The Institute of Directors Ghana has expressed worry about the culture in which some board members who have their institutions at heart are marginalized by Board Chairs and their cohorts to the detriment of the institution. 

This practice it believes triggered the collapsed of majority of the defunct banks and other institutions.

Consultant and Founding Member of the institute, Emmanuel Yao Klinogo therefore called for a change in culture to ensure boards of institutions live up to expectation collectively.

Speaking at a recent webinar organized by the UPSA Law School on Corporate Governance, Mr. Klinogo said the culture is killing many budding businesses.

“Unfortunately, what has been happening is that the good guys get circled out and thrown out. And normally what you have is that you have a board within a board so certain decisions are taken by certain groups of people in the board room.”

“Other members of the board do not hear about it. Then when the embarrassment comes, they try to allocate it to every member of the board”, he also pointed out.

 He explained that many indigenous entities will not witness growth until such culture ceases.

“So, please I think that it is a cultural thing.  Something we are not teaching in the schools, not teaching in the management institutions. We are not teaching people who are standing up to become counted when it comes to the issue of honesty.

Poor Corporate governance issue was one of the major concerns that triggered the collapse of banks, savings and loans and fund management firms.



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