Boardroom governance benchmark for accountability, sustainable growth
The maiden edition of a summit to set a new benchmark for corporate governance discourse in Ghana and beyond has been held in Accra.
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Dubbed: Boardroom Governance Summit, and held at the Labadi Beach Hotel, it was organised by the Ministry of Finance, State Interests and Governance Authority (SIGA) and the Institute of Directors Ghana (IoD-Gh), the event brought together leading minds from various sectors to explore the crucial relationship between governance practices and sustainable development.
The summit coincided with the launch of a book, ‘Practical Perspectives on Boardroom Governance’, authored by Professor Douglas Boateng, who was also the Convenor of the summit.
The book provides actionable insights and practical strategies for enhancing governance practices, making it an essential resource for corporate leaders and board members committed to driving sustainable development.
The Minister of Finance, Dr Mohammed Amin Adam, emphasised the pivotal role of good governance in the attainment of sustained national development.
Good governance
“Undoubtedly, good governance is a means to improve development outcomes. Indeed, at the macro level, numerous studies show a direct link between well-governed public institutions and better social outcomes,” he said, adding: “Without accountability, sustainability initiatives aimed towards sustained development risk becoming superficial and failing to deliver real, lasting impact.”
Dr Amin Adam also underscored the relevance of robust governance structures for the success of organisations, saying: “Strong governance structures are essential for corporate success and the backbone of sustainable development.
They are not merely beneficial but indispensable for the holistic success of any organisation.”
Relevance
Speaking with the media on the sidelines of the summit, Professor Boateng said the “event is timely, profound and far-reaching. Good governance is the cornerstone of trust and confidence in our institutions, which in turn drives investment, innovation and growth.
Our discussions today have highlighted that sustainable development is not just a corporate responsibility but a societal imperative.”
He held the view that “by embedding governance principles into our practices, we ensure that economic growth is inclusive and benefits all members of our community.”
He admonished participants to adopt insights from the summit to foster a sustainable future for coming generations.
“The strategies and insights shared at this summit provide a roadmap for leaders across sectors to implement practices that are both ethical and effective. This is particularly important as we face global challenges such as climate change, economic instability and social inequalities.
Our commitment to these principles will ensure that our development efforts are resilient and adaptable, fostering a sustainable future for generations to come,” Professor Douglas Boateng said.