Expert Proposes Code For Corporate Governance

Osei Gyisi with a copy of his book

JUSTICE AWUKU-Sao, a corporate governance
expert, has called for the creation of a national code to guide the operations
of corporate executives.

Mr. Awuku-Sao, who is currently the Vice
President of the Chartered Institute of Supply Chain Management, said a
national code would improve on Ghana’s corporate governance standards.

Ghana ranked 12out of 15 African
countries in a KPMG and ACCA study on corporate governance requirements across
global markets.

The study focused on 81 key elements of the Organization
for Economic Co-operation and Development (OECD) Principles and leading
corporate governance practices.

Mr. Awuku-Sao, who spoke with the media on the
sidelines of the launch of his book, “Corporate Governance for Banks &
Specialized Deposit-Taking Institution,” in Accra, said the country could do
better provided there was a code of conduct for corporate executives.

He said his book sought to address the
challenges of poor corporate governance within the banking sector by analyzing
the financial sector and giving suggestions to board of directors.

It also discusses the principles and practice
of corporate governance using various case studies. Furthermore, it highlights
women on the board and also shares international best practices.

Head of Banking Supervision at the Bank of
Ghana (BoG), Osei Gyisi, in a speech, said corporate governance was about
following the procedures, system and processes in work performed.

He noted that any attempt to deviate from
simple procedures could lead to serious challenges, adding that managers of the
economy must do so in a transparent and accountable manner.

He said for instance, the BoG was working
towards making the training of directors compulsory.

“They must acquire certificate and directions
from institution accredited by the BoG,” he said.

Present at the launch was Micheal Mensah Baah, Chief Operating Officer of Barclays Bank, Benjamin Kwabla Amenumey, Chief Executive Officer of UMB Bank, and other banking executives.

By Jamila Akweley Okertchiri