IFC, Institute of Directors-Ghana boost corporate governance

IFCThe International Finance Corporation (IFC), the private sector arm of the World Bank Group, and the Institute of Directors – Ghana (IoD-G) have gathered professionals from businesses to strengthen business practices by adopting good corporate governance.

The two organizations organized an event in Accra to boost productivity among businesses by increasing the number of trainers equipped with the capacity to effectively transfer knowledge of corporate governance practices.

According to a statement from the World Bank office in Accra, about 14 trainers from seven institutions are attending the exercise which will improve business operations by building greater market knowledge on how to achieve sustainable value creation and growth.

Ronke-Amoni Ogunsulire, IFC Country Manager for Ghana, said: “One of our key focus areas is to help Ghanaian businesses grow. Corporate governance is an important tool that can help move them to a different level; for example, adopting corporate governance practices can help companies attract a more diverse pool of investors to grow their businesses. We are pleased to work with IoD-G to build a database of trainer resources to help more businesses understand and use these tools.”

IoD-G has been working in partnership with the IFC since October 2015 to help encourage companies adopt and institute good corporate governance practices in Ghana to provide companies with the tools needed to respond to stakeholder concerns.

Fred Ofosu Darko, the President of IoD-Ghana, was quoted as saying: “IoD-G is demonstrating its commitment to improve the use of corporate directors in a way that supports business growth and productivity. Together with IFC, we are creating a pool of trainers that will boost the adoption of corporate governance best practices in a wide range of companies and support growth in the economy.”

The program is funded by Switzerland’s State Secretariat for Economic Affairs (SECO).

By Emmanuel Odonkor

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