The regional charters would fast track efforts at rebranding Ghana as a nation of choice for investors.
Mr Rockson Dogbegah, President of the Institute speaking at a forum on good corporate governance by the Institute in Ho, said corporate governance had become an important component of development, noting that “we cannot survive as a country if we do not strengthen the business of promoting good corporate governance culture.”
He said the multiplicity of issues arising in the various sectors of the economy were as a result of the “lack of appreciation of good corporate governance”.
“If we want Ghana to grow and succeed, if we want our businesses to grow and succeed, if we want to succeed as a country, then we must accept the principles of good corporate governance”, Mr Dogbegah stated.
He said the Institute in its quest to promote sound corporate governance, was engaging Parliament to ensure that directors appointed to public boards had training on corporate governance.
The forum in Ho was the first of the nationwide engagements, and was attended by heads of over 100 corporate organisations, security agencies, religious, and educational institutions among others.
Professor John Bright Aheto, Council Member, IoD, who addressed the forum on the theme: “Good Corporate Governance”, said the corporate sector ought to live up to expectation, and show true governance by upholding integrity and accountability.
He called for sustained monitoring and evaluation of performance, and also for a “proper mix of competent and qualified personnel with passion to serve on boards” for rapid growth.
A six member team of interim coordinators was formed to help build the Volta Regional charter of the Institute, and charged with birthing the charter in three months.
Professor Harry Tagbor, Dean of the University of Health And Allied Sciences’ School of Medicine, who is also a member of the IOD was selected to lead the regional coordinating team, and he promised to deliver a “strong branch” by the close of the year.
Executives of the Institute later paid a courtesy call on Dr Archibald Yao Letsa, Volta Regional Minister who bemoaned the “bad” culture of corporate governance in all spheres of the local economy, saying political leaders in particular required training in that regard.
He encouraged IOD to continue with efforts at addressing the challenges of leadership, and pledged the region’s support for IoD local charter.