The Institute of Directors-Ghana (IoD-Gh) visited the Dzorwulu Special School for the Intellectually Challenged. The visit was part of the twenty-third (23rd) anniversary commemoration activities of the Institute of Directors-Ghana (IoD-Gh).
Since 1999, The Institute has impacted the local Corporate Governance Landscape, promoting ethical leadership through advocacy for the practice of good Corporate Governance with support from its partners.
The idea for the creation of the Institute was first birthed in October 1997 during a Commonwealth Heads of Governments meeting in Edinburgh, Scotland where it was resolved that “Capacity should be established in all Commonwealth countries to create or reinforce corporations to promote good Corporate Governance, in particular, codes of good practice, establishing standards of behaviour in the public and private sectors to secure greater transparency and to reduce corruption.”
A year later, the Commonwealth Secretariat held a technical workshop in London on Corporate Governance. Twenty–Four (24) countries in attendance then resolved to set up a Commonwealth Association for Corporate Governance (CACG). Consequently, on the 3rd of December 1998 the first meeting of the newly formed CACG was held in Johannesburg, South Africa. The first President of the Association was Prof. Mervyn Eldred King.
It is noteworthy of mention that in June of the same year, the State Enterprises Commission of Ghana together with the Commonwealth Association for Corporate Governance organised a three-day workshop in Accra, on effective Corporate Governance. This was the first workshop on Corporate Governance in Ghana. At the end of the workshop, participants unanimously agreed on the formation of an Institute of Directors. A Task Force was set up to pursue the objective, resulting in the birth of IoD-Gh which was registered a year later on the 21st May 1999.
A member of the African Corporate Governance Network (ACGN), IoD-Gh is now a professional body licensed to champion Director interests through Advocacy, Training, and Research in Corporate Governance. Over the years and with the great strides made to bridge the many Corporate Governance gaps across a wide range of Public and Private sector industries, the IoD-Gh has formed strategic partnerships with relevant Authorities to further strengthen the operations of businesses for sustainable growth.
The Institute in collaboration with key stakeholders launched a project in November 2021 to develop a National Corporate Governance Code (NCGC). The NCGC Project therefore seeks to harmonize the different industry and sector specific governance codes as currently exists into a National Code that will provide ease of compliance and reference, to promote the culture of good Corporate Governance for public and private organizations.
The Code would serve as a unified national corporate governance reference for good Corporate Governance for all stakeholders in the country, and also enhance Ghana’s global appeal as an investment destination, provide clarity, inclusiveness, harmony and synergy, and boost investor interest and confidence as the harmonized Code is expected to be in conformity with international best practices.
The IoD-Gh is committed to continue to play a key role in ensuring that both State-Owned Enterprises (SoEs) and Small and Medium Scale Enterprises (SMEs) become competitive and viable; and especially for family owned businesses to live beyond their first generation.
The Institute takes this opportunity to remind leadership of organisations to provide ethical leadership and maintain focus on the tenets of good Corporate Governance such as Accountability, Fairness, Integrity, Responsibility and Transparency
