• About NowNewsgh.com
  • Absa determined to take the lead in sustainable Banking in Africa
  • Advertise with Us
  • All News
    • Absa determined to take the lead in sustainable Banking in Africa
  • Our Terms and Conditions
  • Privacy Policy
  • Youth unemployment can be solved by Academia and industry collaboration– Economist
Sunday, January 29, 2023
Now News Ghana
Advertisement
  • Business News
  • World
  • Tech
  • Sports
  • Sustainability
No Result
View All Result
  • Business News
  • World
  • Tech
  • Sports
  • Sustainability
No Result
View All Result
Now News Ghana
No Result
View All Result
Home Tech

Reset corporate governance agenda

Reset corporate governance agenda

May 20, 2021
in Tech
0
Reset corporate governance agenda

The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr K.K. Sarpong, has made a strong case for how corporate institutions and businesses can survive the devastating effect of the global pandemic. According to him, there is the need for institutions and businesses to reset their corporate governance agenda in order to turn around from the ravages of the COVID-19.

“If businesses are to recover from the shocks of the pandemic, there will be the need to reset the corporate governance agenda to build business resilience and ultimately sustain economic growth,” he said.

Delivering the keynote at the opening of the 5th CEOs Summit in Accra yesterday on the theme: “Digital Transformation: Resetting Corporate Governance Agenda For A Post-Pandemic Business And Economic Resilience,” Dr Sarpong, who is one of the country’s most experienced CEOs, said: “A corporate governance agenda that promotes post-pandemic business and economic resilience will require a more in-depth look at how seriously our boards and executives consider digitisation.”

READ ALSO

$26K solar car now to roll out this year

Moon soil used to grow plants for first time in breakthrough test

“Suppose the board and the management appreciate that technology will lead to revenue growth and improved return on assets, among others, they will reset the agenda from the top and ensure that it is replicated at all levels of the organisation. It may even be necessary for the board and management to receive training,” he told the packed hall of business leaders, CEOs, members of the Diplomatic Corps and politicians from all walks of life.

Building investor confidence

Dr Sarpong said the corporate governance structure of businesses was key to building economic resistance to meet contemporary challenges. “Good corporate governance is needed to ensure the proper running of enterprises to engender investor confidence that attracts required equity and risk capital.”

“Good corporate governance ensures economic growth as micro-enterprises deliver good results. The governance structure of most businesses has been on autopilot, but now, with the COVID-19 pandemic, we cannot do business as usual,” he advised.

Dr Sarpong noted that the pandemic has revealed the importance of business to society and demonstrated the power of technology in striving to meet the needs of all stakeholders. 

According to him, it has also become increasingly clear that to run productive and profitable businesses, digital transformation is critical. “Under the current circumstances and beyond, there is no doubt that the corporate governance agenda should embrace digital transformation for businesses to achieve resilience. A vision of employing digitisation for business must be set by boards for implementation by management.”

Boards challenged

Throwing the challenge to boards, he said without mincing words that “technologically literate boards and management are a must-have for all businesses in today’s world. A board that recognises and appreciates the essence of technology will be of immense benefit to the administration of businesses. This is so because the board will understand the need to digitise the business and retrain staff to meet the needs of the contemporary technological marketplace.”

Dr Sarpong said corporate governance agenda that promotes post-pandemic business and economic resilience will require a more in-depth look at how seriously our boards and executives consider digitisation.

He added: “Suppose the board and the management appreciate that technology will lead to revenue growth and improved return on assets, among others, they will reset the agenda from the top and ensure that it is replicated at all levels of the organisation. It may even be necessary for the board and management to receive training.”

He said a board committee may also be formed to deal with digital transformation and digital innovation.

“To enhance the work of the committee and that of the board, it may also be beneficial to appoint external experts to such a committee.”

Traps to overcome

In spite of his strong call for digitisation, Dr Sarpong was also oblivious of the inherent threats saying “As we recognise the essential role of technology in business, we should be mindful of and swiftly deal with accompanying threats, such as cybercrime, terrorist activities, and intellectual property theft, among others.

“These are serious issues and threats to technological innovation to which we must be responsive,” he added.

Government digitization drive

The role played by the government to digitise the economy was not lost on him as he indicated that “as we deliberate on leading our businesses into post-pandemic resilience, we cannot ignore the monumental and commendable work done by the Government of Ghana to digitise the economy”.

According to him, the recreation of the Ministry of Communications by adding digitalization “is a pointer to the resolve and commitment of our government to ensure that our dear country is not left behind in the global technology and digital revolution”.

source:Graphiconline

Source: Graphic
Via: nownews
ShareTweetShare

Related Posts

$26K solar car now to roll out this year
Business News

$26K solar car now to roll out this year

July 5, 2022
Moon soil used to grow plants for first time in breakthrough test
National News

Moon soil used to grow plants for first time in breakthrough test

May 13, 2022
Digital technology on the cutting edge
Tech

Digital technology on the cutting edge

December 24, 2021
Apple faces two EU anti-competition probes
Tech

Apple faces two EU anti-competition probes

June 17, 2020
Amazon v EU: Has the online giant met its match?
Business News

Amazon v EU: Has the online giant met its match?

June 16, 2020
Instagram ‘will overtake Twitter as a news source’
Tech

Instagram ‘will overtake Twitter as a news source’

June 16, 2020
Next Post
Use local raw materials-Housing Minister instructs heads of SOEs

Use local raw materials-Housing Minister instructs heads of SOEs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

50% of all women in relationships have a back-up partner in mind just in case – Study finds

50% of all women in relationships have a back-up partner in mind just in case – Study finds

June 7, 2020
Ghanaians blast Archbishop Duncan Williams for holding a demonic sword – Screenshots

Ghanaians blast Archbishop Duncan Williams for holding a demonic sword – Screenshots

May 28, 2020
Burundi President Pierre Nkurunziza dies of ‘cardiac arrest’ at 55

Burundi President Pierre Nkurunziza dies of ‘cardiac arrest’ at 55

June 9, 2020
Special police operation uncovers 3 headless bodies at fetish priest’s backyard

Special police operation uncovers 3 headless bodies at fetish priest’s backyard

May 1, 2020
7 trending pre-wedding photoshoot inspiration for 2020 couples

7 trending pre-wedding photoshoot inspiration for 2020 couples

July 23, 2020

EDITOR'S PICK

Ghana embassy in Berlin resumes operations July 1

Ghana embassy in Berlin resumes operations July 1

July 1, 2020
COVID-19 kills 33 Ghanaians in New York

COVID-19 kills 33 Ghanaians in New York

May 28, 2020
Coronavirus: Demand rise, output cuts could mean oil market balance in June

Coronavirus: Demand rise, output cuts could mean oil market balance in June

May 27, 2020
Don’t draw government into ‘EC meeting controversy’ – Oppong Nkrumah to Sam George

Don’t draw government into ‘EC meeting controversy’ – Oppong Nkrumah to Sam George

April 27, 2020

About

The NowNews Media is an online independent commercial company in Ghana.
The dream started in the late 80s, when the Founder established a small pirate FM radio in the Swanlake area in North Kaneshie , popularly called ISSAFM on 88.9FM with scraps and parts of discarded radio and Tv systems, as a radio and Tv repairer.

Follow us

Categories

  • AgriBusiness
  • Banking and Finance
  • Business News
  • Entertainments
  • Florian Gray-Business PR
  • Global Health
  • Health tit-bits
  • mining
  • National News
  • Newspaper Headlines
  • Opinion
  • Sports
  • Sustainability
  • Tech
  • World

Recent Posts

  • Ghana Gas saves $3m monthly by replacing Chinese engineers-Dr Ben Asante 
  • 30 OMCs licenses revoked for non-compliance
  • Alan Kyerematen resigns as Trade Minister
  • Bank of Ghana Takes Firm Control of Currency Market.
  • About NowNewsgh.com
  • Absa determined to take the lead in sustainable Banking in Africa
  • Advertise with Us
  • All News
  • Our Terms and Conditions
  • Privacy Policy
  • Youth unemployment can be solved by Academia and industry collaboration– Economist

© 2020 Now News Ghana - All Rights Reserved

No Result
View All Result
  • Home
  • Business News
  • World
  • Sports
  • Tech
  • Sustainability
  • Ghana Book

© 2020 Now News Ghana - All Rights Reserved