President John Dramani Mahama has dissolved the Boards of Directors of nine state-owned institutions with immediate effect.
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) and the National Sports Authority.
The Presidency announced the decision in a statement issued on Wednesday, September 2, 2026, and signed by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications.
According to the statement, the relevant sector ministers have been directed to take the necessary steps to implement the dissolution in accordance with the laws and governing instruments of the respective institutions.
The dissolution means the current Boards will no longer perform their board-level functions, paving the way for the appointment of new governing bodies.
The Presidency, however, did not announce the names of individuals who will constitute the new Boards, indicating that they would be reconstituted in due course.
The nine institutions whose Boards have been dissolved 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
The affected institutions operate across several strategic sectors, including petroleum, mining, banking, infrastructure, housing, postal services and sports.
The Presidency has not disclosed whether the decision is linked to specific performance concerns or forms part of a broader restructuring of state-owned institutions.
The timing for the appointment of the new Boards has also not been specified.
The incoming Boards will be expected to provide strategic oversight and ensure that the respective institutions operate in line with their mandates, governing laws and national priorities.
By 1960news.com
