IOD-GH Engages Stakeholders On Director’s Draft Bill

The Institute of Directors Ghana IoD is soliciting stakeholders impute into a Directors’ Charter Bill, aimed at promoting directorship professionalism in Ghana.

The draft bill according to the IoD’s President Rockson Dogbegah when passed, would establish the IoD-Gh as a statutory body to set standards for the practice of corporate governance in Ghana.

“This has become necessary to ensure that the practice of directorship inure to the benefit of the various institutions they serve” he noted.

It is to effectively exhaust processes leading to the passage of the Directors’ Charter Bill that the IoD-Gh is currently engaging stakeholder on the draft bill.

The President, staff and consultants of the IoD-Gh engaged with representatives from various Stakeholder institutions from both public and private institutions where details of the draft bill were presented for consideration and inputs.

Present at the stakeholders engagement workshop includes representatives from the Registrar General Department, Bank of Ghana, Ministries amongst other private institutions who made inputs and comments on the Director’s draft bill presented by IoD’s Legal Status committee Chairman, Lawyer Enoch Larbi Aboagye.

“We have come far in this direction and we hope to pass this bill on to cabinet soon to be forwarded to Parliament” the IoD president told newsmen.

Mr Rockson Dogbegah, believe this move will further strengthen professional directorship in Ghana.

He touched on some inroads the Institute had made in promoting the practice of Corporate governance in Ghana, adding that as a member of the ACGN, the Institute had over the past two decades engaged in training, advocacy and publications geared towards national adherence to good corporate governance.

Many failed corporate governance in the country he said is as a result of lack of regulation and professionalism by Board of Directors.

According to the President of the Institute, the practice of electing family and friends or political allies without expert knowledge on boards of institutions must be a thing of the past.
The Institute is also calling on government to desist from appointments of Chief Executives of state institutions and same time appointing Board of Directors.

The Institute believes the job of Directors in institutions is a professional one, without which many institutions are failing in corporate governance.

In the quest by the institute to promote achievement and success by various Board of Directors, has instituted an award scheme for various categories of directors who distinguish themselves in their various field of work.

The awards is dubbed IoD Ghana Corporate Governance Excellence Awards.

It is expected to be held on the 18th November 2022 under the theme ‘good corporate governance and effective stakeholder engagement: critical ingredients for sustainable growth.

The awards which was launched at the stakeholders engagement also saw some 42 new members and four fellows of the Institute inducted into the IoD Ghana

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