The Director's Charter Bill, which seeks to further directorship professionally in Ghana, is being discussed by the Institute of Directors Ghana (IoD) and others.
When the draught bill is enacted, the IoD-Gh will be established as a statutory organisation to define standards for the practise of corporate governance in Ghana, according to IoD President Rockson Dogbegah.
In order to make sure that the practise of directorship benefits the many institutions they serve, he remarked, "this has become important."
The IoD-Gh is now consulting stakeholders on the draught law to efficiently exhaust steps leading to the Directors' Charter Bill's passage. The specifics of the draught law were provided for study and feedback to representatives from various stakeholder institutions, including public and commercial organisations, by the president, staff, and consultants of the IoD-Gh.
Representatives from the Registrar General Department, Bank of Ghana, Parliament, Ministries, and other private institutions were present at the stakeholder engagement workshop and provided input and comments on the Director's draught bill that was presented by Lawyer Enoch Larbi Aboagye, the chairman of the IoD's Legal Status committee.
The IoD president told reporters, "We have come a long way in this direction and we expect to move this measure on to cabinet shortly to be presented to Parliament."
He discussed some of the progress the Institute had made in advancing the use of corporate governance in Ghana, and he added that the Institute, as a member of the ACGN, had spent the previous 20 years engaging in advocacy, training, and publications aimed at promoting national adherence to good corporate governance.
He claimed that the absence of oversight and professionalism by the Board of Directors is the cause of many unsuccessful corporate governance initiatives across the nation.
The practise of choosing family, friends, or political allies without professional experience to boards of institutions must cease, according to the Institute's president.
The Institute also requested that the government refrain from selecting boards of directors and chief executives of public entities at the same time. The Institute thinks that without the professional role of directors, many organisations would struggle with corporate governance.
Awards for Corporate Governance Excellence
Also started was the 5th IoD-Gh Corporate Governance Excellence Awards.
This is one of the institute's endeavours to support the accomplishments and successes of the diverse Board of Directors who stand out in their own fields of endeavour.
On November 18, 2022, the award ceremony will be place with the topic "Good corporate governance and effective stakeholder engagement: Critical Ingredients for Sustainable Growth."
Fresh Members
On this occasion, 42 Members and four fellows were inducted into the Institute's membership.
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