The Institute of Directors Ghana IoD is seeking stakeholder involvement in a Directors Charter Bill, aimed at promoting director professionalism in Ghana.
The Bill, according to IoD Chairman, Rockson Dogbegah, when passed, would establish IoD-Gh as the statutory body responsible for setting standards for the practice of corporate governance in Ghana.
“This has become necessary to ensure that the practice of the leadership applies for the benefit of the various institutions they serve,” he noted.
It is to effectively exhaust the processes leading to the passage of the Trustees Charter Bill that the IoD-Gh is currently engaging stakeholders on the Bill.
The President, staff and consultants of IoD-Gh met with representatives of various stakeholder institutions from public and private institutions where details of the draft law were presented for review and input.
Present at the Stakeholder Engagement Workshop, representatives from the Registrar General’s Department, Bank of Ghana, Ministries among other private institutions provided inputs and comments on the Director’s Bill presented by the chairman of the IoD legal status committee, lawyer Enoch Larbi Aboagye.
“We have made a lot of progress in this direction and we hope to pass this bill to the cabinet soon for transmission to parliament,” the IoD chairman told reporters.
Mr. Rockson Dogbegah, believes that this move will further strengthen professional leadership in Ghana.
He referred to some of the breakthroughs the Institute had made in promoting the practice of corporate governance in Ghana, adding that as a member of the ACGN, the Institute had been engaged over the past two decades in training, advocacy and publications focused on national adherence to good business practices. governance.
Many corporate governance failures in the country, he said, are due to lack of regulation and lack of board professionalism.
According to the President of the Institute, the practice of electing family members and friends or political allies without specialist knowledge to the boards of directors of institutions must be a thing of the past.
The Institute also asks the government to refrain from appointing the directors general of public institutions and from appointing the boards of directors at the same time.
The Institute believes that the work of directors in institutions is professional work, without which many institutions fail in corporate governance.
In the institute’s quest to promote the achievement and success of various boards of directors, has instituted an awards program for various categories of directors who distinguish themselves in their various fields of work.
The award is dubbed IoD Ghana Corporate Governance Excellence Awards.
It is scheduled to be held on November 18, 2022 under the theme “Good Corporate Governance and Effective Stakeholder Engagement: Essential Ingredients for Sustainable Growth”.
The awards which were launched during the stakeholder engagement also saw some 42 new Fellows and four Fellows of the Institute inducted into IoD Ghana.