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THE ROLE OF NON-EXECUTIVE DIRECTORS IN THE GHANAIAN SME SECTOR

Emmanuel Sarpong-Kumankoma, Mohammed Amidu, Joshua Abor

DOI: 10.22495/cbv2i1art4

Abstract

This paper reports on the role of NEDs among Ghanaian SMEs. The results of this study revealed that less than half of the SMEs sampled engage the services of NED. The study also revealed that relatively larger SMEs are more likely to employ the services of NEDs. We also found that over 80% of the SMEs with NEDs were either growing or growing rapidly. NEDs’ contributions were also found to be multi-various and cut across the range of SME board functions. The study showed that most SMEs acquire NEDs mainly through informal personal contacts such as family, friends of a director, business friends rather than through formal arrangements.

Keywords: Non-executive Directors, Board of Directors, SMEs, Ghana

How to cite this paper: Sarpong-Kumankoma, E., Amidu, M., & Abor, J. (2006). The role of non-executive directors in the Ghanaian SME sector. Corporate Board: role, duties and composition, 2(1), 39-47. doi:10.22495/cbv2i1art4

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