SIGN ANNUAL PERFORMANCE CONTRACT WITH SIGA – HON CUDJOE TO NPRA

The Minister for Public Enterprises, Hon. Joseph Cudjoe, has counseled Management of the National Pensions Regulatory Authority (NPRA) to start signing Annual Perfoamce Contract with the State Insterest and Governance Authority (SIGA).

The Minister indicated that, SIGA as it stands represents government interests in all entities including the State Owned Enterprises (SOEs), the Joint Venture Companies (JVCs) and Other State Entities (OSEs), hence its mandate is to ensure they perform.

“The State Enterprises Commission and the Divestiture Implementation Committee were merged under the SIGA Act, Act 990 to form SIGA which will represent government’s interest in all entities and their job is to ensure that they perform effectively, efficiently and where applicable profitably”, the Minister observed.

Hon Cudkoe gave this advise when he embarked on a working visit to the National Pensions Regulatory Authority (NPRA) on Wednesday, 12th April, 2023.

The objective of this visit was to dialogue with the management team, drumming home the need for NPRA to operate effectively and efficiently for the nation’s benefit.

The Minister explained that though NPRA was autonomous, it is the duty of the shareholder (SIGA) to set performance target for the board through the Annual Performance Contract to ensure Good Corporate Governance practices and perfomance of the entity.

Joining Hon. Cudjoe on this visit were the Minister’s Policy Advisor, Mr. Sam Aning, and five other officers from the Ministry.

After a thorough assessment, Hon. Cudjoe highlighted the potential for the Authority to bolster its effectiveness and efficiency by leveraging its licensing mandate as a revenue-generating mechanism.

In recognition of the commendable efforts and accomplishments by the NPRA’s management and staff, Hon. Cudjoe applauded their dedication and urged them to develop a well-crafted proposal to adjust the service delivery cost.

This strategic move he noted, would enable the Authority to expand its operations and contribute more significantly to the country’s progress.

The Chief Executive of NPRA obliged the Minister and indicated that he will engage the Board on his advise