Accra, Nov. 15, GNA – Mr Rockson Dogbegah, President, Institute of Directors-Ghana (IoD-Gh), has presented the draft National Corporate Governance Code to Mr Charles Abani, the United Nations (UN) Resident Coordinator.
The presentation was to solicit the support of the Coordinator towards promoting good corporate governance culture in Ghana.
The code is to help enhance the capacity of indigenous companies in the supply chain in Ghana and Africa to be able to compete favourably with foreign companies sustainably.
Mr Dogbegah, also the Chair of the African Corporate Governance Network (ACGN), in a release, said the Institute was promoting the culture through professional director training, consultancy, board performance evaluation, advocacy and policy development.
He said there was a possibility of launching the code on 13th December, 2022, and the celebration of the fifth IoD-Gh Excellence Awards.
Mr Abani expressed concern about the availability of funding opportunities, which indigenous companies could not access due to stringent conditions attached that they could not meet.
He said the UN was focused on determining how to structurally and systematically support indigenous businesses through partnerships, to build an ecosystem that would strengthen and enable local businesses to thrive, grow, expand and take advantage of opportunities in the ecosystem.
The UN Resident Coordinator underscored the need for stakeholders to create the appropriate environment for Africans to take advantage of the African Continental Free Trade Area (AfCFTA).
The UN Resident Coordinator applauded the Institute for efforts in promoting good corporate governance and for developing the national corporate governance code.
He pledged his full support to working with IoD-Gh closely to identify available opportunities to support the advocacy campaign.
Mr Dogbegah made a similar call on the Spanish Embassador Javier Gutierrez and presented the draft code to him and invited him to the lauch of code.
The Ambassador said the Spanish Chamber of Commerce was ready to do business with the Institute of Directors-Ghana and Ghanaian entrepreneurs.
He also commended the IoD-Gh for the foresight.
The national corporate governance code, developed by the Institute is to harmonise all existing sectorial codes and to provide for sectors, which have none.
The national code consists of three core national values (patriotism, accountability and responsibility), five pillars (purpose, leadership, controls, disclosures and engagement), thirteen fundamental principles and seventy-nine individual provisions.
It is expected that the code will provide a good foundation for a national orientation towards ethical and effective leadership to propel organisations to perform well.
The ACGN is a collaborative network of director membership organisations that was formed in 2013 to promote effective corporate governance on the African continent.
The Network currently has 19 member countries and nine affiliate members representing over 20,500 senior executives and directors across the continent.
GNA