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Businesses must brace themselves for the possible take-overs -– Rev. Okosun
Integrity Magazine, a subsidiary of Krif Ghana Limited, has held the maiden edition of a series of webinars aimed at promoting good corporate governance amidst the COVID-19 pandemic.
Themed “Effects of COVID-19 on Good Corporate Governance in Ghana”, which was held on Tuesday in Accra, it served as a platform for businesses to discuss the next strategic steps to take in order to sail through the coronavirus crisis with minimal losses.
Speaking on the effects of the pandemic on companies, Rev. Kennedy Okosun, Executive Chairman of Krif Ghana Limited and Publisher of the Integrity Magazine, said many organisations would “have to brace themselves for the possibility of take-overs”.
According to him, “there might be critical unanswered questions rummaging through the minds of many as we move into a period of a new normal.
“Our culture, corporate behaviour and organisational output are going to be affected, whether we like it or not. Organisations will never go back to doing business as usual, or doing business the way they knew how,” he said.
Rev. Okosun noted that businesses must be ready to embrace the positive or negative changes which may occur after the pandemic, adding that businesses would also have to make far “reaching decisions regarding liquidity and capital considerations”.
He argued that the COVID-19 era was also testing the leadership and management structures of organizations, hence the need for businesses to identify gaps and then strengthen the areas where they may be falling short.
Mr Michael Osikoya, the Chief Executive Officer of Mikensy Consulting Limited, examining the effects of COVID-19 on various stakeholders, also said, “Just as we are recording human fatality, we may not be able to account for the number of businesses that suffer similar ‘fatality’ from the hands of COVID -19.”
He noted that though the pharmaceutical industry was believed to have benefited from the crisis, industries including tourism and leisure, aviation and maritime, automotive, construction, real estate and manufacturing, were hard-hit by the pandemic.
“Government has been affected adversely by this virus because it has had to provide various stimulus packages and dole out free cash to support various stakeholders, interest groups, businesses and citizens.
“Hard decisions had to be taken, government has lost income from taxes and has resorted to borrowing as part of measures to bring the economy back on track,” he added.
For the solutions, Mr Osikoya suggested that business, leaders and stakeholders should enter into a “restart” mode to come out of the challenges the virus has imposed on them.
He said that all the various stakeholders in business such as the shareholders, employees, customers and others must forfeit certain benefits to bring back businesses on track.
The webinar brought together leaders from various organisations in the corporate environment in Ghana.
By Spectator Reporter
News
National Service Authority to Introduce Military Training
Management of the National Service Authority, yesterday, Wednesday, April 23, 2025, held talks with the Military High Command towards the implementation of the National Service Emergency Response Readiness Programme (NSERRP).
When implemented, this will reflect His Excellency the President’s commitment towards the implementation of a short military training for National Service Personnel (NSPs) as planned efforts to instill discipline, nationalism and physical fitness among Ghanaian graduates.
The President shared this position during his maiden State of the Nation Address in Parliament on Thursday February 27, 2025.
At yesterday ’s meeting, the Director-General, Mr. Felix Gyamfi reiterated the need for all personnel to undergo basic military drills and orientation as part of orienting the youth to embrace national development.
“The introduction of this military training is a step in the right direction and must be embraced by all and sundry as one of the indicators for resetting the country, particularly the youth,” he commented.
On his part, Brigadier General Amoah-Boakye assured the Authority of their willingness to provide the requisite training for personnel when the Programme officially commences.
In all, personnel will receive up to two months of composite basic military drills starting 3rd August, 2025.
News
Ghana Tourism Authority acts on concerns of minors allegedly taken to Hotel in Accra New Town.
The Ghana Tourism Authority (GTA) has taken swift action following reports circulating on social media regarding an incident involving minors allegedly taken to a hotel in Accra New Town.
The case has been formally reported to the Nima Division of the Ghana Police Service for investigation.
In line with their mandate to ensure safety and compliance in the tourism and hospitality sector, our CEO Mrs.Maame Efua Houadjeto delegated a team from the GTA Head Office, Mr. Gilbert Abeiku Aggrey, Deputy CEO, Special Duties and Mr Ekow Sampson, Deputy CEO, Operations who joined the Greater Accra Regional Director, Ms. Roberta Dawson-Amoah, and the Deputy Director of Marketing, Ms. Clara Nketiah, to visit the said facility.
The objective was to verify the facts on the ground and take necessary regulatory action.
They commended the Ghana Police Service for their co-operation and continued support in the ongoing investigation.
Additionally, the team inspected Royal Dede Beach Resort, which has been converted into a hostel under new management without official notification to the Ghana Tourism Authority.
The team discovered that the hostel’s operations were not in compliance with the L. I 2239. Meanwhile the operator has been directed to the Standards and Quality Assurance Department of the Authority for the necessary regulation.
“We remind all accommodation operators that the Tourism(Registration and Licensing of Accommodation) Regulations, 2016 (L.I. 2239) mandates every facility to register and obtain a license from the GTA before commencing operations.
This regulation ensures quality, safety, and compliance across the industry,” they noted.
The GTA they said, remains committed to safeguarding the public and upholding the highest standards in the hospitality sector and urged
the public to report suspicious or non-compliant facilities to the nearest GTA office.
