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GNPC adjudged “Most Compliant State-Owned Enterprise” in Ghana

A citation accompanying the award said that GNPC had recorded “the highest achievement in compliance to statutory reporting per the laws governing specified entities in Ghana”

Ghana National Petroleum Corporation (GNPC) is the ”Most Compliant State-Owned Enterprise” in Ghana. This is according to the Ministry of Public Enterprises.

On Wednesday 11 October 2023, the Ministry of Public Enterprises, in conjunction with the Ministry of Finance and the State Interests and Governance Authority (SIGA), honoured the Ghana 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 the “Most Compliant State-Owned Enterprise” (SOE).

This accolade, as well as the corporation’s overall ranking as the third best performing entity in 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 among state-owned enterprises (SOEs), joint venture companies (JVCs) and state entities. It was attended by industry leaders, government officials and other distinguished guests.

A citation accompanying the award stated that GNPC had recorded “the highest achievement in compliance to statutory reporting per the laws governing specified entities in Ghana”.

The honour underscores GNPC’s outstanding achievement in maintaining compliance with a myriad of legal and regulatory frameworks. With this feat, the corporation has set a commendable benchmark in Ghana’s corporate sector for dedication to transparency, accountability and responsible governance.

The chief executive officer of GNPC, Opoku Ahweneeh Danquah, expressed immense gratitude for the recognition. He said it showcases 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 said.

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

GNPC was represented at the ceremony by Albert Akowuah, manager in charge of corporate strategy at the corporation, and Albert Longdon Nyewan, deputy manager in charge of compliance.

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