Institute of Directors new leadership outlines transformational agenda

Accra- As part of its vision of becoming the leading reference point for competent directorship and best practices in corporate governance, new leaders of the Institute of Directors, Ghana (IoD-GH) has outlined a number of projects.

A statement signed by Mr Rockson Dogbegah, the President of the IoD-GH and copied to the Ghana News Agency said the Institute was ready to support the country’s new bank thus, Consolidated Bank Limited – and other institutions to enhance their corporate governance culture to promote sound growth.

Mr Dogbegah noted the Institute was committed to reposition the Institute as a more vibrant, responsible and effective corporate governance professional body which is responding to the needs of its members and the society, in a sustainable and efficient manner.

He said the Institute sought to achieve the above through advocacy for the mandatory training of directors of both public and private sector institutions in corporate governance.

Mr Dogbegah said the new leaders would create the Ghana Corporate Governance Forum, a public private dialogue (PPD) platform to encourage interactions that would lead to the strengthening of corporate governance practices as well as promote accountability and compliance to laws and regulations of the state.

The new leadership would also advocate for Board positions on corporate Boards for qualified and competent members of the Institute, he said, adding that, work would commence on making IoD-GH accessible in all the regions of the country by establishing regional chapters.

There would also be the development of a corporate governance index to measure the strength of corporate governance practices in Ghana periodically for purposes of corporate governance monitoring and necessary interventions, he added.

Mr Dogbegah said the Institute would soon implement the IoD-GH award scheme to promote and encourage good corporate governance across the various business sectors adding that, the Institute would lead a process to incorporate corporate governance studies in Ghanaian educational curricula at various levels of education.

He noted that Institute would enhance business development through continuous training and development of Directors of corporations both public and private.

He called on corporate bodies, public institutions, individuals and corporate Ghana to support the Institute’s transformational agenda, saying that the Institute shall draw heavily on its Code of Ethics Clause 1.2 Sub Section 11.

The Clause 1.2 Sub Section 11 of the Code of Ethics states: the awareness and acceptance of the fact that in today’s competitive world, there is the need to be proactive, be a critical thinker, problem solver, and have some good communication skills as well as good sense of judgement in order to succeed.

The statement said IoD-GH supports the efforts made by the Bank of Ghana to sanitise the banking sector in view of the current state of the five banks � Unibank, Beige Bank, Sovereign Bank, Royal Bank, and the Construction Bank.

It further said We encourage depositors and shareholders of the affected banks to stay calm as the Bank of Ghana put measures in place to secure their investments.

We also call on all other sectors of the economy to review and enhance their corporate governance and leadership culture, the statement added.

Source: Ghana News Agency