Accra, Ghana. June 23, 2016 – IFC, a
member of the World Bank Group and the Ghana Stock Exchange today announced
a partnership to promote the adoption of sound business practices within
the capital market to support business expansion and boost economic growth.
The partnership is one of the many interventions under the Africa Corporate
Governance Program intended to improve business performance. It will also
help raise awareness of the cross-sectorial reach of activities and set
a program outline that will encourage improved policies, standard-setting,
network events, and outreach programs within the Ghanaian business community.
At today’s event, “Behavioral Ethics and Corporate Governance,” GSE
and IFC presented the business case for adopting good corporate governance
practices to Ghanaian capital market operators. It aimed at helping them
understand the impact these practices have on improving performance, and
discussed challenges in adopting them.
Kofi Yamoah, Managing Director for GSE, said, “GSE is committed to helping
businesses access capital especially through listing on the Ghana Stock
Exchange. One sure way for companies to stand out is by adopting sound
practices that make them more attractive to local and foreign investors.
We have partnered with IFC to help us achieve this goal and boost growth
in our capital markets.”
Ronke-Amoni Ogunsulire, IFC Country Manager for Ghana, said, “IFC is constantly
seeking ways to help Ghanaian businesses grow so that they can contribute
meaningfully to economic development. A key priority is to help companies
adopt good corporate governance practices which will improve their performance
and better access to investors. Working with GSE will help us support a
wider range of businesses in adopting these practices.”
IFC’s Africa Corporate Governance Program was designed to improve firm
performance and increase the ability of markets and firms in Sub-Saharan
Africa to attract and retain investment. The program is funded by the State
Secretariat for Economic Affairs (SECO), Switzerland.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise
and influence to create opportunity where it’s needed most. In FY15, our
long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,
SECO is Switzerland’s competence center for all core issues relating to
economic policy. SECO’s economic development cooperation strives to achieve
sustainable growth. Such growth is sustainable if it creates jobs, helps
to increase productivity, to reduce poverty, inequalities and global risks.
For more information, visit www.seco-cooperation.ch.