State Enterprises Must Be Out of Reach of Presidents- Mussa Dankwa
The Executive Director of Global Info Analytics, Mussa Dankwa has argued that Presidents and Boards of Directors must not have direct control over state enterprises in accordance with corporate governance best practices.
It comes after the Managing Director of SIC Insurance, Hollistar Duah-Yentum, opposed her removal and the appointment of James Agyenim-Boateng by President John Dramani Mahama.
Reports indicate that she locked the key to her office and left with it and has filed a suit against her removal.
Per her writ, Ms. Duah-Yentumi argued about the constitutionality of the termination of her contract which was due to expire in 2028.
“Under and by virtue of the agreement the Plaintiff’s tenure as the Managing Director is for a period of four years, thus expiring on the 1st day of January 2028 or soon thereafter as may be agreed upon by the Board of Directors of the 1st Defendant and the Plaintiff.”
“The Plaintiff therefore states that all terms relating to and regarding the Plaintiff’s employment as the Managing Director of the publicly listed company such as the 1st Defendant is governed solely by the employment agreement executed by the parties,” the suit added in part.
The management of state enterprises is one of the areas Mussa is hoping to see change as President John Dramani Mahama buckles for a review of the 1992 Constitution of Ghana.
According to him, Presidents and Boards must be stripped of the power to interfere in the operations of state enterprises.
In a Facebook post, he called for caution in handling listed state corporations in which the state holds a majority stake.
He recognizes that the case with Ms Duah-Yentumi exposes some of the errors in the constitution that need to be changed.
“Now that we are going to review it, we must take state enterprises out of the reach of the president and firmly into the hands of the boards and in accordance with established corporate governance principles.”
Source: opemsuo.com/Hajara Fuseini
