The FINANCIAL — IFC, a member of the World Bank Group and the Ghana Stock Exchange on June 23 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, according to IFC.
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.
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