Mahama Sweeps Out BOST, VALCO, CBG, GNPC, other Boards
By Prince Ahenkorah
President John Dramani Mahama has ordered the immediate dissolution of the governing boards of nine state-owned institutions, triggering a fresh shake-up at the top of some of Ghana’s key public enterprises.
The Presidency announced the decision on Wednesday, September 2, 2026, confirming that the affected boards have been dissolved with immediate effect.
The institutions affected 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, the Road Maintenance Trust Fund, TDC Ghana Limited, Ghana National Petroleum Corporation (GNPC), and the National Sports Authority (NSA).
A statement signed by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, communicated the President’s directive.
The Presidency, however, did not provide a specific reason for the latest dissolution, leaving the decision open to scrutiny amid growing attention on the performance and governance of state-owned enterprises.
The latest boardroom shake-up comes at a time when the performance and financial health of state-owned enterprises are attracting renewed public attention.
It follows the recent release of the 2025 report on state-owned enterprises by the State Interests and Governance Authority (SIGA), which has brought renewed focus to the management, performance and accountability of government-owned institutions.
The affected entities operate across strategic sectors of the economy, including petroleum, energy, banking, mining, infrastructure, postal services, housing and sports.
Although the Presidency has not linked the dissolution directly to the SIGA report, the timing of the announcement is likely to fuel discussions about the performance of the affected institutions and the government’s approach to improving their governance.
Following the President’s directive, the relevant sector Ministers have been instructed to take all necessary steps to give effect to the dissolution.
The implementation is expected to be carried out in accordance with the applicable laws and the governing instruments of each institution.
The dissolved boards are expected to remain out of office until new governing boards are constituted.
The Presidency is expected to announce the new appointments in due course as the government moves to establish fresh leadership structures for the affected institutions.
The latest decision adds to a series of board and institutional changes undertaken by President Mahama since assuming office.
Earlier, the President issued a blanket directive dissolving statutory boards, corporations, commissions and councils appointed by the previous administration, in line with the Presidential (Transition) Act, 2012 (Act 845).
Under that directive, persons appointed to boards by former President Nana Addo Dankwa Akufo-Addo or a former Minister of State ceased to hold their positions on January 7, 2025, the day President Mahama was sworn into office.
The Presidency subsequently clarified that the cessation of board membership did not apply to institutions established as independent constitutional bodies.