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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
Businessman, farmer granted bail for allegedly defrauding estate developer
The Amasaman Circuit Court has granted bail to a businessman and a farmer over an alleged GH¢120,000 land fraud.
Nii Korley Sai Boni IV, 53, and Kingsley Oblitey Quansah Commey, 44, were granted GH¢150,000.00 bail with two sureties each.
They are accused of granting 20 plots of land without titles to Mr Raymond Kwaku Marfo, Chief Executive Officer (CEO) of RKM Estate Development Company.
The court, presided over by Ms Enid Marful-Sau, ordered that the sureties deposit their valid national identity cards with the Registry.
Nii Boni and Commey denied conspiring to defraud Mr. Marfo.
The court instructed the prosecution to serve the accused with necessary materials by April 2, 2025.
Chief Inspector Frederick Awuah-Ansah, prosecuting, said Mr Marfo was the CEO of RKM Ghana Limited, an estate development company.
He said that Nii Boni is a businessman and self-styled chief of Korleyman near Medie, while Commey is a farmer from Papase near Adjen Kotoku in the Ga West Municipality.
In June 2022, Mr Marfo was working on a land he purchased from Abusuapayin Ayitey Ankwah of Ankwa Dobro.
Nii Boni and Commey, along with one Obodai (now deceased), confronted Marfo, claiming ownership of the land.
The prosecution said Nii Boni and Commey convinced Marfo to buy 20 plots along the road leading to Samsam.
Marfo paid GH¢120,000.00 for the plots, and an official receipt was issued. However, when Marfo attempted to begin work on the land, he was informed by Nii Boni and Commey that there was an injunction on it.
After conducting a search at the Lands Commission, Marfo discovered the land was registered in the name of Babbel Limited.
Marfo then reported the case to the Amasaman Divisional CID on May 10, 2024. Subsequently, Nii Boni and Commey were arrested, and in their caution statements, they admitted the offence.
They promised to repay the amount involved but failed to do so.
After thorough investigations, Nii Boni and Commey were charged and brought before the court.
News
Gaming Commission warns operators against underage betting
The Gaming Commission of Ghana has warned gaming operators involved in underage betting to desist from it.
The Commission also said such facilities will be closed down if it continues in the illegality.
“There is the need to pay attention to underage gambling because the children are our future,” he added.
Acting Gaming Commissioner of Ghana, Emmanuel Quainoo said this in Accra when he paid a courtesy call on the Editor and Acting Editor of The Spectator and Ghanaian Times newspapers, respectively.
The call was part of the Acting Commissioner’s familiarisation tour to some media houses and to build partnerships with them.
He said the mandate of the commission was to regulate the activities of game operators and ensure they conform to the law.
The Acting Gaming Commissioner said the commission has been receiving calls on illegal and underage gambling, a situation he said will need the assistance of the media in clamping down such operators.
He mentioned that the commission has so far licensed 55 gaming operators across the country.
He explained that as of January 2025 to date, 23 casinos, 15 Sport betting, two route operators and five remote interactive games have been licensed.
He mentioned that other operators have put in applications while the rest have paid part of their license fees.
He said the commission was hoping to expand their operations and be visible in all regions across the country.
The Acting Editor of The Ghanaian Times Alhaji Salifu Abdul-Rahman said the rate at which the youth in the Zongo community are involved in betting was alarming.
Alhaji Abdul-Rahman called on the Gaming Commission to intensify their education in schools, especially in the zongo communities while urging them to clamp down on illegal operators.
The Editor of The Spectator, Mrs Georgina N.M. Quaittoo thanked the Commission for the visit, saying “we are willing to partner and support you.”
Also present at the meeting were Deputy Director, Human Resource and Administration, Ms Jennifer Puplampu, Deputy Director, Finance Mr Nana Kwame Sekyi Dadzie and Head of Corporate Affairs Ms Beatrice Baiden.
By Jemima Esinam Kuatsinu
