Ghanaian businesses must embed enterprise risk management (ERM) into their operations if they are to withstand uncertainty, attract investor confidence, and seize new growth opportunities, experts have warned.
Dr. Adu Anane Antwi, Board Chair of the Securities and Exchange Commission (SEC), said ERM must move from being a box-ticking compliance exercise to a strategic driver of sustainability, resilience, and competitiveness in Ghana’s evolving economy.
He made the call at a stakeholder symposium in Accra, organised by the Office of the Registrar of Companies (ORC), on the theme: “Resetting the Business Environment: The Role of Enterprise Risk Management.”
Dr. Antwi said enterprise risk management goes beyond traditional, siloed approaches. It offers businesses a holistic framework to identify, assess, and manage risks and opportunities. It is not just about avoiding failure but about building forward-thinking, adaptable organisations.
He warned that weak governance structures, poor oversight, and sustainability gaps had led to substandard service delivery and financial mismanagement in many firms, undermining accountability and investor trust.
Citing the Allianz Risk Barometer 2025 survey, Dr. Antwi noted that cyber incidents and business interruptions remain among the most pressing threats globally, urging Ghanaian firms to strengthen resilience against economic downturns, natural disasters, and global competition.
He explained that embedding ERM would enable businesses to align risk appetite with strategic objectives, optimise resources, and enhance business continuity.
Dr. Antwi further called on companies to cultivate risk-aware cultures, adopt technology such as artificial intelligence in risk frameworks, and gradually move up the risk maturity ladder.
Mr. David Kudoadzi, Chair of the ORC Governing Board, underscored that ERM must be viewed as a shared responsibility for businesses, regulators, and society not the preserve of compliance officers.
“ERM is about more than minimising losses; it is about building resilience, trust, and confidence in Ghana’s economy,” he said.
He pointed out that despite reforms in business registration, corporate governance, and insolvency laws, Ghana’s gains remain vulnerable to global shocks, climate risks, and technological disruptions.
“The question is no longer whether risks will arise, but how prepared we are to manage them when they do,” Mr. Kudoadzi remarked, adding that effective risk management is central to Ghana’s economic transformation.
By embedding enterprise risk management at the heart of decision-making, speakers agreed that, Ghanaian businesses could position themselves not only to survive crises but also to thrive in an increasingly uncertain global marketplace.
