CalBank Plc, a leading indigenous bank in the country, has organised a day’s seminar for its stakeholders on good corporate governance.
The seminar organised in collaboration with UK-Ghana Chamber of Commerce (UKGCC) in Accra on Tuesday was to build the understanding of business owners on how good corporate governance can promote business growth.
It also sought to brief the participants on the current status of good corporate governance reforms being implemented in public institutions and provides an open platform for participants to share feedback and their expectations of the government.
The seminar seeks to consider ways to mitigate risk in organisations to ensure sustainability, accountability, efficiency, and profitability.
Opening the seminar, the Managing Director of CalBank, Phillip Owiredu, said good corporate governance was key to growth and sustainability of businesses.
“Good corporate governance in it totality is the core and strategies of how institutions or businesses are managed to withstand the test of time through the actions and in actions of managers and staff of that institution,” he said.
Mr Owiredu stressed that institutions and businesses that prioritised good corporate governance as its topmost agenda was likely to “achieve better growth and sustainability.”
The CalBank MD said the current business dynamics demanded big corporate and family business to employ good corporate governance strategies to ensure sustainability of their organisations.
Ms Barbara Banson, the Chief Risk Officer, CalBank who spoke on compliance and risk in corporate governance, urged board members of institutions to ensure that compliance laws were enforced to the latter if businesses and organisations were to meet their mission and vision targets.
She said compliance was the key requirement every institution must be keen on when selecting board members to manage a businesses or organisation.
”Every institution must ensure that its board members have a strong commitment towards enforcement of all compliance laws before they are selected to run the businesses and organisations and their performance must also be accessed periodically,” she said.
Ms Adjoba Kyiamah, the Executive Director of UKGCC, indicated that the goal of her outfit was to create the neccessary environment for smaller institutions and organisations to grow and be sustainable in their operations.
She said businesses must institute good corporate governance and compliance structures to ensure the growth of their organisations.
Other speakers including Catherine Engmann, Felix Ntrakwah and Reggie Mark-Hansen spoke on topics like board composition, influence, and independence, efficiency of processes under corporate governance and sustainability.
BY VICTOR A. BUXTON
