Citi FM has been awarded for its tremendous efforts in promoting accountability and good corporate governance.
General Manager of Citi FM, Bernardino Koku Avle, who is the 2017 GJA Journalist of the year, received the award on behalf of the company, before receiving a personal award at the National Conference and Awards ceremony of the Institute of Directors Ghana, held in Accra.
The National Conference and Awards ceremony formed part of this year’s Directors Week celebration under the theme, ‘Stimulating and sustaining the culture of sound Corporate Governance.’
The recent banking sector crisis experienced in Ghana exposed lapses in corporate governance structures, making it a subject of concern.
Delivering a speech on behalf of the Governor of the Bank of Ghana, Adviser to the Governor, Grace Akrofi, assured that measures are being put in place to strengthen the systems in banks.
“Bank of Ghana will continue with reforms to maintain the stability and integrity of the financial sector. Already, we have issued directives on corporate governance and fit and proper guidelines for top management of the banking sector”, she said.
A Senior Partner at law firm AB and David, David Ofosu Dorte, said the country’s corporate governance systems are largely weakened by cultural practices.
“Until we are able to set aside our cultural practices from the corporate environment, corporate governance will continue to be weak”, he said.
He added, “As a people, we give all powers to one person, just like the way we treat our chiefs, expecting them to have all power when it should not be so”.
The Institute established in 1999 aims to promote good corporate governance in Ghana through training, consultancy services, research and advocacy.
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By: Anita Arthur/citibusinessnews.com/Ghana