Skip to main content

IFC, ACCA Promote Sustainable Businesses to Strengthen Ghana’s Economy


International  Finance Corporation (IFC), a member of the World Bank Group, and the Association of Chartered Certified Accountants, Ghana’s global professional accounting body, are promoting growth of sustainable businesses through good corporate governance practices. 

The adoption of improved practices helps strengthen private sector and growth in Ghana’s economy.

IFC and ACCA have been working together since 2014 to improve business performance in Ghana. As part of planned activities, both institutions hosted about 100 stakeholders, including regulators, policymakers, accounting professionals and business leaders to the second Corporate Governance Dialogues conference this week.

Norman Williams, ACCA Portfolio Head, East and West Africa, said: “ACCA remains committed to helping businesses improve performance through good corporate governance practices that will boost their capacity to attract more capital and increase their profitability. Together with IFC, we are facilitating the adoption of these practices that will help grow businesses and the economy”.

Chinyere Almona, IFC Head of Africa Corporate Governance Advisory Program, said, “IFC has learned from its global experience that good corporate governance helps companies operate more efficiently, gain access to capital, mitigate risk, and safeguard against mismanagement. This conference jointly organized with ACCA has helped IFC reinforce its commitment to support economic growth by sensitizing Ghanaian companies to build and strengthen sustainable operations through good corporate governance practices.

IFC Africa’s Corporate Governance program aims to improve the performance of businesses by helping them adopt good corporate governance practices and standards that are adapted to regional priorities.

The conference was facilitated by Sunita Kikeri, Program Manager for Corporate Governance in the Finance and Markets Global Practice of the World Bank, Andrew Akoto, Partner at KPMG, and Kofi Abotsi, Legal Practitioner, Dean, GIMPA School of Law. 

Participants discussed ways businesses can enhance transparency and accountability in corporate governance and how they can strengthen the legal and regulatory framework of Corporate Governance in Ghana.

The IFC Africa Corporate Governance program is funded by the State Secretariat for Economic Affairs (SECO), Switzerland.

Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…