No room for excessive salaries in State-Owned Enterprises – Finance Minister warns CBG board

Finance Minister Dr Cassiel Ato Forson has issued a stern warning to the newly inaugurated board of Consolidated Bank Ghana Limited (CBG), stressing that the era of excessive board allowances and inflated salaries in State-Owned Enterprises (SOEs) is over.

Speaking at the swearing-in ceremony on Wednesday, Dr Forson declared: “I made it clear that the era of excessive salaries and bloated board allowances in State-Owned Enterprises will not be entertained under our administration.”

He called on the board to exhibit financial discipline and lead by example.

Still on inaugurations, I extend my warm congratulations to the newly sworn-in Board of Directors of Consolidated Bank Ghana Limited (CBG).

At the ceremony, I reminded the board that government spent close to GH₵30 billion to purportedly safeguard the sector, and CBG stands as… pic.twitter.com/tbZglbPDmJ

— Cassiel Ato Forson (PhD) (@Cassielforson) July 9, 2025

The Finance Minister’s warning comes amid growing public scrutiny over compensation packages in SOEs, many of which have received significant government support.

He urged the CBG board to prioritise accountability, performance, and value for money in all their operations.

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