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IFC, SECO launches Corporate Governance Program to Strengthen Ghanaian Businesses



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 program.

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.

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 2014, IFC provided more than US$22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. 

Credit: WB-Ghana

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