Monrovia, Liberia. May 3, 2016 –
IFC, a member of the World Bank Group, is helping Liberian SMEs adopt good
corporate governance practices that will improve their performance, and
help make them more sustainable, strengthening private sector growth in
IFC organized a workshop in Monrovia for
SME business owners, CEOs, senior executives, board members, and others
that explained the relevance of corporate governance, and how it supports
the growth and competitiveness of firms. Other topics discussed included
succession planning for family-owned
and how good corporate governance helps businesses attract new investors.
Frank Ajilore, IFC Resident Representative
for Liberia, said, “IFC is committed to developing SMEs in Africa because
they are powerful engines of growth and job creation. From our global experience,
we know that good corporate governance policies and practices help businesses
lower their capital costs, making them more attractive for investors. Through
workshops and seminars, we are promoting
sustainable business growth in Liberia and across the region.”
Corporate governance is the structures and
processes by which companies are directed and controlled. IFC Africa’s
Corporate Governance program helps businesses adopt good corporate governance
practices and standards that reflect regional priorities. Improved corporate
governance helps businesses operate more efficiently, and attract and retain
investment, among other benefits.
IFC is a strong partner helping Liberia strengthen
and grow its economy, providing both investments and advisory services.
IFC also supports Liberia through its Conflict Affected States in Africa
Initiative (CASA), which is backed by Ireland, the Netherlands, and Norway.
IFC’s Africa Corporate Governance 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, visit www.ifc.org
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