The purpose of this piece is to demonstrate that SIGA’s policy of encouraging inter-trading among certain specified entities is lawful in principle, commercially rational, and fully consistent with its mandate to safeguard and enhance the value of the State’s ownership interests. Among others, the policy derives its legitimacy from Ghana’s State Ownership Policy. Properly understood, the policy does not amount to unlawful market interference, nor does it displace the internal decision-making authority of boards and management of the affected entities. Rather, it is a strategic ownership-guidance measure designed to strengthen cooperation within the State’s portfolio, retain economic value within the public asset base, promote efficiency, and support the long-term sustainability of enterprises in which the State has a direct interest. At the heart of the matter is the nature of SIGA’s statutory role. SIGA exists to oversee and administer the State’s interests in specified entities...