increase to the 69 secured in 2023.In addition, Prof.

Kpessa-Whyte said SIGA secured a total number of 64 Performance Contracts in 2022 and 2021, as well as 47 in 2020 and 2019.However, he noted that the 70 Performance Contracts secured by SIGA in 2024 meant there were over 100 specified entities that needed to sign the performance contract, as the Cabinet-approved Register of Specified Entities lists a staggering 174 institutions.Prof.

Kpes­sa-Whyte ex­plained that the compliance gap in the perfor­mance contract was a funda­mental challenge that undermined SIGA's oversight responsibility of improving transparency and elevating fiscal risk to the state.Furthermore, he said that the situation impedes the ability of SIGA to ensure that specified enti­ties delivered the public value they were established to provide."SOEs, OSEs, or JVCs, are cru­cial to delivering essential services, driving strategic sectors of the economy, and contributing to national development goals."Yet, we have seen from evidence that the effectiveness and efficiency of most of the specified entities have often been hampered by a lack of clear performance benchmarks, leading to under-performance, inefficiencies, and sometimes, significant financial losses," Prof.

Kpessa-Whyte said.He said that SIGA acknowl­edged the peculiar context under which most entities operate, es­pecially in the complex structural and legal transitions they navigate as well as the genuine capacity constraints they grappled with.Prof.