Director-General State Interests and Governance Authority (SIGA) Professor Michael Kpessa-Whyte has raised the alarm over weak compliance among state entities, revealing that only 72 of 148 institutions signed performance contracts in 2025 and just 37 of 177 held mandatory annual meetings.

Speaking at the SIGA Governing Boards and CEOs’ Conference at the La Palm Royal Beach Hotel in Accra, Professor Kpessa-Whyte said the figures point to serious weaknesses in governance and accountability across some specified state entities.

“Some specified entities continue to resist or place themselves outside SIGA's oversight. The figures are troubling,” he said.

According to him, the compliance gaps extend beyond performance contracts. Only 71 entities submitted their quarterly reports on time, while just 37 of the 177 entities targeted held annual general or stakeholder meetings in 2025.

Professor Kpessa-Whyte stressed that meeting one accountability requirement does not excuse failure in another.

“Partial compliance is not enough. An entity that files audited accounts but does not hold its annual general meeting has left a major accountability obligation unmet,” he stated.

He warned that failure to sign performance contracts and submit quarterly reports makes it difficult for the state to identify institutional risks early and take corrective action.

According to the SIGA Director-General, such gaps could eventually translate into contingent liabilities for the public purse and undermine confidence in state-owned enterprises.

There has, however, been some progress in financial reporting.

Professor Kpessa-Whyte disclosed that the number of entities that submitted audited accounts increased from 53 in 2024 to 108 in 2025, representing the highest coverage recorded by SIGA so far.

“The more audited accounts we have, the more accurate the report we present is,” he said.

He nevertheless maintained that improved financial reporting must be matched by compliance with other governance obligations.