By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    Gov’t orders mandatory registration of mining machinery by August 1
    July 15, 2025
    Patrick Appiah Mensah appointed Managing Director of Heath Goldfields’ Bogoso Prestea Gold Mine
    July 15, 2025
    Agradaa denied bail as Court orders Registrar to produce records within 14 days
    July 15, 2025
    Suame Magazine spare parts dealers express concern over high port duties
    Suame Magazine spare parts dealers decry non-reduction of port duties
    July 15, 2025
    Bank of Ghana Governor Dr. Johnson Asiama speaking at Graphic Business/Stanbic Breakfast Meeting
    Forex gains require structural reforms, not just policy tweaks – Dr. Johnson Asiama
    July 15, 2025
  • Business
    BusinessShow More
    Bank of Ghana Governor Dr. Johnson Asiama speaking at Graphic Business/Stanbic Breakfast Meeting
    Forex gains require structural reforms, not just policy tweaks – Dr. Johnson Asiama
    July 15, 2025
    Bank of Ghana Governor Dr. Johnson Asiama delivering keynote address at 2025 Stanbic Breakfast Meeting
    Gold, cocoa, oil still expose cedi to global price shocks – BoG Governor
    July 15, 2025
    Dr. Johnson Asiama speaking at the Graphic Business/Stanbic Bank Breakfast Meeting on forex and economic growth
    Strong cedi must translate into jobs and growth – Asiama
    July 15, 2025
    FDA urges MSMEs to prioritise compliance for export and growth
    July 13, 2025
    UK Eases Trade Rules for Africa to Boost Exports and Economic Growth
    July 13, 2025
  • Politics
    PoliticsShow More
    starrfm.com.gh
    Court orders suspended CJ to serve AG with affidavit in opposition, case adjourned to July 23
    July 15, 2025
    President Mahama announces cancellation of fuel allowances for political appointees as cost-cutting measure
    Mahama scraps fuel allowance for government appointees, effective immediately
    July 15, 2025
    Dr. Amoako Baah demands overhaul of NEC after decisive loss
    Ablekuma North rerun: Dr. Amoako Baah demands overhaul of NEC after decisive loss
    July 15, 2025
    Akufo-Addo denies claims of pushing to postpone NPP national delegates conference
    July 15, 2025
    “Africa’s call for reparative justice is no longer a whisper” – Mahama
    July 14, 2025
  • Entertainment
    EntertainmentShow More
    Pine & Jinja campus tour with DJ Millzy, El Chapo hits 100,000 students in first phase
    July 14, 2025
    From Snapchat to real life: How Porials Pitch became Ghana’s most-attended marketplace
    July 14, 2025
    Filmmaker who threatened to kill police officers remanded
    July 14, 2025
    Afro Nation 2025: The global meeting point of love, expression, and African culture
    July 13, 2025
    GTDC CEO slams former leaders over mismanagement and lack of innovation
    July 12, 2025
  • Sports
    SportsShow More
    WAFCON 2024: Black Queens beat Tanzania to reach Quarterfinals
    July 15, 2025
    Esports Association Ghana receives invitation to Esports World Cup 2025
    July 14, 2025
    Global Citizen, FIFA unite global audiences through Music and Action with Inaugural FIFA Club World Cup™ Final Halftime Show
    July 14, 2025
    Tottenham secure Mohammed Kudus in high-profile transfer deal
    July 10, 2025
    Ghana, Nigeria share spoils in thrilling opener of 2025 WAFU U20 Boys Cup
    July 10, 2025
  • Technology
    TechnologyShow More
    Samsung Galaxy Z Flip7: A pocket-sized AI powerhouse with a new edge-to-edge flexwindow
    July 10, 2025
    Real Quantum Dot Technology in Samsung QLED TVs
    June 29, 2025
    GCAA and South Korea sign deal to advance Ghana’s Drone sector
    June 25, 2025
    Onafriq, PAPSS partner to launch cross-border payment services in Ghana 
    June 20, 2025
    Yellow Card, Visa partner to accelerate stablecoin adoption across emerging economies
    June 19, 2025
  • International
    InternationalShow More
    Presidency terminates Zoomlion’s contract over concerns of impropriety and inflated billing
    Mahama pushes AU–CARICOM partnership to strengthen global reparations push
    July 14, 2025
    47th AU Forum: Ablakwa criticizes $1.2m AfCFTA allocation as ‘highly insufficient’
    July 10, 2025
    Minority demands audit over $1.2m passport relaunch cost and delays
    July 9, 2025
    Minority demands compensation for citizens stranded by US embassy closure
    July 9, 2025
    Foreign Minister Okudzeto Ablakwa and Chinese Ambassador Tong Defa sign $30 million grant agreement for Aflao market
    Ghana secures $30 million Chinese grant for Aflao market project
    July 9, 2025
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: Presidents must stop appointing heads of SOEs – Manteaw
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
GeneralHeadlines

Presidents must stop appointing heads of SOEs – Manteaw

Starrfm.com.gh By Starrfm.com.gh Published May 15, 2019
Share
Dr. Steve Manteaw
SHARE

Chairman of the Public Interest and Accountability Committee (PIAC) Dr Steve Manteaw has called for an immediate end to the phenomenon where the president appoints head and board members of state-owned companies.

The call comes after the auditor general indicted the board of the Ghana Cylinder Manufacturing Company (GCMC) for astronomically and illegally increasing the monthly fees and sitting allowances for the chair and members between 2016 and 2017.

According to an audit into the operations of the company intercepted by Starr News, monthly fees have seen some 400% increment since the new board took over.

The allowance for the board chair which stood at GH¢650 jumped to GH¢3000 while that of members which was GH¢500 ballooned to GH¢2000.

Commenting on the development on Morning Starr Wednesday, Dr Manteaw who is also a policy analyst with the Integrated Social Development Centre (ISODEC) said for the only way to prevent such developments is for the president to stop appointing heads of state-owned enterprises.

He told Morning Starr Host Francis Abban: “We seem as a country not to appreciate good corporate governance principles and so you have a situation where a chief executive officer is appointed by the president, a board chair and the board members also appointed by the president which makes it more like both the CEO and the board reporting to the same appointing authority.

“We need to move away from the situation where the president appoints CEOs at the same time appointing the board. In fact, it is even getting worse now because there have been reported instances where the president has appointment even public relations officers. I think we need to allow corporate governance to operate.”

On his part, corporate governance expert Harry Michael Yamson said the entire management of the GCMC must be changed. Speaking on the Morning Starr, Mr Yamson said the evidence of rot as captured in the auditor general’s report shows a complete failure by the management of the company. He added the company needs a new team that is competent.

“It needs a good team, a more competent team. And better oversight. There is something fundamentally wrong with the oversight of the business because something went very wrong with the business.  There is a massive failure in the business, failure in the board, failure in the management team, a new team may be required to steer affairs there,” he stated.

Source: Ghana/Starrfm.com.gh/103.5FM

You Might Also Like

Gov’t orders mandatory registration of mining machinery by August 1

Patrick Appiah Mensah appointed Managing Director of Heath Goldfields’ Bogoso Prestea Gold Mine

Agradaa denied bail as Court orders Registrar to produce records within 14 days

Suame Magazine spare parts dealers decry non-reduction of port duties

Forex gains require structural reforms, not just policy tweaks – Dr. Johnson Asiama

TAGGED:Ghana Cylinder Manufacturing CompanyPIACSteve Manteaw
Share This Article
Facebook Twitter Email Print
Share
Previous Article Inflation rises from 9.3% to 9.5% in April
Next Article First lady commissions new Rebecca Akufo-Addo PICU at Korle Bu

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?