The Institute of Directors – Ghana (IoD) has signed an MoU with the Wa Polytechnic at Wa in the Upper west Region.
The main objective of the MoU is to help bridge the gap between industry and academia by introducing courses on good corporate governance.
The Wa Polytechnic is also expected to use its resources to organize conferences and trainings for Senior and Junior High School students with technical support from the Institute of Directors.
The Acting Rector of the Wa Polytechnic, Mohammed Iddrisu Ngmenipuo said it is essential that young people are educated well on good corporate governance so that they will be well positioned to take over top management positions in the corporate world.
“As part of the terms of the MoU, we [Wa Polytechnic] are/[is] supposed to be organizing programs throughout the year including one international conference every year and introduce courses in corporate governance and support in the formation of clubs and societies on corporate governance,” he said.
Mr. Ngmenipuo said it is critical to “catch them [students] young” so that they will be very well equipped for directorial positions.
The Institute of Directors – Ghana IoD is a professional body established in 1999 to promote good corporate governance in Ghana through training, consultancy services, advisory services and advocacy.
The Institute’s rationale for operating is premised on the fact that corporate governance is now linked to national governance.
The IoD stresses that sound corperate governance can no longer be considered as a luxury or an option for businesses in the 21st Century.
The Institute has visited seven regions including the Upper West Region to induct new members and constitute new boards where there are none.
A nine-member executive board has been constituted to oversee and further the work of the Institute in the region.
The President of the IoD, Rockson Dogbegah said the growth of any institution is hinges on the kind of leadership it has.
He said it is imperative that people in leadership positions take up issues of good corporate governance seriously.
He talked about the tenets of good corporate governance saying “if organisations are governed well, we expect four (4) main outcomes”.
Mr. Dogbegah went on to list the outcomes as ethical culture, good performance, effective control and legitimacy.
He observed that sound leadership entails making the best out of every situationin in order for an organisation to succeed.
The President of IoD said the MoU signed with the Wa Polytechnic and other tertiary institutions is supposed to help build a robust and well prepared youth for the corporate world.
The Deputy Upper West Regional Minister, Amidu Chinnia Issahaku was happy about the establishment of a branch of the Institute in the region.
Mr. Chinnia Issahaku urged persons in management positions to embrace modern technology to make them more efficient.
He stated that “revenue mobilization” at the local level requires data and IT to make it more efficient and easy to collect.
Mr. Chinnia Issahaku also bemoaned the inadequacy of internal control measures in a number of organisations “especially at our Municipal and District Assemblies”.
He said the lack of proper internal control and risk management policies have resulted in waste and sometimes corrupt activities.
Mr. Chinnia Issahaku charged heads of institutions to implement proper internal control measures and strategies that are in keeping with good corporate governance to prevent waste and corruption.
Story by Mark Smith & Editing by Emmanuel Mensah-Abludo
