The International Finance Corporation (IFC) and the Ghana Stock Exchange (GSE) have have joined heads to strengthen corporate governance of listed companies.
The partnership is to help the GSE become a more efficient and transparent regional platform for raising capital and supporting business growth.
As part of the agreement, IFC will help the GSE strengthen and reform listing rules, enhance disclosure and transparency requirements, and reinforce supervision practices by companies’ boards.
IFC and the GSE will also deliver a series of training programs to help local businesses strengthen their corporate governance practices and prepare them to raise capital on the stock exchange.
The Managing Director of GSE, Ekow Afedzie said, “The GSE is committed to instilling current global standards of corporate governance in Ghana’s companies. By doing so, we will inspire trust in both local and foreign investors and channel capital to productive use for the sustainable growth of our economy.”
IFC Country Manager for Ghana, Ronke Ogunsulire said, “IFC’s Corporate Governance Program supports not only the companies with which we work, but also governments and other institutions to create a conducive environment for the private sector to grow, raise financing, and create jobs to contribute to the development of their countries. We are pleased to be working with the Ghana Stock Exchange to support its important work making Ghana an even more attractive place for investors.”
IFC’s promotion of good corporate governance practices and standards helps firms attract and retain investment. Increased awareness of environmental and social risks, the role of businesses in society, and demands for more transparency and better-governed companies have made citizens, investors, and regulators more sensitive to corporate governance standards and practices.