Officials from the State Interests and Governance Authority (SIGA) recently met with GRIDCo Management staff to review the Company’s 2025 Corporate Performance. It was their second of such engagement for the year.

Mr. Samuel Kow Acquah, Director, Corporate Strategy, welcomed the four-member delegation on behalf of the Chief Executive, who together with the two Deputy Chief Executives were in a meeting with the Minister of Energy & Green Transition.

He noted, “While GRIDCo performed creditably in 2025, we acknowledge that the year came with its share of challenges and areas for improvement. We welcome your objective feedback as a valuable opportunity to learn, improve and sharpen our execution. We will not rest on our achievements but will address the gaps with urgency and discipline to deliver a stronger and more resilient performance in 2026.”

He added that GRIDCo has been deliberate in identifying and pursuing alternative sources of revenue to strengthen the Company’s financial resilience. He noted with satisfaction that there were no budget overruns, owing to the ongoing cost-containment programme. “We have also signed a framework agreement to guarantee the supply of critical spares, materials and services over the medium term,” he said.

Head of the SIGA delegation, Mr. James Korsah-Brown, Head of Financial Advisory, was optimistic of a fruitful meeting. “The team is currently preparing the State Ownership Report so, we need a lot of valuable contributions from GRIDCo, to draft an impressive Report for the Director General, and ultimately, the President.

The discussions covered “GRIDCo’s attainment of Financial Year (FY) 2025 objectives”; “the impact of constraints identified in the 2025 Performance Contract on GRIDCo’s strategy and objectives”; “Update on GRIDCo’s 2025 procurement plan, versus actual procurements; “Were there any changes in GRIDCo’s Organogram, and did they impact performance?”; “Portfolio Management (Investments, mergers/acquisitions, disposals, request for Government support, etc.)”; “Quantitative Assessment of GRIDCo’s 2025 Performance Contract Indicators and Targets”; “Financial, Economic & Efficiency and Productivity”; “Governance” and “Projects Undertaken”.

Mr. Pius Avio, Director, Finance, noted that GRIDCo’s performance during the year under review was affected by tariff reductions and persistent cash flow constraints arising from underpayments by other State-Owned Enterprises. He explained that although energy transmitted in 2025 exceeded the 2024 level, the reduction in tariff limited the Company’s revenue growth. “The volumes improved, but the reduced tariff meant that the increase in energy transmitted did not fully translate into stronger revenue performance,” he said.

Mr. Acquah again noted that since the last report was submitted, GRIDCo has taken pragmatic steps to improve on certain indices, especially those flagged by SIGA. “Some industry best practices and strategies have been adopted since, he remarked.”

Significantly, Mr. Korsah-Brown noted with satisfaction that, GRIDCo continues to demonstrate a high level of compliance with its performance indicators. He, therefore, commended the Board and Management for timely submissions reports, highlighting the quality of the report. He also applauded staff for the selflessness and speedy restoration of the fire-gutted Control Room at the Akosombo. Additionally, Mr. Korsah-Brown shared SIGA’s satisfaction with the many efforts GRIDCo has made to construct turnkey projects, with Government’s assistance and that of donor agencies. On behalf of the team, he expressed interest in visiting selected key project sites in due course.

Other members of the delegation were; Mr. Charles Amoako-Atta,; Mr Isaac Cudjoe; Ms. Beatrice Effia Hagan and Mr. Collins Asuming

Subject matter experts from GRIDCo, present to support Mr. Acquah, were; Mrs. Monica Senanu, Director, Legal; Mr. Richard Ntim, Director, Internal Audit; Director, Finance; Mrs. Ama, Company Secretary; Joseph Dakura Zumasigee, Director, Office of the CE Organisational Development; Mr. Abentara, Acting Manager, Strategy and

Mr. Ebenezer Asare Ansah, Performance Management team, Miss Emily Wilson-Sowah, Board Secretariat and Miss Joana Ohui Tetteh, Corporate Communications Section.

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The State Interests and Governance Authority (SIGA) is the central oversight body established by the Government of Ghana in 2019 to streamline the governance and performance of Specified Entities (SEs), including State-Owned Enterprises (SOEs), Joint Venture Companies (JVCs), and Other State Entities (OSEs).

SIGA was created to address long-standing challenges associated with fragmented oversight by providing a unified, accountable, and transparent framework. This framework ensures fiscal discipline, policy harmonization, effective monitoring and evaluation, and improved information management across SEs. In line with global best practices, SIGA also ensures a clear separation between the shareholder (the State) and policy/regulatory bodies, thereby promoting fair competition and eliminating undue advantages for SOEs.

https://siga.gov.gh/about/