Good Corporate Governance Practices Improve Economic Efficiency – Governor, Bank Of Ghana.   

Mr. Ernest Addison, Governor of the Bank of Ghana in a speech at the Eight Annual General Meeting of the Ghana Association of Savings and Loans Companies (GHASALC) on Tuesday, June 12, 2018 has stated that good corporate governance practices improves efficiency. The meeting which had the theme “Strengthening the Practice of Corporate Governance: The Role of Regulation and Practices” was held at the Holiday Inn Hotel in Accra.

According to a speech read by Mrs. Grace Akrofi, the Governor’s Special Advisor on behalf of the Governor, he mentioned that corporate governance practices are very crucial in improving economic efficiency because they help to reduce risk management and also instill discipline in decision making process at the board level.

He also added that corporate practice which is a key building block for achieving sustainable economic growth and development is currently, a topic of considerable interest and it’s also important for its publics (financial institutions) and the Bank of Ghana in its capacity as the supervisor of the banking Sector.

Mr. Addison also assured the association that as a regulator they will continue to strengthen supervision with the aim of maintaining stability in the banking sector.

Members & executives of the association graced the occasion. GHASALC is an association of all savings and loans companies which serves as a mouthpiece and a consultation body for discussions with key stakeholders in the sector. uniCredit, Opportunity International, First Allied, Gold Link, Star Microfinance and Best Point are some of the members of GHASALC.

 Deborah Asantewaa Sarfo

Microfinance Watch TV