OWNERSHIP
As at the end of December, 2014 Bank of Ghana owned 70% of Central Securities Depository (GH) Ltd whilst Ghana Stock Exchange owned 30%.
GOVERNANCE STRUCTURE
CSD (GH) has a seven-member Board of Directors appointed by the two shareholders, BoG and GSE, and taking due cognizance of their background. Board meetings are generally held quarterly, but there is a provision for extraordinary meetings when the need arises. The Board has four committees, comprising the following: Finance and Audit Committee; Business Conduct Committee; Human Resource and Legal Committee; and Risk Committee. The Risk Committee meets at least once every quarter, while the other committees meet at least twice a year. The business operations of the Board and its Board committees are governed by a Board Charter. The Board is responsible for reviewing and approving policies for implementation by the Executive Management team.
The Executive Management team comprises the Chief Executive Officer and the Deputy Chief Executive Officer, and it is accountable to the Board of Directors. For effective supervision and discharge of the daily activities of the depository, the Executive Management is assisted by four Departments― Finance and Administration Department, IT Department, Operations Department, and Economic and Risk Analysis (ERA) Department. The Heads of the Departments report directly to the Executive Management. The depository also has an Internal Auditor who is responsible for auditing all procedures and controls, and reports to the Board. Finally, the depository has a Legal Officer responsible for providing legal services and advice to the company, and also doubles as the Secretary to the Board.
