The Institute of Directors Ghana (IoD-Gh) has held its third Excellence Awards ceremony in Accra with a call on members to sustain the culture of good corporate governance.

The event honoured excellence and championed the subject and practice of good corporate governance in the country.

The IoD-Gh has the mandate as a professional body committed to pioneering and promoting the subject and practice of corporate governance in Ghana.

Mr. Rockson Dogbegah, President of the Institute, said: “The main aim of the Awards is to stimulate and sustain the culture of good corporate governance, champion director professionalism, and development through education for the benefit of organizations, stakeholders and for the prosperity of Ghana.

“For this reason, the requirements and questionnaire for the IoD-Gh Corporate Governance Excellence Awards have been robustly and extensively developed to provide an in-depth education on the principles and practises of good corporate governance, which is required to avert the decline of good corporate governance culture in Ghana,” he added.

Mr. Dogbegah said corporate governance as a subject of interest had developed and become the norm and acceptable practice although it still remained a broad field of study and practice subject to so many nuanced debates.

He said that required a high degree of emphasis to be laid on continuous learning, research, development, and strategic planning.

Mr. Dogbegah said there was undoubtedly a lot of need for it in Ghana considering the significant experience of corporate failures the financial services sector, for example, had seen between 2017 and 2020, and even as a stopgap to the friction that sometimes happened between CEO’s and their Boards.

He said that was the ultimate goal of the Institute to make best practice in corporate governance desirable in the country and to help prevent such organisational failures by training directors on what must be avoided and generally to promote the culture of good corporate governance.

“We celebrate these heroes and heroines today to encourage enlightened leadership at every level of corporate governance and hope by these awards, we will set the tone for effective communication within and between networks for the development of good corporate governance and relationships,” Mr. Dogbegah said.

He said the new world envisioned would lead the Institute to create moments of insights and experiences with exponential objectives that would further lead to successful change initiatives that inspired new things and old good things done in a different way.