GHANA Law and Practice Contributed by: Victoria Bright and Justice Oteng, Addison Bright Sloane
of their duties of care and good faith, as well as for false or misleading disclosures relating to AI systems. Cybersecurity risks under the Cybersecurity Act, 2020 (Act 1038) may result in regulatory, civil and criminal liability for failures in protecting critical systems. Con - sumer protection laws further impose liability for unfair, misleading or harmful AI-driven decisions. In addition, sector regulators such as the Bank of Ghana, National Insurance Commission and securities authorities may impose sanctions for non-compliance with AI-related guidelines and disclosure obligations. 8.4 Key Disclosure Requirements for AI Use Ghana currently has no mandatory AI-specific disclo - sure requirements for companies. However, compa - nies must still disclose AI-related matters indirectly under existing laws on governance, risk management, cybersecurity, data protection, and material risk dis - closure in securities regulation.
The Companies Act’s general corporate governance and directors’ duties framework requires boards to identify, manage and disclose material risks, including those arising from AI. The Data Protection Act also mandates that companies must ensure lawful data processing, security safeguards and transparency. If AI processes personal data, companies will be man - dated to disclose, and failure to do so may attract penalty. The Ghana Stock Exchange ESG Disclosure Guide - lines (issued by SEC as a guidance manual) requires listed companies to disclose governance structures, risk management processes and material ESG issues, and these may be interpreted to include risk related to the use of AI and technological governance.
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