1. Separation of roles: The UK Corporate Governance Code recommends separating the roles of chairman and CEO to avoid concentration of power. GGOH should ensure these roles are held by different individuals.
2. Chairman’s independence: If the chairman is independent and non-executive, it enhances the board’s objectivity. GGOH should consider appointing an independent chairman.
3. No unfettered powers: No individual should have unchecked decision-making authority. GGOH should ensure that all major decisions are made collectively by the board.
4. Board effectiveness: The Ghana Code emphasizes that the chairman should ensure the board is in full control of the company’s affairs. Regular and well-structured board meetings will improve governance.
5. Accountability and transparency: GGOH should implement mechanisms that ensure transparency in decision-making and reporting, which aligns with both codes’ focus on accountability.
6. Performance evaluation: GGOH should conduct regular evaluations of board members’ performance to ensure the board is effective, which is a recommendation in both governance codes.
7. Directors’ remuneration: The Ghana Code states that remuneration should reflect the directors’ responsibilities and experience. GGOH should adopt a fair and structured remuneration system to avoid conflicts.
8. Training and development: GGOH should provide continuous professional development for board members to ensure they are up-to-date with governance best practices.

(2 marks for each point, up to 5 points = 10 marks)