President John Dramani Mahama has dissolved the Boards of nine state-owned institutions with immediate effect as part of the government’s ongoing restructuring of leadership at selected public entities.
The directive was contained in a statement issued by the Presidency and signed by Felix Kwakye Ofosu, Minister of Government Communications and Spokesperson to the President.
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According to the statement, the relevant sector ministers have been directed to take all necessary steps to give effect to the dissolution of the Boards.
Nine state institutions affected
The institutions whose Boards have been dissolved are:
- Prestea Sankofa Gold Limited
- Bulk Oil Storage and Transportation Company Limited (BOST)
- Volta Aluminium Company Limited (VALCO)
- Consolidated Bank Ghana Limited (CBG)
- Ghana Post Company Limited
- Road Maintenance Trust Fund
- TDC Ghana Limited
- Ghana National Petroleum Corporation (GNPC)
- National Sports Authority
The Presidency said the dissolution process must be undertaken in accordance with the applicable laws and governing instruments of the respective institutions.
It stressed that the directive should be implemented in line with the legal requirements governing each of the affected entities.
New Boards to be appointed
The Presidency further announced that the dissolved Boards would be reconstituted in due course.
The latest decision is therefore expected to pave the way for the appointment of new Boards to oversee the affected institutions.
The move comes as the Mahama administration continues efforts to restructure the leadership and governance of selected state-owned institutions.
The government has not provided details on the reasons for the dissolution of each Board.
The affected institutions operate across key sectors of the economy, including petroleum storage, banking, mining, telecommunications and postal services, housing and development, sports and public infrastructure.
The dissolution of their Boards is expected to attract attention as the government moves to reorganise governance structures across state-owned enterprises and other public institutions.