GNPC Adjudged ‘Most Compliant State-Owned Enterprise’ In Ghana

The Ghana National Petroleum Corporation (GNPC) is the ‘Most Compliant State-Owned Enterprise’ in Ghana. That is according to the Ministry of Public Enterprises.

On Wednesday, October 11, 2023, the Ministry in conjunction with the Ministry of Finance and the State Interests and Governance Authority (SIGA), honoured the national oil company at the Public Enterprises League Table (PELT) Awards held in Accra.

According to the organisers, GNPC’s unwavering commitment to upholding the highest standards of regulatory compliance and ethical business practices was commendable and deserving of being adjudged “Most Compliant State-Owned Enterprise (SOE).”

This accolade, as well as the Corporation’s overall ranking as the third Best Performing Entity on the PELT, was the outcome of an independent assessment conducted by the multinational Accounting and Auditing firm, PricewaterhouseCoopers (PwC).

The award ceremony was aimed at engendering positive competition amongst State Owned Enterprises (SOEs), Joint Venture Companies (JVCs) and State Entities. It was attended by various industry leaders, and government officials among other distinguished guests.

A citation accompanying the award stated that the Corporation recorded “the highest achievement in compliance to statutory reporting per the laws governing Specified Entities in Ghana”.

It underscores GNPC’s outstanding achievement in maintaining compliance with a myriad of legal and regulatory frameworks. The Corporation’s dedication to transparency, accountability, and responsible governance has, by this feat, set a commendable benchmark within Ghana’s corporate sector.

GNPC CEO, Opoku-Ahweneeh Danquah, expressed immense gratitude for the recognition. He said it showcased the Corporation’s dedication to ensuring a sustainable and responsible business environment.

“This achievement is a testament to the hard work of our staff whose efforts have now positioned GNPC as a trailblazer in the realm of corporate compliance, setting an inspiring example for other state-owned enterprises and businesses across the nation,” he remarked.

GNPC’s exemplary compliance culture has not only earned the corporation accolades within the business community but has also instilled trust and confidence among stakeholders and partners.

The Corporation was represented at the ceremony by Mr. Albert Akowuah, Manager of corporate Strategy and Mr. Albert Longdon Nyewan, Deputy Manager, Compliance at GNPC.