The Ghana Association of Banks (GAB) has conducted a dedicated ethics training programme for directors of its member banks in Accra, targeting governance at the highest level as the sector faces sustained pressure to address fraud and strengthen boardroom accountability.
The session, delivered by PricewaterhouseCoopers (PwC), focused on ethics in banking with emphasis on the responsibilities of directors, the management of conflicts of interest, and the tone boards set for institutional culture. Participants were taken through evolving governance expectations and the role of directors in embedding principled decision-making from the top down.
GAB said the programme forms part of ongoing efforts to promote good corporate governance and reinforce internal controls across member institutions. The Association indicated that strengthening ethical standards at board level is central to maintaining public confidence and ensuring long-term stability in the sector.
The initiative comes against a backdrop of growing regulatory concern over fraud in Ghana’s banking system. The Bank of Ghana’s (BoG) 2024 Fraud Report recorded a five percent rise in reported fraud cases, with total value at risk climbing 13 percent to GH¢99 million. Staff-related fraud, document forgery and identity theft were identified as significant contributors.
Targeting directors specifically reflects a recognition that lasting cultural change requires commitment from the top. The discussions during the training underscored the critical influence boards wield in shaping compliance behaviour and organisational integrity throughout their institutions.
The training aligns with sector-wide reforms already under way. The Chartered Institute of Bankers, Ghana (CIB Ghana), working alongside BoG and GAB, has developed the Ghana Banking Code of Ethics and Business Conduct and is advancing a mandatory ethics certification programme for all banking personnel, including board members, which the central bank has approved in principle as part of its fit-and-proper assessment criteria.
