IPNEWS: A delegation from the State Owned-Enterprises Authority of Liberia (SEAL), on a study tour to Accra, Ghana, has proposed the establishment of a West African Peer Review Forum for State-Owned Enterprises (SOEs) to promote regional cooperation, accountability, and best practices in SOE governance.
The proposal was made during the delegation’s first engagement meeting with the Management of Ghana’s State Interests and Governance Authority (SIGA) at a welcoming ceremony held on Monday, July 6, 2026.
Welcoming the Liberian delegation, the Director-General of SIGA, Professor Michael Kpessa-Whyte, expressed his Management Team’s willingness to cooperate and collaborate with the State Owned-Enterprises Authority of Liberia. He recounted his entity’s long progress of reform amidst challenges and revealed that SIGA is in full compliance with its statutory mandate and responsibilities to ensure that the State receives fair shares of its investment and dividends. SIGA, established by the SIGA Act, 2019 (Act 990), serves as the central oversight body responsible for ensuring that Ghana’s State-Owned Enterprises and other specified entities operate efficiently, profitably, and in a manner that enhances national value.
Delivering special remarks on behalf of the State Owned-Enterprises Authority of Liberia, Director-General Theodore Momo, Jr. expressed profound gratitude to the Management of SIGA for the warm welcome, hospitality, and assurance of its desire to collaborate with SEAL for the study tour. He praised His Excellency President Joseph Nyuma Boakai, Sr., for approving the study tour and for his visionary reform agenda for the SOE Sector.
DG Momo noted that SEAL is currently transitioning from the former Bureau of State Enterprises to strengthen its legal mandate as the primary regulatory body overseeing Liberia’s state-owned enterprises—a historic shift in Liberia’s economic governance signaling a new era of accountability and oversight.
In a landmark proposal, Director-General Momo called for the formal establishment of a West African Peer Review Forum for State-Owned Enterprises—a platform where SOE oversight authorities across the sub-region can meet annually to network, share experiences, and deepen collaboration.
The proposed forum would focus on the following critical objectives:
Networking and Experience Sharing: Fostering a community of practice where oversight authorities share best practices and lessons learned in managing state assets across West Africa.
Digital Transformation: Collectively advancing the agenda for modernizing SOE operations through innovative technology and digital solutions.
Service Delivery and Compliance: Benchmarking standards to ensure optimal public value delivery while adhering strictly to regulatory frameworks.
Rigorous Debt Scrutiny: Conducting thorough and disciplined reviews of SOE debt portfolios to ensure fiscal sustainability and prudent financial management.
State’s Dividend: Guaranteeing that the State receives fair returns on investments, thereby maximizing the contribution of SOEs to national treasuries.
DG Momo emphasized that such a forum would serve as a crucial step toward deepening regional cooperation and ensuring that SOE oversight institutions remain accountable, efficient, and aligned with the developmental aspirations of West African nations.
The study tour marks a significant milestone in Liberia-Ghana bilateral cooperation in the area of public sector governance and SOE oversight. Both SIGA and SEAL expressed commitment to exploring further areas of collaboration, including technical exchanges, capacity building, and the development of shared frameworks for SOE performance management.
The Liberian delegation is expected to continue its study tour engagements with various departments of SIGA to gain deeper insights into Ghana’s SOE oversight model, performance contracting systems, and dividend collection mechanisms.
In photograph, are DG Momo of SEAL and DG Professor Michael Kpessa-Whyte of SIGA-Ghana alongside their deputies.
