NBOSI | OHENE

  By  Hene Aku   Kwapong and Henry Addison O n July 19, the World Economic Forum was sued by an employee for workplace discrimination and intolerance that made it difficult for some employees to advance in their careers because of the forum’s prevailing work environment. This came after  the Wall Street had reported that the institution has allowed to fester an atmosphere hostile to women and black people, with some alleging sexual harassment, pregnancy-related discrimination and racial discrimination.  This is a problem that cannot happen except in an environment of weak oversight or one, where certain practices are allowed to become prevalent because of a void in institutional courage on the part of the board and management.  The World Economic Forum is now facing a major governance crisis that has resulted in a full-fledged investigation by an independent external entity.    Collectively we sit on boards in Denmark, Australia, US, Ghana and UK, but interestingly we do come across ma

There is a general consensus that Ghana as a country is either heading in the wrong direction or getting just plain messed up.  Power crises and the persistent power outages that we thought belonged to decades gone are back, blatant corruption now are back with new schemes of supposed debt judgments, and the leaders we have are neither able to articulate a path forward nor deliver solutions that inspire confidence. Unfortunately, these perceptions have not just been with the current government but also with previous ones. My advice to the President of Ghana, if I had an opportunity to advise him today, will be to have the courage to reshuffle the cabinet and bring in Ghanaians, regardless of political affiliation, with substantial, relevant experience that will benefit him and his government. “Magnanimity does indeed accrue greatness to leadership"- our history of entrusting decision-making responsibilities to folks without relevant experience is destroying the country.  This is

Blog Post  by  John Campbell Quartz Africa published a thought-provoking article by Lynsey Chutel titled “ The Mystery of Africa’s Disappearing Presidents .” Her take-off point is Malawi’s President Peter Mutharika, who went to New York for the United Nations General Assembly (UNGA) in mid-September and returned home only on October 16. His entourage refused to provide any itinerary. She cites other African leaders who take long ‘vacations’ or otherwise disappear from their countries for long periods of time: Cameroon’s President Paul Biya once spent three weeks in La Baule, France, at a cost of $40,000 per day and later spent two months at the Hotel Intercontinental in Geneva. With respect to the La Baule stay, his spokesman said, “Like any other worker, President Paul Biya has a right to his vacations.” Other African heads of state disappear for “medical reasons.” Because of the general lack of transparency, absence for medical reasons leads to speculation that the president in quest

We have heard from Parliament, we have heard from former president Mahama, and we have heard from the President.  What we have right now is a Byzantine Generals problem, where half the generals want one course of action and the other half want an opposite course but the people in the castle under siege do not know who wants what.  The way you solve the Byzantine Generals problem is to agree on the rules, commit to transparency for all, and establish consensus. We all have families, and we can all identify with what happens when you extend your family’s expenses and must go to borrow money from neighbors or a bank. There is nothing wrong with borrowing to invest. However, when you are at a point when you are living beyond your means and spending a major part of your earnings on interest payments and living from day to day, then you know you have managed your affairs poorly. When the heatwave comes, that will be the day your air conditioner malfunctions, and you find out how badly you ha

So, you want to build an empire? How do you grow your business to multiples of 10 of your one year revenue? From $10million (GHS 40million) to $100million, to $500million and ultimately to a billion dollar company, enough to transform a sector of Ghana's economy?, to a size that creates sustainable wealth for your shareholders and other stakeholders?  Today, Ghana as a country has no domestic multi-billion dollar companies that dominate any industry and that is a problem that ultimately means wealth-creation will continue to be severely restricted.  For chief executives and senior management,  the challenge of figuring out how to grow your business is further exacerbated by the throng of people with little or no experience in business going into politics and in the process becoming a further hindrance when they are not able to formulate supportive regulations and tax regimes. The fact is a lot of domestic family-owned businesses will not be around 10 years from hence as more we