The 2018 Performance Contract Negotiations (PCNs) between the Government of Ghana and the State-Owned Enterprises came to a successful end on Friday, February 16, with Metro Mass Transit Limited bringing down the curtains. A total of 35 State Owned-Enterprises (SOEs) took turns to give a report of their past performance in 2017, and presented their outlook for the 2018 business year. This followed with the performance contract Negotiations where targets of their Key Performing Indicators (KPIs) were negotiated based on certain environmental assumptions.
Facilitating the meetings were consultants of the State Enterprises Commission (SEC), with the executive directors as chair persons. Over 30 Chief Executive Officers of various organisations and their management teams and board members of the various organisations partook in the exercise and made it successful.
The Executive Chairman of the State Enterprises Commission, Honorable Stephen Asamoah-Boateng commended the team members from all the agencies that took part in the exercise. He stressed the need to improve business processes and turn around the fortunes of the country’s economy to enhance the general well-being of the citizens. He also encouraged all the SOEs to do in their small way whatever they needed to in order to support the President of the Republic, Nana Addo Dankwa Akufo-Addo’s vision to develop the nation.
Concluding, Hon. Asamoah-Boateng urged all to make it a point in meeting the deadline for submission of audited accounts and budget as stipulated by the Public Financial Management Act (PFM Act 921, 2016), as it comes with strict sanctions for companies who do not comply to meet the deadline.
All the SOEs that took part in the Performance Contract Negotiations will assemble at a venue on March 20, 2018 to sign their various 2018 performance Contract Negotiations with the Government of Ghana, represented by the Ministry of Finance and their respective sector ministries with the State Enterprises Commission witnessing.
The president of the Republic of Ghana Nana Addo Dankwa Akufo-Addo will be the Special guest of Honor for the occasion.
Performance Monitoring and Evaluation of the various SOEs will be undertaken by SEC in the course of the year and immediately after.