Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment

This report assesses Ghana's corporate governance policy framework, enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in...

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Bibliographic Details
Main Author: World Bank
Format: Corporate Governance Assessment (ROSC)
Language:English
en_US
Published: Washington, DC 2012
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2005/05/6732815/ghana-report-observance-standards-codes-rosc-corporate-governance-country-assessment
http://hdl.handle.net/10986/8470
id okr-10986-8470
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCESS TO INFORMATION
ACCOUNTABILITY
ACCOUNTING STANDARDS
ACQUISITIONS
ALTERNATIVE DISPUTE RESOLUTION
AUDIT COMMITTEE
AUDIT COMMITTEES
AUDITOR INDEPENDENCE
AUTHORITY
BANKS
BENEFICIAL OWNER
BENEFICIAL OWNERS
BOARD MEETINGS
BUSINESS LAW
CAPITAL MARKETS
CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE
CO-OPERATIVES
COLLECTIVE
COMMERCIAL BANK
COMMERCIAL BANKS
COMMON LAW
COMMON LAW SYSTEM
COMPANIES ACT
COMPANY
COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
CONFLICTS OF INTEREST
CONFLICTS OF INTERESTS
CONTROLLING SHAREHOLDERS
CORPORATE BODY
CORPORATE DISPUTE
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE PRINCIPLES
CORPORATE GOVERNANCE REFORMS
CORPORATE GOVERNANCE STANDARD
CORPORATE SECURITIES
CORPORATION
CORPORATIONS
CORPORATIZATION
CORRUPTION
COURT SYSTEM
DECREE
DEMOCRATIC DEVELOPMENT
DISCRIMINATION
DISPUTE RESOLUTION
DUE DILIGENCE
DUTY OF CARE
ECONOMIC DEVELOPMENT
ECONOMIC PERFORMANCE
ENFORCEMENT POWERS
ETHICAL STANDARDS
EXCHANGE COMMISSION
EXPANSION
FAMILY FIRMS
FIDUCIARY DUTIES
FINANCIAL CRISES
FINANCIAL DISCLOSURES
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FINANCIAL SERVICES
FOREIGN INVESTORS
FULL DISCLOSURE
GOOD CORPORATE GOVERNANCE
GOVERNANCE ENVIRONMENT
GOVERNANCE ISSUES
INCOME
INCORPORATED
INDEPENDENT AUDIT
INDEPENDENT DIRECTORS
INDIVIDUALS
INFORMAL SECTOR
INSIDER TRADING
INSOLVENCY
INSTITUTIONAL CAPACITY
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTOR
INSTITUTIONAL INVESTORS
INSTITUTIONAL SHAREHOLDERS
INVESTOR PROTECTION
JUDICIAL BODIES
LARGE COMPANIES
LEGAL FRAMEWORK
LEGAL SYSTEM
LEGISLATION
LIMITED
LIMITED LIABILITY
LIQUIDATION
LISTED COMPANIES
MAJORITY SHAREHOLDERS
MARKET INSTITUTIONS
MERCHANT BANK
MERGER
MERGERS
MICROENTERPRISES
MINISTRY OF FINANCE
MINORITY SHAREHOLDERS
MULTINATIONAL COMPANIES
OWNERSHIP CONCENTRATION
PARLIAMENT
PARTNERSHIP
PERSONS
PRIVATE COMPANIES
PRIVATE ENTERPRISE
PROPERTY RIGHTS
PUBLIC COMPANIES
PUBLIC FIRMS
PUBLIC OFFERINGS
PUBLIC POLICY
PUBLIC SECTOR
REGULATORY AUTHORITIES
REGULATORY FRAMEWORK
REGULATORY REQUIREMENTS
REORGANIZATIONS
RIGHTS OF SHAREHOLDERS
RULE OF LAW
SECURITIES LAW
SECURITIES LAWS
SECURITIES REGULATOR
SHARE CAPITAL
SHAREHOLDER
SHAREHOLDER RIGHTS
SOCIETIES
SOCIETY
STAKEHOLDER
STAKEHOLDERS
STATE ENTERPRISE
STATE ENTERPRISES
STATE OWNERSHIP
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
STOCK EXCHANGES
STOCK MARKET
SUBSIDIARIES
SUBSIDIARY
TAKEOVERS
TRANSPARENCY
TRUSTS
VOTING
spellingShingle ACCESS TO INFORMATION
ACCOUNTABILITY
ACCOUNTING STANDARDS
ACQUISITIONS
ALTERNATIVE DISPUTE RESOLUTION
AUDIT COMMITTEE
AUDIT COMMITTEES
AUDITOR INDEPENDENCE
AUTHORITY
BANKS
BENEFICIAL OWNER
BENEFICIAL OWNERS
BOARD MEETINGS
BUSINESS LAW
CAPITAL MARKETS
CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE
CO-OPERATIVES
COLLECTIVE
COMMERCIAL BANK
COMMERCIAL BANKS
COMMON LAW
COMMON LAW SYSTEM
COMPANIES ACT
COMPANY
COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
CONFLICTS OF INTEREST
CONFLICTS OF INTERESTS
CONTROLLING SHAREHOLDERS
CORPORATE BODY
CORPORATE DISPUTE
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE PRINCIPLES
CORPORATE GOVERNANCE REFORMS
CORPORATE GOVERNANCE STANDARD
CORPORATE SECURITIES
CORPORATION
CORPORATIONS
CORPORATIZATION
CORRUPTION
COURT SYSTEM
DECREE
DEMOCRATIC DEVELOPMENT
DISCRIMINATION
DISPUTE RESOLUTION
DUE DILIGENCE
DUTY OF CARE
ECONOMIC DEVELOPMENT
ECONOMIC PERFORMANCE
ENFORCEMENT POWERS
ETHICAL STANDARDS
EXCHANGE COMMISSION
EXPANSION
FAMILY FIRMS
FIDUCIARY DUTIES
FINANCIAL CRISES
FINANCIAL DISCLOSURES
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FINANCIAL SERVICES
FOREIGN INVESTORS
FULL DISCLOSURE
GOOD CORPORATE GOVERNANCE
GOVERNANCE ENVIRONMENT
GOVERNANCE ISSUES
INCOME
INCORPORATED
INDEPENDENT AUDIT
INDEPENDENT DIRECTORS
INDIVIDUALS
INFORMAL SECTOR
INSIDER TRADING
INSOLVENCY
INSTITUTIONAL CAPACITY
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTOR
INSTITUTIONAL INVESTORS
INSTITUTIONAL SHAREHOLDERS
INVESTOR PROTECTION
JUDICIAL BODIES
LARGE COMPANIES
LEGAL FRAMEWORK
LEGAL SYSTEM
LEGISLATION
LIMITED
LIMITED LIABILITY
LIQUIDATION
LISTED COMPANIES
MAJORITY SHAREHOLDERS
MARKET INSTITUTIONS
MERCHANT BANK
MERGER
MERGERS
MICROENTERPRISES
MINISTRY OF FINANCE
MINORITY SHAREHOLDERS
MULTINATIONAL COMPANIES
OWNERSHIP CONCENTRATION
PARLIAMENT
PARTNERSHIP
PERSONS
PRIVATE COMPANIES
PRIVATE ENTERPRISE
PROPERTY RIGHTS
PUBLIC COMPANIES
PUBLIC FIRMS
PUBLIC OFFERINGS
PUBLIC POLICY
PUBLIC SECTOR
REGULATORY AUTHORITIES
REGULATORY FRAMEWORK
REGULATORY REQUIREMENTS
REORGANIZATIONS
RIGHTS OF SHAREHOLDERS
RULE OF LAW
SECURITIES LAW
SECURITIES LAWS
SECURITIES REGULATOR
SHARE CAPITAL
SHAREHOLDER
SHAREHOLDER RIGHTS
SOCIETIES
SOCIETY
STAKEHOLDER
STAKEHOLDERS
STATE ENTERPRISE
STATE ENTERPRISES
STATE OWNERSHIP
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
STOCK EXCHANGES
STOCK MARKET
SUBSIDIARIES
SUBSIDIARY
TAKEOVERS
TRANSPARENCY
TRUSTS
VOTING
World Bank
Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
geographic_facet Africa
West Africa
Sub-Saharan Africa
Ghana
relation Report on the Observance of Standards and Codes (ROSC);
description This report assesses Ghana's corporate governance policy framework, enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ghana. Ghana is a promising capital market with remarkable recent performance, significant momentum and will for improvement. Continuing challenges are presented however, by its weak institutional base and capacity, as well as by persistent gaps in enforcement. The report identifies several key next steps that focus on implementation, including: 1. A concentrated effort to raise awareness of corporate governance, transparency and accountability. The effort should include director training, possibly with Securities and Exchange Commission (SEC) certification requirements. 2. An overhaul of the institutional framework and capacity, including training, resources, and effectiveness. Particular focus should be directed at promoting the new specialized commercial court, and private arbitration; developing a central depository system for equities; creating an effective companies registry; and improving enforcement of accounting and auditing. 3. Continued legislative review and modernization. 4. An improvement of SEC resources and training would enable it to focus on rule-making and enforcement of disclosure quality, related party transactions, insider trading, ownership disclosure (especially by directors and insiders), management of conflicts of interest among market operators, and shareholder redress. Improved electronic market surveillance by the Ghana Stock Exchange will assist with this ambitious agenda. These measures will help develop Ghana's capital markets, attract investors, and promote best practice of investor protection.
format Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author World Bank
author_facet World Bank
author_sort World Bank
title Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_short Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_full Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_fullStr Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_full_unstemmed Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_sort ghana : report on the observance of standards and codes (rosc), corporate governance country assessment
publisher Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2005/05/6732815/ghana-report-observance-standards-codes-rosc-corporate-governance-country-assessment
http://hdl.handle.net/10986/8470
_version_ 1764405483944280064
spelling okr-10986-84702021-04-23T14:02:39Z Ghana : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment World Bank ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING STANDARDS ACQUISITIONS ALTERNATIVE DISPUTE RESOLUTION AUDIT COMMITTEE AUDIT COMMITTEES AUDITOR INDEPENDENCE AUTHORITY BANKS BENEFICIAL OWNER BENEFICIAL OWNERS BOARD MEETINGS BUSINESS LAW CAPITAL MARKETS CHARTERED ACCOUNTANTS CHIEF EXECUTIVE CO-OPERATIVES COLLECTIVE COMMERCIAL BANK COMMERCIAL BANKS COMMON LAW COMMON LAW SYSTEM COMPANIES ACT COMPANY COMPANY LIMITED COMPANY LIMITED BY GUARANTEE CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONTROLLING SHAREHOLDERS CORPORATE BODY CORPORATE DISPUTE CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARD CORPORATE SECURITIES CORPORATION CORPORATIONS CORPORATIZATION CORRUPTION COURT SYSTEM DECREE DEMOCRATIC DEVELOPMENT DISCRIMINATION DISPUTE RESOLUTION DUE DILIGENCE DUTY OF CARE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE ENFORCEMENT POWERS ETHICAL STANDARDS EXCHANGE COMMISSION EXPANSION FAMILY FIRMS FIDUCIARY DUTIES FINANCIAL CRISES FINANCIAL DISCLOSURES FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN INVESTORS FULL DISCLOSURE GOOD CORPORATE GOVERNANCE GOVERNANCE ENVIRONMENT GOVERNANCE ISSUES INCOME INCORPORATED INDEPENDENT AUDIT INDEPENDENT DIRECTORS INDIVIDUALS INFORMAL SECTOR INSIDER TRADING INSOLVENCY INSTITUTIONAL CAPACITY INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTITUTIONAL SHAREHOLDERS INVESTOR PROTECTION JUDICIAL BODIES LARGE COMPANIES LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LIMITED LIMITED LIABILITY LIQUIDATION LISTED COMPANIES MAJORITY SHAREHOLDERS MARKET INSTITUTIONS MERCHANT BANK MERGER MERGERS MICROENTERPRISES MINISTRY OF FINANCE MINORITY SHAREHOLDERS MULTINATIONAL COMPANIES OWNERSHIP CONCENTRATION PARLIAMENT PARTNERSHIP PERSONS PRIVATE COMPANIES PRIVATE ENTERPRISE PROPERTY RIGHTS PUBLIC COMPANIES PUBLIC FIRMS PUBLIC OFFERINGS PUBLIC POLICY PUBLIC SECTOR REGULATORY AUTHORITIES REGULATORY FRAMEWORK REGULATORY REQUIREMENTS REORGANIZATIONS RIGHTS OF SHAREHOLDERS RULE OF LAW SECURITIES LAW SECURITIES LAWS SECURITIES REGULATOR SHARE CAPITAL SHAREHOLDER SHAREHOLDER RIGHTS SOCIETIES SOCIETY STAKEHOLDER STAKEHOLDERS STATE ENTERPRISE STATE ENTERPRISES STATE OWNERSHIP STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUBSIDIARIES SUBSIDIARY TAKEOVERS TRANSPARENCY TRUSTS VOTING This report assesses Ghana's corporate governance policy framework, enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ghana. Ghana is a promising capital market with remarkable recent performance, significant momentum and will for improvement. Continuing challenges are presented however, by its weak institutional base and capacity, as well as by persistent gaps in enforcement. The report identifies several key next steps that focus on implementation, including: 1. A concentrated effort to raise awareness of corporate governance, transparency and accountability. The effort should include director training, possibly with Securities and Exchange Commission (SEC) certification requirements. 2. An overhaul of the institutional framework and capacity, including training, resources, and effectiveness. Particular focus should be directed at promoting the new specialized commercial court, and private arbitration; developing a central depository system for equities; creating an effective companies registry; and improving enforcement of accounting and auditing. 3. Continued legislative review and modernization. 4. An improvement of SEC resources and training would enable it to focus on rule-making and enforcement of disclosure quality, related party transactions, insider trading, ownership disclosure (especially by directors and insiders), management of conflicts of interest among market operators, and shareholder redress. Improved electronic market surveillance by the Ghana Stock Exchange will assist with this ambitious agenda. These measures will help develop Ghana's capital markets, attract investors, and promote best practice of investor protection. 2012-06-19T19:46:47Z 2012-06-19T19:46:47Z 2005-05 http://documents.worldbank.org/curated/en/2005/05/6732815/ghana-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8470 English en_US Report on the Observance of Standards and Codes (ROSC); CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work Africa West Africa Sub-Saharan Africa Ghana