Audio By Carbonatix
The Institute of Directors Ghana is advocating for the amendment of the Presidential Transitional Act to allow board members and chief executives of key government institutions stay in office after a change of government.
This the Institute believes will result in a good corporate governance practice in the public sector.
President of the Institute, Rockson Dogbegah made the call at the Corporate Governance Conference in Accra under the theme: ‘enhancing and sustaining good corporate governance, the role of stakeholders.’
"We think that in the practice of corporate governance, the current state of the law does not make provision for a succession plan for state enterprises and businesses and there is the need for an amendment. We believe the President is a good corporate governance practitioner with the way he is handling the Economic Management of the country.”
Mr Dogbega added, “The issue of corporate governance is very important and critical because whatever goes on in the public sector has a way into the private sector. Secondly, we want the appointment of Chief Executives to be a sole preserve of the Board of Director's and not by partisan like the way we see it.”
The 2019 Corporate Governance Conference is focusing on issues relating to the management of state and private institutions with a social impact on individuals.
According to the Institute, the section in the Ghana Presidential Transition act which compels all board of governors to dissolve due to the change in government is not a good corporate governance practice.
Speaking on behalf of President Akufo Addo, Minister for Business Development, Mohammed Awal emphasized the need for Small Medium Enterprises to adhere to corporate governance rules in order to sustain their businesses.
“Let me say this very important issue at this conference, the nature of SMEs we run in Africa is such that they're on family bases and doesn't take the issue of corporate governance serious. Please, I will urge members of the Institute here to practice the corporate governance rules to the latter and ensure that our SMEs practice same in order to be sustainable and be able to create more jobs.”
“His Excellency the President is keen in creating the enabling environment for businesses to thrive through the introduction of many business initiatives and regulatory reforms. The government is committed to corporate governance and must be supported,” he added.
The conference brought together Director's from across 19 African countries and members of the Institute of Directors Ghana.
Chairman of the National Development Planning Commission, Professor Stephen Adei also made a call for a thorough review of the single spine salary structure in the public sector.
According to him, the current state of the policy is having a negative impact on the country's revenue which can be avoided.
Professor Adei suggested that government must form a bipartisan committee with the inclusion of Labour to review the policy to be purged with productivity.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Asha Bhosle: The sound of Bollywood dies aged 92
20 minutes -
Fire destroys bedroom in Tantra Hill apartment
22 minutes -
Safe city: Unnoticeable protection
29 minutes -
North East Regional Police Commander raises alarm over burning of checkpoints
38 minutes -
Free Primary Healthcare Programme set for take-off — Health Ministry confirms readiness
54 minutes -
3 co-wives, 5 children perish in canoe disaster – Maritime Authority insists life jackets use mandatory for all water transport
2 hours -
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
2 hours -
Gunmen kill at least 11 people at Afghanistan picnic spot
2 hours -
Woman, 25, in court for stealing baby at Bogoso
2 hours -
Trump unveils giant gold-accented victory arch design for US capital
3 hours -
We spoke to the man making viral Lego-style AI videos for Iran. Experts say it’s powerful propaganda
3 hours -
Hungarians vote in big numbers on whether to end Orbán rule and elect rival
3 hours -
At least 30 feared dead in crush at Haitian tourist site
3 hours -
Boxing: Abdul Ahmed wins WBA Africa Cruiserwight title after dispatching Nigeria’s Eradeye
3 hours -
Nearly 2,000 displaced, schools damaged as windstorm wreaks havoc in Gushegu
3 hours