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COVID-19: IoD prescribes remedies for businesses
The Institute of Directors (IoD) has advised businesses to develop immunity through strategic capacity development for the new normal till the COVID-19 pandemic eases.
This it said must be coupled with a cultural shift, mindset change, behavioural change and a robust change management process including effective communication with major stakeholders as an imperative if businesses must survive.
The IoD made these recommendations in a communiqué issued in Accra yesterday after a meeting with some companies’ board chairs.
The meeting chaired by Mr Tony Oteng-Gyasi sought to undertake a situational analysis of the present predicament within the context of Ghanaian businesses.
It recommended to businesses to focus on short-term survival strategies till September 2020, allowing another 18 months for the dust to settle whilst keeping tabs on global reactions.
“Employers should develop good relationships with their employees and give employees information on the actual status of the business to avoid unreasonable demands leading to minimising the risk of layoffs. Businesses should seek labour experts on account of the high potential for future redundancies and layoffs,” the communiqué said.
It said “There must be professionalism in dealing with the psychological effects on both internal and external stakeholders. Businesses should begin to consider a broader range of skills in candidates who desire to sit on boards.”
“Current board members must also be trained. Training content must be informed by sector specific business continuity plans, periodic reviews of which will also address both present and future gaps including underlying risks and unexpected disruptions.
Businesses must bear in mind that the various projections for the development of a vaccine for the corona virus are uncertain, drawing lessons from previous outbreaks like HIV/AIDS, Ebola, SARS, MERS, TB etc,” the communiqué said.
This the communiqué said called for adaptability regarding business plans, creation of operational environments with minimal contacts, plan for all types of risks bearing in mind the effects of depreciation of demand and the way forward.
“Businesses should uphold high standards in health and safety protocols starting from the board. This may include reducing to the barest minimum board member contacts on account of the inherent danger of exposure, reduction in routine and regular board physical meetings and considerations to new approaches to conversations to factor in procedural arrangements,” it said.
The communiqué also asked businesses should conduct COVID-19 impact assessments on their sectors and operations, document strategic mitigation and survival methodologies and ensure sustainable implementation.
“Board agenda should begin to change considerably from the traditional pathways with a keen focus on business robustness and sustainability with risk management as a very critical ingredient. IoD-Gh considers these positions as strategically relevant to the Ghanaian business survival and growth in this era of COVID-19 pandemic,” it said.
This engagement is the first in a series of planned interactions among Chairs of Boards.
The Institute of Directors-Ghana (IoD-Gh) is a professional institution, which was registered in 1999 to promote the culture of good corporate governance through training, consultancy, research, and advocacy.
Its mandate is to advance and institutionalise the culture of sound corporate governance and competent leadership in Ghana.
BY TIMES REPORTER
News
MoMo vendor 24 murdered at Kwadaso
A disturbing crime has shaken the Kwadaso Onion market community in Kumasi, leaving family and friends grieving the loss of a young life.
Identified only as Junior, a 24-year-old mobile money vendor, was found murdered in his room on Saturday, March 8, 2025.
According to eyewitnesses, Junior had returned home the previous day with a substantial amount of money, over Gh¢20,000.
It was suspected that the killers might have been motivated by the large sum of money in Junior’s possession.
A police source that confirmed this to The Spectator, said investigation has been launched into Junior’s murder, but so far, no arrests have been made.
The Kwadaso community is reeling in shock, calling for justice and an end to the atrocity that has claimed the life of a young and promising individual.
Junior, is believed to be a native of Ejisu Onwe, and was known to his colleagues and friends as a hardworking and diligent individual who worked at the Kumasi Race Course.
His tragic death serves as a stark reminder of the risks and challenges mobile money vendors faced.
The incident comes barely a month after Patricia Nimako, a 27-year-old Mobile Money (MoMo) vendor, was shot and killed at Krofrom, Kumasi in the Ashanti region by an unknown assailants.
The suspected armed robbers fled with the deceased cell phones and an amount of GH¢10,000 on Thursday, February 13, at approximately 3:00 p.m.
The two armed robbers reportedly stormed the kiosk where the deceased was operating and without any provocation shot her dead.
There has not been any arrest yet by the police.
From Kingsley E. Hope , Kumasi
News
Former Dean, 68, in same law class with daughter Wonders, the sages say shall never end.
Some people say life is all about nursing and adding value to it to build and gain an incorporated image in society.
It is also said that age is just a number and must not serve as a barrier to people who seek to pursue their long-cherished dreams by going into new areas to acquire knowledge.
With this in mind, a former Dean of Business, Education and Law at the University for Development Studies, Wa Campus, Professor Daniel Bagah, 68, a foundation layer of UDS and former Upper West Region’s Council of State member has enrolled to venture into the legal field to study law at SDD-UBIDS this academic year.
The surprising thing about Professor Bagah going to read law is not about his age, but that he is sitting at the backline of his third daughter in the same class for lectures to the admiration of the young ones in lecture halls and some of the lecturers he handled at the university.
When Professor Emmanuel K. Derbile, Vice Chancellor of the SDD-UBIDS announced the name of Professor Bagah among the ‘freshers’ for the 2024-2025 academic year to pursue LLB, there was an uproar among the students and some lecturers alike about the news.
Talking to Professor Bagah in an interview, he said the legal field had been his long-cherished dream, which was about to elude me but time has come for him to venture into new areas to acquire new knowledge.
“I believe in getting to new areas of knowledge and throughout my studies, my first, second and third degrees, I have not been able to do law, which is a new area for me. My age is nothing to me, it is my intention to challenge the young lecturers and students to emulate me and go into the legal field to know of their human rights and the rights of other people.
“For the few days that I have been lectured, I have realised that I had trampled on so many people’s rights ignorantly, even during communication with others l wrong them,” he said.
Professor Bagah, therefore, advocated basic law to be taught at all tertiary schools in Ghana to open the mindsets of the students to know about their rights and the rights of others, as well as defend the country patriotically.
He appealed to the people of northern Ghana to take advantage of the Law School to improve their lives since the school is the first law school in the north.
Miss Portia Bagah, 24, said her degree was in Estate Management and her dad had been an inspiration in her life, encouraging her to pursue the law programme.
She said the presence of her father in class serves as motivation and challenge to her and not a setback like others might be thinking. –GNA
