GAB Urges Depositors to Use Corporate Governance Disclosures to Assess Banks
Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, has urged depositors to utilise the Corporate Governance Directive Disclosure framework to gain deeper insights into the operations and financial health of their banks.
Speaking at the Ghana Institute of Management and Public Administration (GIMPA) Law School Corporate Governance Series, Mr Awuah said annual reports, particularly corporate governance sections, provide valuable information on how key decisions are made and the accountability of bank boards.
“You don’t have to be a specialist in the scheme of things, and you will find out a whole lot of things, including the financial strength and viability that you are looking for,” he noted.
The 2026 series, themed “Bank Corporate Governance and Financial Stability: The Role of Bank Boards,” aims to foster legal and ethical leadership across the corporate, financial, and public sectors. Mr Awuah advised depositors unfamiliar with financial statements to seek guidance from banking experts when analysing data or evaluating investment options.
He highlighted that compliance with Bank of Ghana (BoG) directives has transformed corporate governance from an internal compliance exercise into a measurable, auditable system through mandatory disclosures. Bank boards are now expected to undergo corporate governance certification, enhancing their capacity to respond to emerging risks such as cybercrime.
“We are not only preaching corporate governance as a compliance activity; it should be in the DNA of the board,” he said.
Supporting the call, Ismail Adam, Head of Banking Supervision at the BoG, said structured engagement channels between banks and the Central Bank have strengthened governance, risk management, and oversight functions, contributing to financial stability.
Meanwhile, Sina Kamagate, Executive Head of Retail Banking at GCB Bank Plc, recommended reviewing board remuneration structures to better align pay with expertise and independence.
