IMF identifies political appointments as major weakness in GPHA, VRA, COCOBOD and other SOEs

The International Monetary Fund has identified the politicisation of board and chief executive appointments as a major weakness in the governance of Ghana's state-owned enterprises, warning that the practice is undermining the independence and professionalism of boards.

In its latest Technical Assistance Report on Ghana's state-owned enterprises in 2024, the IMF says that while Ghana has established a framework intended to make appointments more structured and merit-based, "in practice appointments remain highly political and centralised in the Presidency." The report says boards of major state-owned enterprises are largely dominated by political appointees, with board chairs frequently being ministers, Members of Parliament or prominent party officials.