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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
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National Cathedral: We can’t halt salary payments because project is on hold – Dr. Joyce Aryee
Dr. Joyce Aryee, a member of the National Cathedral’s board of trustees, has dismissed concerns about staff payments, including those of CEO Dr Paul Opoku-Mensah, during the construction halt as “ridiculous.”
Her response follows growing concerns over the project’s stalled progress and its impact on staff salaries.
Speaking on the sidelines of a symposium organized in collaboration with TD Jakes’ divinity school on Monday, October 14, Dr Aryee said, “If a project is on hold, it doesn’t mean that people are not working to keep it going. I’m surprised, I don’t even want to comment on it, as ridiculous as this. No, I won’t comment.
She further challenged the logic behind the concerns, adding, “So you establish an organisation, the organisation should stop because you don’t have money to continue a certain aspect of the organisation. Is that it? Answer it yourself.”
Meanwhile, Dr. Paul Opoku-Mensah, Executive Director of the National Cathedral, has sought to clarify misconceptions surrounding the project, emphasizing that it goes beyond being just a church building.
He highlighted the potential benefits the cathedral could bring, including revenue generation and showcasing Ghana’s rich cultural heritage to the world.
The National Cathedral project has faced strong opposition, with critics questioning the appropriateness of government involvement and raising concerns about a lack of financial transparency.
However, Dr. Opoku-Mensah remains optimistic, particularly following a symposium held in collaboration with TD Jakes’ divinity school. The event aimed to educate the public about the broader functions of the cathedral.
Envisioned as a historic landmark, the cathedral is intended to serve as a sacred space for religious activities. Additionally, it will feature Africa’s first Museum of the Bible, a collaboration with the Museum of the Bible in Washington, D.C.
“The symposium is just conceived as the National Cathedral’s response to what in Ghana we perceive to be the return initiatives and offer a pathway mediated by faith to connecting Ghana to the African diaspora,” she said.
This collaboration will seek to develop a Pan-African community to collectively work to address historical, racial and contemporary of Africa’s contributions to theology practice.
She said, “We seek to demonstrate the conveying functions of the National Cathedral, the National Cathedral project is often misunderstood, conceived almost entirely as a physical church building. The National Cathedral is more than a church and it includes critical national, continental and global conversations.”He congratulated TD Jakes’ divinity school for taking students across the African continent.
Source: Citinewsroom.com
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NPP-NDC clash at Mamobi: One person arrested
One person has been arrested in Connection with the clash involving members of the New Patriotic Party(NPP) and National Democratic Congress (NDC) at Mamobi in Accra on Sunday.
“The Ghana Police Service wishes to assure the general public that investigation into the disturbances that occurred between supporters of the New Patriotic Party (NPP) and the National Democratic Congress (NDC) at Mamobi in Accra, yesterday, Sunday 13th October 2024, is still ongoing,” the police revealed in a statement today.
They concluded, “So far, one person has been arrested in connection with the incident and the Police are working around the clock to get all identified perpetrators arrested to face justice.”
