IFC, SECO launch Corporate Governance Programme for Ghana businesses

In 2008, the financial system in the US came crashing and with it the system in Europe. Investigators later discovered that weak corporate governance structures were to a large extent to blame for the irregularities that spiraled.

It is therefore, good news when the International Finance Corporation (IFC), together with the State Secretariat for Economic Affairs (SECO), Switzerland, launched the Africa Corporate Governance Programme  for Ghana to help strengthen businesses and boost economic growth in the country. .

A press release from the World Bank copied to ghanabusinessnews.com says, the IFC’s Africa Corporate Governance Programme improves the performance of businesses by helping them to adopt good corporate governance practices and standards that are adapted to regional priorities.

“Improved corporate governance helps businesses attract and retain investment, among other benefits,” it says.

“SECO is committed to promoting sustainable growth and reducing poverty and inequality by inducing favorable conditions for new and productive job creation. We are working with IFC, our strategic partner in Africa, to achieve this goal by instituting robust corporate governance systems among Ghana businesses, thereby contributing to Ghana s economic growth,” Gerhard Brügger, the Ambassador of Switzerland to Ghana was cited as saying in the release.

Ronke Ogunsulire, IFC Country Manager for Ghana, was cited as saying, good corporate governance policies and practices help businesses lower their capital costs, and become competitive, profitable, and attractive for investors.

“Partnering with SECO, IFC will help Ghanaian businesses develop and implement good governance policies to improve their operational efficiency, create more jobs in Ghana and grow the economy in the long-term,” she added.

By Emmanuel K. Dogbevi