## Ghana: Technical Assistance Report-Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation

_Technical Assistance Reports, September 9, 2026_

## Source details

**Canonical URL:** [Ghana: Technical Assistance Report-Advancing SOE Fiscal Risks Management, Financial Oversight, Governance, and Investment Implementation](https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493)

## Other formats

- [Markdown version](/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493/index.md)
- [Structured JSON version](/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493/index.json)
- [Bundle manifest](/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493/bundle-manifest.json)

## Bibliographic details
- Published: September 9, 2026
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229060073.019

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### 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.

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## Content in this bundle

- **Tarea2026073**
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_Source: https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/09/09/ghana-technical-assistance-report-advancing-soe-fiscal-risks-management-financial-579493_