Strengthening Governance: Board-level Ethics Training Held For Bank Directors

Participants at the Board-Level Training for Directors workshop.
Participants at the Board-Level Training for Directors workshop.

The Ghana Association of Banks (GAB) on 14th April 2026 organized a high-level Board Training Session on Ethics for Directors of member banks, as part of ongoing efforts to promote governance standards and deepen ethical leadership across Ghana’s banking industry.

Held at the Alisa Hotel in Accra, the training convened bank directors and industry leaders to explore critical dimensions of ethical oversight and corporate governance at the board level.

In his welcome address, the Chief Executive Officer of GAB, Mr. John Awuah, emphasized the importance of strong ethical foundations in sustaining trust, stability, and resilience within the financial system. He noted that effective board leadership must be anchored in integrity, accountability, and a clear commitment to sound governance practices. Mr. Awuah also emphasised the role of ethical leadership in setting the “tone at the top.”

CEO of the Ghana Association of Banks, Mr. John Awuah delivering his opening remarks
CEO of the Ghana Association of Banks, Mr. John Awuah delivering his opening remarks

The training programme, facilitated by PwC, was structured around three core thematic areas. The first session examined the foundation of ethics in banking, focusing on the role of ethics as a core pillar of banking, underscoring its impact on public confidence, institutional reputation, and long-term sustainability. Directors were also taken through their fiduciary duties, including responsibilities relating to care, loyalty, good faith, and confidentiality.

Lydia Pwadura, Partner PWC, delivering her keynote address
Lydia Pwadura, Partner PWC, delivering her keynote address

The second session addressed corporate governance oversight, highlighting the Board’s role in promoting an ethical culture and strengthening accountability frameworks. Emphasis was placed on effective oversight of Audit, Risk, and Compliance functions, as well as the need for timely escalation of control weaknesses and ethical breaches.

Mary Kwarteng Darko, Associate Director, PWC, facilitating the first training session.
Mary Kwarteng Darko, Associate Director, PWC, facilitating the first training session.

Discussions during the session brought further clarity to practical governance expectations. Participants emphasised that internal audit findings should be escalated promptly and directly to the Board, noting that any delays or breakdowns in reporting lines could allow emerging risks to develop into significant incidents. There was also discussion around director participation and governance structures, including the use of alternate directors, with emphasis on strict regulatory vetting and approval requirements.

Mr. Albert Essien, Board Chairman of Development Bank Ghana sharing his insights
Mr. Albert Essien, Board Chairman of Development Bank Ghana sharing his insights

Participants also highlighted structural and behavioural risks that can weaken board effectiveness, particularly the influence of dominant managing directors or controlling shareholders, which may limit independent judgement and open deliberation. This, they noted, reinforces the need for strong checks and balances and clearly defined governance boundaries.

The final session focused on conflict of interest. The session addressed the identification and management of actual, potential, and perceived conflicts. Key issues discussed included disclosure obligations, recusal practices, insider lending, and related-party transactions, in line with regulatory requirements.

Michael Klobodu, Senior Manager, PWC, facilitating the last training session.
Michael Klobodu, Senior Manager, PWC, facilitating the last training session.

Beyond the technical aspects, participants explored broader governance realities within the operating environment. It was observed that cultural factors such as deference to authority, personal relationships, and reluctance to challenge peers can inhibit open discussion and effective decision-making in boardrooms. In this context, the importance of fostering a culture where directors are empowered to speak up and act independently was strongly emphasised.

Chief Alhassan Andani, Board Chair of Ecobank Ghana, sharing his insights
Chief Alhassan Andani, Board Chair of Ecobank Ghana, sharing his insights

Participants further noted that groupthink and collusion remain key risks, as even well-established controls can be undermined where individuals act collectively without sufficient challenge. The need to strengthen individual ethical responsibility and professional courage in decision-making was therefore underscored.

The discussions also touched on wider systemic considerations, including perceived conflicts within the broader financial ecosystem and the importance of maintaining clear institutional independence and regulatory consistency. Participants called for continued industry dialogue to address these complexities and further strengthen governance outcomes across the sector.

Collins Boamah, Head of Regulatory, Ethics, Forensics and Special Duties, GAB, moderating the training session
Collins Boamah, Head of Regulatory, Ethics, Forensics and Special Duties, GAB, moderating the training session.

The interactive format of the programme, including a dedicated Q&A segment, enabled participants to engage deeply with the subject matter and share perspectives on emerging governance challenges within the banking sector.

Kwamina Asomaning, President of GAB & MD of Stanbic Bank Ghana, sharing his insights .
Kwamina Asomaning, President of GAB & MD of Stanbic Bank Ghana, sharing his insights.

GAB remains committed to strengthening integrity and sound governance across the banking sector. This event forms part of a broader industry-wide fraud awareness initiative, recognising the need to curb fraud by setting the right tone at the top and reinforcing ethical conduct and strong corporate governance practices.