Ghana: Technical Assistance Report-Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation
Technical Assistance Reports, September 9, 2026
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- Ghana: Technical Assistance Report-Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation
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Bibliographic details
- Published: September 9, 2026
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229060073.019
Overview
- Reviews Ghana’s progress in strengthening governance, financial oversight, fiscal risk management, and investment practices of state-owned enterprises (SOEs).
- Notes significant reforms over the past decade, including:
- Establishment of the State Interests and Governance Authority (SIGA) as a centralized ownership entity.
- Adoption of the State Ownership Policy.
- Improvements in fiscal risk monitoring.
- Identifies major remaining challenges:
- SOE liabilities continuing to grow.
- Fiscal risks concentrated in a small number of large entities.
- Persistent losses in the energy and commodity sector SOEs weighing on public finances.
Key Findings
- SOE landscape, fiscal risks, governance arrangements, and infrastructure investment practices were assessed.
- Fiscal vulnerabilities are concentrated and linked to macro-critical SOEs.
- Data gaps and limited information-sharing constrain effective fiscal risk monitoring and integration into the budget process.
- Governance and board appointment practices require enhancement to improve accountability and performance.
- Oversight of SOE-led infrastructure investments needs strengthening to reduce fiscal exposure.
Priority Policy Recommendations
- Strengthen oversight of macro-critical SOEs.
- Integrate fiscal risk reporting into the budget process.
- Improve data sharing between the Ministry of Finance and SIGA.
- Enhance governance and board appointment practices for SOEs.
- Strengthen oversight of SOE-led infrastructure investments.
Expected Outcomes of Implementation
- Improved SOE financial sustainability.
- Reduced fiscal risks associated with SOEs.
- Strengthened governance and accountability across state-owned enterprises.
- Better SOE performance for the benefit of Ghana’s economy and public finances.
Content in this bundle
- Tarea2026073