Speech delivered by Mr. Rockson K. Dogbegah (FIoD), President of the Institute of Directors-Ghana on the launch of 2020 IoD-Gh Directors’ Week Celebration
The Institute of Directors-Ghana, a member of the African Corporate Governance Network (ACGN) is a Professional Body with the core mandate for Training, Research, Consultancy Services, Advisory Services, and Advocacy in Corporate Governance.
For two (2) decades, the Institute has championed Director interests impacting the local Corporate Governance landscape with support from its partner, the International Finance Corporation (IFC). Significant inroads continue to be made into both public and private sectors through training and strategic engagements with stakeholders.
IoD-Gh established and held the maiden Directors’ Week Celebration in 2018 as an annual event to bring Directors and members of the Institute together to build their capacity, network and share ideas on how to promote Directorship and professionalism in their various spheres of influence.
The second Directors’ Week Celebration was held in 2019 in Accra with two outstanding International Corporate Governance Conferences that brought together top-notch Directors and high-level stakeholders from nineteen (19) African Countries.
This year’s Directors’ Week celebration which happens to be a virtual event is the third since its inception. It promises to be very extraordinary.
The Theme for this year’s event is Good Corporate Governance and Leadership: An Essential Framework for the Management of Uncertainties.
Directorship plays a key role in the wealth and value creation of nations. The Board of Directors is the focal point in the Corporate Governance system and legally mandated with directing and overseeing organisational success. Good Corporate Governance contributes to improved organisational effectiveness. Directors provide leadership to ensure sustainable good Corporate Governance culture to advance responsible economic growth and innovation. Directors continue to operate in increasingly complex, dynamic and uncertain environments to achieve their goals. The recent Corporate Governance related leadership failures in some financial institutions in Ghana with corresponding huge cost both at the micro and macro levels confirm the need for sustainable sound corporate governance practices anchored by competent Directorship. It is also noteworthy that in an uncertain Covid-19 pandemic environment, Directors are to up their game to ensure appropriate strategic interventions for business continuity and sustainability.
Ghana has a practice where CEOs of State-Owned Enterprises are appointed ahead of the formation of the respective boards charged with the responsibility to direct the affairs of such enterprises. This tradition defeats the principles and practices of good cooperate governance.
IoD-Gh will like to bring this to the attention of all Presidential hopefuls, in the event that they are elected to power, Ghanaians will like to see best practice at play. This will ensure corporate boards are appointed and sworn into office with the mandate to manage such entities they have been appointed to serve. The boards should use its powers to search and appoint suitable CEOs who will be charged with the responsibility to manage the State Owned Enterprises on a day to day basis. This is very dear to us.
Ladies and gentlemen of the media, the need for Directors to self-appraise; test, prepare and insulate themselves against uncertainties is another major issue and has become a key global concern not only for Directors but humanity in general. Preparation to contain uncertainties has not only become the new normal but a key essential, necessitating that things are done differently; especially in this Volatile, Uncertain, Complex and Ambiguous (VUCA) world of ours.
IoD-Gh is ready to offer necessary support to individuals and institutions to help build the needed capacity for sound Corporate Governance and leadership in the economy.
The Directors’ Week Celebration for 2020 will therefore explore opportunities for members to examine their systems and assess their degree of preparedness for dealing with uncertainties. Strategic capacity development sessions will also be organized to equip Directors with tools to manage uncertainties. Opportunities will further be created for members to interact with the leadership to discuss various strategic issues relating to the Institute.
An Awards Ceremony will be held to recognize individuals and organizations who have distinguished themselves in the promotion of good Corporate Governance. This year’s event promises to be exciting as it is being held in a period for the New Normal where humans are being challenged to think and behave differently.
The event line up for the 2020 Directors’ Week Celebration is as follows:
- Capacity Building Sessions: 17th November 2020; 9:30am to 4:30pm
- IoD-Gh Members’ Forum: 18th November 2020; 9:30am to 4:30pm
- Corporate Governance Excellence Awards: 19th November 2020; 7:00pm to 9:00pm
The Institute welcomes all, including individuals and corporates to join in sustaining sound corporate governance culture in Ghana.
On this note, I declare the Institute of Directors Week 2020 duly launched.
Thank you.
