Tag: corporate governance
-
Disregard for good corporate governance collapsing family businesses -Rockson Dogbegah
The President of the Institute of Directors Ghana, Rockson Dogbega, says blatant disregard for the principles of good corporate governance structures is largely the reasons why most indigenous companies don’t survive beyond their founders. According to him, family relations and sometimes acquaintances often fail to follow laid down procedures, leading to the collapse of companies.…
-
Former banks’ employees could face up to 10-year ban
The Bank of Ghana has announced that former employees or shareholders of commercial banks that are found to have flouted the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), could be banned for up to 10-years from working or owning shares in the sector. The central bank on Thursday, July 25, 2019, published its…
-
BoG stops unwarranted loans to ‘cronies’ with new corporate rules
Directors of banks and other specialized deposit taking institutions cannot operate without disclosing their interests in their places of work. Also, the central bank has directed the full disclosure of conflict of interest guidelines by such institutions to tame adverse impacts of delayed loan repayments. The rules are part of new corporate governance directives issued…
-
BoG enforces separation of powers with new directive
“No one individual shall have unfettered powers of decision in any regulated financial institution.” As a result, no one person shall assume two top positions in any regulated financial institution. These are but a few of the strong words contained in the Bank of Ghana’s new banking business – corporate governance directive. The document comes…