MI CAN’T THINK FAR!
It is appropriate to blame Former President Mahama for mistakes a state agency made during his tenure but shouldn’t be commended for the Bank of Ghana Hospital which was built by another state institution under his administration??? How? Who said government has no role to play in corporate social responsibility policies and decisions of our State agencies. Corporate social responsibility began as a voluntary form of private regulation, however governments are gradually becoming more involved via its agencies. What Dr Okoe Boye said relative to the hospital’s recruitment and payment of medical staff ends the matter.
The Deputy Health Minister in an interview said his ministry and the Bank of Ghana are still in discussion on the recruitment and payment of salaries of medical personnel and other health workers going to be recruited (Either Government takes up that responsibility or the Bank of Ghana itself). Whether Government through the Ministry of Health recruit and pay them or the the Bank does it, either way, the money will come from the state’s coffers simple. Even when it comes to the Private companies, the policy making role of government is crucial for promoting corporate social responsibility between different industries at the national level. Those contributing to the covid-19 fund for instance, will enjoy certain tax benefits later. Government give these incentives to facilitate socially responsible practices. Government regulate these CSR practices through regulation of monitoring and reporting and in some jurisdictions, companies that undertake CSR initiatives are often subject to accountability measures.
So, the Bank of Ghana’s independence argument being pushed and the assertion that government played no role in the construction of the hospital is bogus.
Now, the governing body of the Bank of Ghana is the Board of Directors as stipulated in the BoG Act, 2002 (Act 612). The board consist of the Governor, who is the chairman, two deputy governors and ten non- executive directors
All projects (CSR) must receive the board’s approval. And who appoints the board? The Board is appointed by the President of the Republic of Ghana, in consultation with the Council of State. The Governor and the two deputies are appointed for a term of four years and are eligible for reappointment. The non executive directors hold office for a period of three years and are also eligible for reappointment.
The Bank of Ghana has a Human Resource, Corporate Governance and legal committee. This committee formulate policies relating to the human resource management function of the Bank and assessees their effectiveness so as to make necessary reviews when necessary.
That is the governance system of the Bank. Monies used for their projects are captured in the Bank’s budget and submitted to the strategic planning and budget committee. The committee formulates and direct the Bank’s strategic policies in the fulfilment of its objectives.
The Bank’s Independence’s clause doesn’t mean it can use state resources without following the stipulated procedure.
We would have blamed Mr Mahama and even land him in court if the Bank invested state funds as part of its CSR initiatives in useless ventures.
The same Bank of Ghana financed the construction of a multipurpose conference facility for the Department of Economics at the University of Ghana. Discussions for the project began during the time of Paa Kwesi Bekoe Amissah Arthur as Governor of BoG. Government through the Bank’s authorities approved the project and was executed. It was Paa Kwesi as Vice President and Professor Ernest Aryeetey who inaugurated the project.
The NPP communication team in the northern region, have added the two storey buildings constructed by the Central Bank for the Tamale’s premier public English/Arabic school to its list of achievements what about that. Do we know the role the former Governor of BoG Dr. Abdul Nashiru Isshaku played?
Let me repeat myself here, the Cocoa Clinic was also built by Ghana cocoa board in 1973 to provide medical treatment to staff and defendants of Ghana Cocoa Board and its subsidiaries. Today, the hospital is a full fledged medical facility catering for over 200 corporate bodies, private individuals, and health insurance scheme clients. You cannot discuss issues about the facility or narrate the facility’s history without commending Gen Acheampong and his administration under whose watch the facility was finally constricted. Cocoa clinic is not a private hospital… It is part of the state’s hospital. The state still post health workers to these institutions and pay their salaries whether they are under the Health Ministry or not.
The BoG hospital was part of a GHC 445.8 million capital expenditure commitment of the Bank to major projects including construction of a data center and its guest house. And you think the Finance Minister, the Finance Ministry, the Board appointed by the President were not consulted for their consent and approval before its disbursement? How?
INTERESTINGLY: President Akufo-Addo is taking credit for factories built private individuals added to his 1D1F initiative but adversaries of John Mahama see everything wrong with commending him for a project executed under his government with state funds. I don’t know when government became a major shareholder of the Kasapreko company.
Source: Ohenenana Obonti Krow