The Volta River Authority (VRA) has signed its Performance Contract for the year 2020 with the State Interests and Governance Authority (SIGA), the body mandated by law to supervise the performance of State-Owned Enterprises (SOE's).
The performance contract, which was signed at a ceremony held at the Labadi Beach Hotel, outlines key deliverables and terms of performance in fulfillment of a statutory provision in the Regulations (196) of the Public financial Management Act (LI2378).
Speaking at the ceremony, which was on the theme: "Transforming State Entities to Contribute Significantly towards 'Ghana beyond Aid'", the Vice-President, Dr. Mahamudu Bawumia reiterated the critical roles SOEs play in the government's economic policy objective to accelerate the socio-economic transformation of the economy.
In his remarks, the Director-General of SIGA, Mr. Stephen Asamaoh Boateng announced the creation of a data base of all State entities to assist with their planned robust monitoring and urged Boards and Managements of SOEs to remain focused and deliver on their mandates.
He further reminded the SOEs of the strict compliance to meet targets set, and the serious consequential penalties, such as refusal to grant bonuses, prosecution, financial charges, recommendations to remove management and Board with court fines and jail terms, for those who fail to perform.
The Authority was represented by the Chief Executive, Mr. Emmanuel Antwi-Darkwa, a Board Member, Chief Musa Badimsugru Adam, Mr. Ebenezer Tagoe, Deputy Chief Executive, (Finance); Director, Corporate Strategy, Ing. Alfred Sackeyfio and Manager, Corporate Planning, Mr. Stephen Ofori.