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By: Edward Sebbie Graham
President John Dramani Mahama has dissolved the Boards of Directors of nine strategic state institutions with immediate effect.
The directive, contained in a statement from the Presidency on Wednesday, September 2, 2026, affects key players in energy, mining, finance, housing and sports.
The affected institutions are:
– Prestea Sankofa Gold Limited
– Bulk Oil Storage and Transportation Company Limited (BOST)
– Volta Aluminium Company Limited (VALCO)
– Consolidated Bank Ghana Limited (CBG)
– Ghana Post Company Limited
– Road Maintenance Trust Fund
– TDC Ghana Limited
– Ghana National Petroleum Corporation (GNPC)
– National Sports Authority (NSA)
According to the Presidency, the decision was communicated in a letter signed by the Secretary to the President, Dr. Callistus Mahama, and announced by Spokesperson Felix Kwakye Ofosu. No reason was given for the mass dissolution.
Sector ministers have been directed to take all necessary steps, in accordance with applicable laws and governing instruments, to give effect to the dissolution and to formally notify members of the affected boards.
The Presidency stressed that management teams will continue to run the day-to-day operations of the affected institutions, but have been barred from taking major policy, financial or contractual decisions without prior authorisation from the appropriate authority.
The boards, including the 15-member NSA board chaired by Dr. Fred Awaah, will be reconstituted in due course, with the President thanking outgoing members for their service.
The major shake-up comes barely 48 hours after the State Interests and Governance Authority, SIGA, had released 2025 report on the state of SOEs in Ghana. The above SOEs are among those considered inefficient and have been incurring losses over the years.
It is believed that the under-performance of these and other dormant SOEs necessitated the president’s action. Are Ghanaians expecting further dissolution of more boards in the coming days? Time will definitely tell.
