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31.03.2008 Business & Finance

Ghana's Most Respected Company And CEO Awards 2007 Held

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Minister for Information and National Orientation, Mrs Oboshie Sai Cofie, yesterday called on corporate institutions to partner government to rid the country of corrupt practices that retarded the country's progress.
She said while government was making efforts to strengthen anti-corruption agencies and had passed laws to deal with the menace, the active involvement of leadership of companies
would go a long way to support such efforts.
Mrs Sai Cofie was speaking at the maiden awards night of Ghana's Most Respected Company and CEO Awards 2007 in Accra. The awards were instituted by PriceWaterHouseCoopers, an
accounting firm, in collaboration with Business and Financial Times newspaper to motivate companies and Chief Executives who had performed creditably in areas of good corporate
governance practice, leadership style, social responsibility and excellent business culture among others.
Winners of the awards were nominated by their colleagues CEOs.  Mrs Sai Cofie lauded the initiative and urged the CEOs and companies not to be motivated by profit alone but also ensure that stakeholders get satisfaction.
She said Government was willing to support initiatives that would enhance transparency and accountability in management.
Mr Albert Essien, Executive Director, ECOBANK Transnational Incorporated, who was the guest speaker, said good corporate governance went beyond the mere compliance with regulatory and legal requirements.
It involves fairness, transparency, provision of sufficient information and balancing the profit motive and the rights of other stakeholders.
Mr Essien said for effective governance, there was the need for a change in attitude and practice while at the same time problems such as the poor regulatory environment, weak legal
system and corruption must be resolved.
Mr Charles Egan, Country Leader, PriceWaterHouseCoopers, said the awards were instituted to promote healthy competition and to address corporate governance issues.  Ten companies were awarded with Databank, a financial services company, emerging as the overall winner of Ghana's
Most Respected Company 2007.
Mr Prince Kofi Amoabeng, CEO of Unique Trust Financial Services, was adjudged by his peers as Ghana's Most Respected CEO 2007.

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