Upper East Chapter of Rural and Community Banks have organized a corporate governance training workshop for Directors and management of Rural and community banks in the Region. The training workshop which was organized at the Regional Capital Bolgatanga on Thursday October 29, 2020, was to give directors the opportunity to know their roles and responsibilities better for efficient rural banking delivery.
Engaging the media after the training workshop, Upper East Chapter Chairman of Rural and Community Banks Cletus Azaabi said they realized that the banking crisis came as a result of the inefficiencies which includes corporate governance and there is a need for directors and managers of various banks to know and understands their roles accordingly to avoid some of the inefficiencies which had already cursed some other banks in recent times.
“We realized that the banking crisis came as a result of the inefficiencies including corporate governance. Fortunately in the Upper East Region, they are working very well, they have met all the requirements by the Bank of Ghana and all the indicators are good but, we don’t want to take things for granted. So we are organizing this training workshop mainly to take our directors through the best corporate governance practices and also the new directors that were appointed, we want them to know their role, their duties and their responsibilities and to expose them to the law ACT 930 and the company law that regulates the way companies operates in Ghana. So basically, what we are doing here is to give directors the opportunity to explore and ask questions regarding the roles they are holding in various banks.”He explained
The general manager of Naara Rural Bank Samuel Namoo who spoke to the media was very satisfied that no bank in the region fall victim of bad corporate governance as he believes, the training workshop will go a long way in shaping their activities in various work places across the region.
“None of the banks is suffering from the corporate governance issue and this is going to be an added advantage to us, it will enable us practice more corporate governance at our respective places”
However, Manager, Legal Services ARB APEX Bnak Ltd Samuel Terkpertey said the issue of corporate governance is quite key and recently with the revocation of certain bank licenses, it has become even far more important.
“In practice, we have identified that one of the key courses of the collapse of any company in the world is bad corporate governance practices and in the rural and community banking sector, we at APEX needs to ensure that we have educated our members effectively on how to put in the correct structures and comply with them, to ensure that it did not bridge any of the required provision on corporate governance. So this training is extremely important for directors and the general managers of the various banks in the Upper East Region.” He said
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