Abstract:
We highlight considerable important aspects of the proposed 2010
Security and Exchange Commission (SEC) Code of Ghana and compare them
with UK Corporate Governance Codes. Comparisons are undertaken on their
respective definitions of corporate governance, compliance and enforcement,
board structure and composition and key board committees. Initial findings
suggest that both the 2010 SEC of Ghana and UK Codes are voluntary in nature
and principally business induced. However, we recommend a more highly
regulated business environment in Ghana to enhance corporate governance
practices through effective compliance and enforcement. As several Ghanaian
firms are characterised by large shareholders who painstakingly influence both
the appointments of chief executive officer and board members, enhancements
in corporate governance practices in Ghana are vitally important to safeguard
the rights of minority shareholders, infuse confidence in investors and
compliance with socio-economic goals of Ghana.
