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The Director-General of the State Interests and Governance Authority (SIGA), Michael Kpessa-Whyte, has cautioned Chief Executive Officers of loss-making State-Owned Enterprises (SOEs) to immediately stop paying end-of-year bonuses.
Speaking at the 2026 SIGA Stakeholders’ Conference in Accra, he described the practice as a violation of financial directives governing public institutions.
According to him, it is unacceptable for SOEs that record losses to reward themselves with bonuses, stressing that such actions contradict sound financial management principles.
Prof. Kpessa-Whyte explained that SIGA closely monitors the financial performance of SOEs, including their revenue and expenditure, making it easy to detect irregularities.
He emphasised that any organisation that fails to declare profits but still pays bonuses is clearly disregarding established rules.
The SIGA boss further noted that bonuses should not be treated as automatic entitlements but must be strictly tied to performance.
He added that only institutions that meet or exceed agreed performance targets under their contracts are permitted to pay bonuses, while those that fall short are not entitled to such benefits.
While clarifying that SIGA is not against bonus payments, he stressed that they must be justified by strong financial results.
He warned that stricter enforcement measures will be applied to ensure compliance and to protect public funds.
