IOD calls for more investment in digital infrastructure

The Institute of Directors Ghana (IoD Gh) has called for the improvement of digital infrastructure to enable the corporate environment to survive the current pandemic's toll on human activity.

Mr Rockson Dogbegah, President of the Institute who made the call during an induction ceremony held online for April 2020 cohorts, said the coronavirus got the world clinging tightly to digital platforms, and that the structures must be reviewed and prepared for the times.

"Extra investment in digital infrastructure cannot be avoided. We may have to relook at our budget lines and pay a lot of attention to improving our digital infrastructure. I believe strongly that the use of the digital platform will become a new normal", he said.

Mr Dogbegah said the pandemic had driven directors and corporate heads to bend their creativity towards ensuring the sustainability of businesses and requires them to most importantly exhibit the right leadership to inspire hope and success.

"Even though it has brought a huge negative impact on our health and socio-economic lives, it has also forced us to start thinking creatively and innovatively to ensure business continuity. This is where as Directors we are most needed. We must try to offer the appropriate ethical and effective leadership that inspires hope and confidence to ensure business continuity and success", he said.

"It is my considered opinion that to be a winner one must reorient oneself and be creative, innovative and get a stronghold on your strategy", he stated.

The President asked directors to maneuver around challenges to corporate activities caused by the pandemic through trustworthy correspondence with stakeholders.

"There will be a trust deficit amongst stakeholders due to the mega disruptions caused by the pandemic which has halted productivity across value chains which may make it impossible to meet some of your obligations. This calls for sincere open conversation with all stakeholders.

"In all of these, we will expect that you show true ethical and effective leadership", he said, reminding them to also consider as paramount, the health and safety of work personnel.

Mr Fred Aryeetey, Chief Executive Officer of the Institute encouraged all the new members to patronize the Institute's virtual platform.

A total of 37 members were inducted, having been undertaken online orientation on corporate governance.