Chairman of the Council of State, Nana Otuo Siribour II, has called for the redefinition of redline corporate governance, with practice that goes beyond adherence to new ethics, integrity, honesty and transparency.
He said corporate governance is more than just a set of guidelines and is a framework that underpins the core values for running businesses and corporate entities, including a commitment to pen and transparent communications with stakeholders.
He advised corporate bodies, directors, council members and management of public service institutions to look beyond simple compliance with the letter of the new laws and regulations in a check-the-box.
Nana Siribour II urged all directors, council members and chief executive officers (CEOs) of corporate and public service institutions to remain the true stewards of corporate accountability, and their actions must demonstrate their dedication to this stewardship.
He made the call at the maiden orientation workshop organised by the Public Service Commission (PSC) in Accra for members of the newly elected governing boards and councils of the government institutions.
The programme, which was aimed impacting positively on the management of public service institutions for improved service delivery, was on the theme: “Good Governance Practices Amid the COVID-19 Pandemic: The Role of Governing Boards and Councils”.
Nana Siribour II, who chaired the function, said good corporate governance is crucial in improving long-term success and performances of institutions.
He urged them to do more to install and maintain an ethic organisation-wide commitment to do the right thing, so much so that it becomes entwined in what could be perceived as the essential “DNA” of the organisation.
Nana Siribour II also called on the directors of boards and councils to be prepared to devote sufficient time for their duties, as inactive boards enable management to plunder the corporation.
“A more engaged board of directors and council members could help to identify pressure points, prevent small problems from spreading and send a powerful message to an organisation’s stakeholders that the board is focused on its responsibilities,” he revealed.
He said two points that are sometimes overlooked in the discussions of corporate governance are the role of the board to provide strategic guidance and effective oversight, which must not be compromised.
Nana Siribour II stressed that allowing boards and councils to devolve in into operating committees, and to dilute their effectiveness and that of operating management would not benefit stakeholders or employees, and could spell disaster for the institution.
He added that there are no one-size-fits-all solutions to the corporate governance challenge, as it is necessary for the bodies to make efforts to maintain governance structures and processes that are fit for all purpose and support good decision making by the board, he added.
Nana Siribour II said the key for companies and their boards to understand the need for greater transparency and accountability and promote a corporate culture that is based on ethical values and behaviours, as that “weak governance in the public service organisations may lead to inefficiencies, low productivity, corruption and consequently, retard economic growth and the development of Ghana.
Dr Mokowa Blay Adu-Gyamfi, the Presidential Advisor on HIV, representing the Chief of Staff for the keynote address, said it was incumbent on all governing boards and councils to develop appropriate policies, rules and regulations, codes of conducts, monitoring and evaluation mechanisms and strategies for promoting effective good governance practices to ensure effective delivery of their legal mandate.
She said moving Ghana forward could only be achieved if all behave differently and called for a paradigm shift in the mentality, attitudes and behaviours.
She stated that there are often conflicts between boards, councils and chief executive officers (CEOs) in ensuring accountability to stakeholders particularly in this era of the COVID-19 Pandemic.
She urged public service boards and councils to provide the right vision and leadership for the furtherance of government businesses, and reminded their chairpersons, members and CEOs on the need to uphold the core ethics that govern their work and to exhibit integrity in the discharge of their work, avoid double standards, be bold and resist fraudulent practices.
She asked all public sector leadership to be innovative in mobilising resources for their organisations to complement the efforts of government and leverage on technological opportunities presented by the pandemic and digitally transform some of their processes for service delivery in the public service and identify ways to address the technological skills gap.
The Chairperson of the Public Service Commission, Dr Janet Ampadu Fofie, said the two-day programme was the first in the series to be organised for newly appointed governing boards, councils and chief executives of the Ghana Public Services to provide them with information on their roles and mandate under Article 190 of the 1992 Constitution of Ghana.
