GoldBod CEO Leads State Enterprises in Commitment to Fiscal Discipline and Good Governance

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, Esq., has led Board Chairpersons and Chief Executive Officers of State-Owned Enterprises (SOEs) to take a firm stand on fiscal discipline, alternative financing and good governance.

Speaking on behalf of the leadership collective at the State Interests and Governance Authority (SIGA) conference on September 10, 2026, Mr. Gyamfi outlined a comprehensive set of commitments aimed at driving operational efficiency, financial resilience and sustainable growth across state-owned enterprises.

A central pillar of the agenda is reducing the reliance of SOEs on the state, with leaders pledging to progressively decrease dependence on government subventions, sovereign-backed borrowing and incidental foreign exchange gains by shifting towards sustainable, market-based financing strategies to be reviewed annually by boards.

To support capital-intensive ventures, Mr. Gyamfi and his fellow executives committed to exploring alternative financing instruments, including public-private partnerships, blended finance and infrastructure bonds, while working closely with SIGA to address institutional hurdles.

“Every major investment will now face rigorous feasibility analysis, independent due diligence and risk assessment alongside transparent reporting on capital returns,” he stated.

Mr. Gyamfi noted that, to strengthen internal accountability and financial resilience, SOEs will institutionalize disciplined cash flow management, budgeting and cost control, supported by realistic revenue projections.

He further emphasised the importance of maintaining clear and respectful boundaries between board oversight and executive management, describing boards and executive teams as critical accountability partners for the state.

Furthermore, he said, compliance with SIGA’s statutory requirements, including the timely negotiation of performance contracts and mandated reporting, would be treated as core governance responsibilities rather than administrative box-checking.

He added that persistent underperformance would be subject to transparent enforcement in accordance with the SIGA Act.

Concluding the collective blueprint, Mr. Gyamfi stressed that ethical leadership and anti-corruption measures remain paramount, with executives committing to zero tolerance for corruption, active management of conflicts of interest and resistance to undue interference.

He reiterated that, to ensure long-term institutional continuity beyond individual tenures, SOEs would invest heavily in institutional capacity, robust risk management and strong internal controls to secure enduring performance excellence across the public sector.