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IFC helps Liberian SMEs Adopt Good Corporate Governance, Improve Performance


In Lagos:
Ejura Audu
Phone: +234 803 494 6244


E-mail: eaudu@ifc.org

In Washington:
Loty Salazar (IFC)
Phone: +1-202-458-2559
Email: lsalazar@worldbank.org

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 the country.  

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 businesses, 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.  

About IFC
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

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ABOUT SECO
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