The Guidelines of Corporate Governance of Ghana: Issues, Deficiencies and Suggestions

Otuo Serebour Agyemang, Monia Castellini


The worldwide mushrooming of codes of corporate governance has resulted in a formalisation of rules and
norms. These rules and norms have undeniably been proven to be important constituents in shaping the present
corporate governance structures across the globe. The 2010 Code of best practices for corporate governance
issued by the Securities and Exchange Commission of Ghana is an archetypical of such codes. It is irrefutably
the most encyclopaedic guideline for good corporate governance practices presently in Ghana. It contains
overarching provisions for effective corporate governance practices in Ghana. This paper presents a painstaking
review of the code. It first examines key properties of the code. Next, the main deficiencies of the code are
illuminated by examining the provisions that lack clarity. Also, other unqualified derelictions, substandard
provisions and common gaffes in the code are highlighted. It then makes suggestions with the idea that they
would be taken into consideration if future remediation of the code is to be undertaken.

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International Business Research  ISSN 1913-9004 (Print), ISSN 1913-9012 (Online)

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