Accra, Ghana. April 8, 2015 – IFC,
a member of the World Bank Group, and the State Secretariat for Economic
Affairs (SECO), Switzerland, today launched the Africa Corporate Governance
Program for Ghana to help strengthen businesses and boost economic growth
in the country.
IFC’s Africa Corporate Governance Program
improves the performance of businesses by helping them 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.
Speaking on behalf of SECO, His Excellency
Gerhard Brügger, the Ambassador of Switzerland to Ghana, said, "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.”
Ronke Ogunsulire, IFC Country Manager for
Ghana, said, “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.”
IFC and SECO launched the program at an event
attended by Ghanaian regulators including representatives of the Ministry
of Finance and Economic Planning, business leaders, and training institutions.
Speakers, including representatives of Bank of Ghana, Mr. Millison Narh,
1st Deputy Governor, Bank of Ghana, and Securities and Exchange Commission
of Ghana, Dr. Adu Anane Antwi, Director General, Securities and Exchange
Commission, noted the need for businesses to adopt and apply sound corporate
governance policies and processes to improve their productivity.
The Africa Corporate Governance Program is
funded by SECO, Switzerland and IFC is the implementing partner for the
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.
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.