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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
WOMEN in Sustainability Africa (WiSA) successfully held the African Women’s Health and Wealth Conference (AWoHW) with a call for research and investment into women’s healthcare.
It also called for robust financial systems and encouraged women to generate wealth as well as prioritise their health.
The conference held at the Shippers House in Accra on March 5, was on the theme: ‘Championing Inclusive healthcare and finance systems for African women and girls.’
Speaking on behalf of Agnes Naa Momo Lartey, the Minister of Gender, Children and Social Protection, Sabia Kpekata, Programme Officer at the Ministry, said financial inclusion remains one of the most critical pathways to women’s empowerment and achieving sustainable development.
According to the minister, it is for this reason that the government continues to support initiatives that expand access to affordable credit, strengthen women-led enterprises and build financial literacy.
“Women must sit at the policy table where budgets are approved, health priorities are set, and economic policies are designed. This is why the ministry calls on all stakeholders to push for the effective implementation of the Affirmative Act,”
• Sabia Kpekata addressing the gathering
she stated.
Addressing the gathering, the Deputy Chief of Staff, Nana Oye Bampoe Addo, noted that many women suffer from mental health issues as a result of health financing, adding that, “this is why President Mahama has initiated the Accra Reset to tackle issues relating to women.”
On her part, the convener, Nana Yaa Serwaa Sarpong, explained that, “Today is not just a conference – It is a declaration. It is a declaration that African women and girls will no longer stand at the margins of systems that determine their health, their wealth, and their future.”
According to her, it is a declaration that sustainability is not a slogan for them, rather, it is a strategy, a commitment and a promise.
The Chief Executive Officer of GoldBod Jewellery, Getrude Emefa Donkor, said saving alone cannot make one financially sound, adding that investing and having other sources of income was the best way to go.
WiSA is a Coordinating Pan-African Organisation that works with other CSOs, NGOs, Corporate Institutions, local and international development organisations and individuals to bring all women, men, young people and women groups together to foster the achievement of the SDGs across Africa
By Edem Mensah-Tsotorme
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The African Women Leaders Network (AWLN) Ghana Chapter has called for stronger action to protect the rights of women and girls and promote gender equality in the country.
The call was made in a statement issued in Accra to mark International Women’s Day 2026, celebrated globally under the theme “Rights. Justice. Action. For ALL Women and Girls.”
Signed by its Chairperson, Dr Charity Binka, the statement said although progress had been made in advancing gender equality, many women and girls still faced barriers that limited their full participation in society.
It said the theme for this year’s celebration served as both a moment of reflection and a call to action for stakeholders to intensify efforts to protect the rights of women and girls.
The Network noted that Ghana had taken important steps toward gender equality, including the passage of the Affirmative Action (Gender Equity) Act aimed at increasing women’s representation and participation in decision-making.
However, the network stressed that legislation alone was not enough and called for effective implementation, public awareness and institutional accountability to ensure the law translated into real opportunities for women and girls.
It, therefore urged the full implementation of the Affirmative Action Act to increase women’s representation in governance, leadership and public life.
It called for stronger access to justice for women and girls, including protection against gender-based violence and discrimination.
The network further advocated greater investment in girls’ education, digital inclusion and economic empowerment programmes for women, particularly through support for women entrepreneurs and improved access to finance.
Meanwhile, the President of the Ghana Journalists Association (GJA), Albert Dwumfour, has paid tribute to women in the media for their dedication and professionalism.
In a message to commemorate the International Women’s Day, he commended women journalists and communication professionals for their courage in amplifying voices, telling important stories and shaping public discourse.
“To every women in journalism and the communication profession, thank you for the courage, professionalism and dedication you bring to informing our society,” he said.
Mr Dwumfour added that the contributions of women journalists continued to inspire the next generation and strengthen the media for women and girls in society, calling for sustained efforts to promote equality, respect and opportunities for women and girls in society.
By Esinam Jemima Kuatsinu
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