An Asssessment of the Impact of Corporate Governance on Revenue Collection in State-Owned Utility Companies in Sierra Leonne

Abstract

This thesis examines how three corporate governance mechanisms—board independence, financial transparency and disclosure, and internal controls—affect revenue collection in four Sierra Leonean state-owned utility companies (SALWACO, GVWC, EDSA, and EGTC). Through qualitative case study design with 12 senior manager interviews and document analysis, the research reveals that internal controls has the most direct impact on revenue collection, while political interference severely constrains board independence and enforcement power at three of the four companies. The study finds that financial transparency operates on two levels—formal reporting to authorities and operational public disclosure—with the latter directly influencing customer payment behavior through social accountability. A key original finding is that customer payment experience itself functions as a governance factor, with accessible payment systems improving compliance rates. The thesis concludes that all three governance mechanisms are interdependent and must be reformed simultaneously to effectively improve revenue collection, and identifies actionable recommendations including merit-based board selection, full digitalization of billing systems, and whistleblower protection frameworks.