Redefining corporate governance – Nana Otuo Siribour II

President of the Council of the Council of State, Nana Otuo Siribour II

The President of the Council of the Council of State, Nana Otuo Siribour II, called for redefining corporate governance, with a practice that goes beyond simple adherence to new rules that demonstrate ethics, integrity , honesty and transparency.

He said corporate governance was more than just a set of guidelines: it was rather a framework that underpinned the core values ​​of the management of businesses and corporate entities, including a commitment to communicate effectively. transparent way with stakeholders, in our case the government being a major stakeholder. .

He therefore advised Corporate Bodies, Directors, Members of the Board and Management of public service establishments, to look beyond the simple compliance with the letter of new laws and regulations in a checkbox.

He urged all directors, board members and CEOs (CEOs) of corporate and public service institutions to ensure that they remain the true stewards of corporate responsibility, and their actions have demonstrated their dedication to this management.

Nana Siribour II made the call during the first orientation workshop organized by the Civil Service Commission (PSC) in Accra on Wednesday, for members of the newly elected boards and councils of different government institutions.

The program, which aimed to have a positive impact on the management of public service institutions for better service delivery, was themed: “Good governance practices in the midst of the COVID-19 pandemic: the role of councils of administration and boards of directors ”.

Nana Siribour II, who chaired the function, said that good corporate governance is crucial to improve the long-term success and performance of institutions and called for a change of mindset among leaders to ensure an organization-wide culture that promotes ethical behavior and decision-making. manufacturing.

He urged them to do more to build and maintain an organization-wide ethical commitment to doing the right thing, so much so that it intertwines in what might be perceived as the ” DNA ”essential to the organization.

He also called for board trustees to be prepared to devote sufficient time to their duties, as has been seen in too many cases where inactive boards have allowed management to plunder the office. business.

A more engaged board and board members could help identify pressure points, prevent the spread of small issues, and send a powerful message to an organization’s stakeholders that the board is focused on its responsibilities. , did he declare.

He said two points that have sometimes been overlooked in corporate governance discussions were the role of the board of directors to provide strategic direction and effective oversight, which should not be compromised or misinterpreted.

Nana Siribour II stressed that allowing boards and councils to transform into operational committees and dilute their effectiveness and that of operational management would not benefit stakeholders or employees and could be catastrophic for the institution.

Second, there was no one-size-fits-all solution to the corporate governance challenge, as it was necessary for these bodies to do their utmost to maintain governance structures and processes suitable for all uses and supporting good governance. decision-making in the board of directors, he added.

He said the key was for companies and their boards to understand the need for greater transparency and accountability, and to promote a corporate culture based on values ​​and ethical behavior, adding that “the weak governance in civil service organizations can lead to inefficiencies, low productivity, corruption and consequently, retard economic growth and development in Ghana.

Dr Mokowa Blay Adu-Gyamfi, presidential adviser on HIV, representing the chief of staff for the opening speech, said it is the responsibility of all boards and boards to develop policies, rules and regulations. appropriate regulations, codes of conduct, monitoring and evaluation mechanisms. and strategies to promote effective good governance practices to ensure the effective execution of their legal mandate.

She said moving Ghana forward could only be achieved if everyone started to do things differently and called for a paradigm shift in mindset, attitudes and behaviors, if Ghana was to increase productivity and steadily increase l ‘improved service delivery.

She said that while the public expected Boards and Boards, through their appointment to these trusted offices, to perform their duties with integrity in a fair and impartial manner, there is had some areas of concern identified involving potential conflicts between their personal interests and duties. to their Organizations.

Dr Adu-Gyamfi said there had also been conflicts between boards, boards and chief executive officers (CEOs) to ensure accountability to stakeholders, especially in this era of the COVID pandemic -19.

She urged public service boards and boards to provide the right vision and leadership for the advancement of government activities, and reminded presidents, members and directors general of the need to uphold the core ethics that governed their work. work and demonstrate integrity in the performance of their duties. their work, avoid double standards, be bold and resist fraudulent practices.

She called on all public sector leaders to be innovative in mobilizing the necessary resources for their organizations to complement government efforts and to take advantage of the current technological opportunities presented by the pandemic and to digitally transform processes to improve performance. service delivery in the public service while identifying ways to fill the technological skills gap to enable all public servants to fully embrace the digitization agenda.

Dr Janaet Ampadu Fofie, Chairperson of the Civil Service Commission, said the two-day program was the first in the series to be held for new boards, boards and general managers of Ghanaian public services, in order to provide them with information on their roles and mandate under article 190 of the Constitution of Ghana of 1992.

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