Nairobi, Kenya. April 28, 2015 – IFC,
a member of the World Bank Group, and the Institute of Directors Kenya,
(IOD), today entered into an partnership to promote best practices in corporate
governance among businesses and institutions in Kenya, as part of IFC’s
East Africa Corporate Governance Program. Improved corporate governance
practices will help strengthen businesses and boost economic growth in
Under the new three year partnership, IFC will provide training and skills
development programs to IOD Kenya members, many of whom are corporate directors
and senior managers. The coaching will help make IOD the reference of effective
and sustainable good corporate governance.
IOD Kenya, a non-political professional organization committed to the professional
practice of Corporate Directorship. It seeks to engage with all stakeholders
including the identification of sectoral weaknesses in the implementation
of corporate governance and recommendations of measures for strengthening
Meshack Joram, CEO, IOD Kenya, said “IOD is set to increase the number
of highly skilled directors in the country in order to raise the governance
standards will private and public sectors. Partnering with IFC will help
us achieve our goals and help our members benefit from IFC’s long term
global experience in developing corporate governance in emerging markets.”
Corporate governance refers to the structures and processes by which companies
are directed and controlled. It makes companies more accountable and transparent
to investors and gives them the tools to respond to stakeholder concerns.
Manuel Moses, IFC Head of East Africa said, “By partnering with IOD Kenya,
IFC seeks to boost good corporate governance and encourage productivity
among Kenyan institutions, which in turn will drive growth and development
IFC works with the private sector in developing countries to build sustainable
businesses by putting in place corporate governance practices that allow
businesses to mitigate risk, safeguard against mismanagement, and attract
the investment and capital that will fuel their growth.
The Africa Corporate Governance Program is funded by SECO, Switzerland
and IFC is the implementing partner for the program.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org.
The Institute of Directors (Kenya) is a non-political professional organization
of individual Corporate Directors and senior managers committed to the
professional practice of Corporate Directorship through good corporate
governance for the benefit of organizations, stakeholders and the prosperity
of Kenya. IOD (K) is committed to unlocking and recognizing member potential
through provision of world class learning opportunities, knowledge sharing,
networking, mentorship and promotion of world class standards in Corporate
Governance. The Institute partners with the best knowledge delivery organizations
to develop and review training curriculum and develop training material.
More details on IOD can be found at www.iodkenya.co.ke