HISTORY OF SEC
The beginning of what is now the State Enterprises Commission is traceable to the State Enterprises Secretariat, which was incorporated in 1965 under Legislative Instrument (L.I. 47).
The Secretariat was tasked to promote within the framework of Government policy, the efficient and profitable operation of Statutory Corporations engaged in trade and industry.
In 1967 when the Ghana Industrial Holding Corporation (GIHOC) was established, the existing parastatals were brought under its umbrella.
The State-Owned Enterprises (SOE) sector, however continued to expand leaving many of the parastatals outside GIHOC. The need therefore arose, to create a monitoring outfit to exercise general supervision of operations with the view to advising Government on appropriate measures to take to ensure efficient management and profitability within the SOE sector.
The first State Enterprises Commission was established by SMCD 10 in 1976 to supervise the operations of statutory corporations, review their objectives, initiate thorough management audit and determine the suitability of enterprise management of all the corporations.
The Government of the Third Republic through the enactment of the State Enterprises Commission Act, 1981 (Act 433) replaced the then Commission with a new one. The functions of this Commission were, however, similar to those of its predecessor.
The present State Enterprises Commission (SEC) was established in 1987 under PNDC Law 170. Under the law, the Commission was charged to promote efficient and profitable operation of the SOEs, utilising the tools of corporate planning, performance contracting, monitoring and evaluation.
Its rebirth can be attributed, among others, to the institutional reforms brought about by the introduction in 1983 of the then Government’s Economic Recovery Programme (ERP). It was under the SOE Reform Programme (SOERP), one of the components of the ERP, that PNDC Law 170 was promulgated as part of the restructuring of SEC.
Since then, the mission, objectives, structure and functions of the Commission have been widened to encompass the management of the SOERP and to advise Government on reform priorities and implementation strategies.
Under the programme by the National Institutional Renewal Programme (NIRP) to reform institutions that constitute the Central Management Agencies (CMAs) environment, which commenced in Year 2000, SEC underwent another restructuring to take on additional responsibilities for performance management in different environments in the public sector. Under this restructuring, subvented organizations that are to be transformed into commercial entities are to be added to the SOEs that are under the purview of the Commission.
This has been given legal backing through the enactment of the Sub-vented Agencies Act (Act 706) of 2006.
Successive governments and Donor Agencies have recognized SEC’s expertise in organizational restructuring, Corporate Planning, Performance Management, Capacity Building and Corporate Governance, among others. They continue to tap into SEC’s growing expertise in all these disciplines.
In sum, the Commission’s role, over the years, has been, and continues to be advisory, limited to corporate planning, performance management, governance and consultancy services to both Government and Prescribed Bodies.
VISION & MISSION
To facilitate performance management in SOEs and other prescribed bodies, within the framework of Government policy, to ensure that they operate efficiently, effectively and profitably thereby contribute towards the socio-economic development of Ghana.