Businesses urged to adopt world-class corporate practices

Business News of Tuesday, 3 March 2015


Ghanaian businesses have to adopt effective corporate governance practices to make them more sustainable and attractive.

Those are the thoughts of regulators, policy makers, accounting professionals and business leaders who attended the 2015 Corporate Governance Dialogue organized by the Association of Chartered Certified Accountants (ACCA) and the International Finance Corporation (IFC).

The conference dubbed, “Corporate governance: a catalyst for Ghana’s economic development” discussed ways Ghanaian companies can improve their operations and strengthen relationships among management, directors, shareholders and other stakeholders.

Speaking at the conference, ACCA Director, Sub-Saharan Africa Jamil Ampomah said evidence pointed to the fact that well-governed companies perform better, earn higher investor confidence, and record higher growth.

“Finance professionals play a critical role in developing good corporate governance, which is why ACCA has launched a Good Governance Global campaign in key countries around the world including Ghana. This will focus on building two crucial pillars of strong corporate governance – a robust framework made up of clear and complete codes, regulations and laws, and a culture that supports this, and we look forward to developing this campaign in the coming months,” Jamil Ampomah said.

IFC, a member of the World Bank Group, and ACCA, the global body for professional accountants are working together for three years to promote improved corporate governance practices in Ghana to help build more sustainable businesses in the country and strengthen private sector growth.

Chinyere Almona, Head, Africa Corporate Governance Program for IFC said, “by partnering with ACCA, we will work with companies to implement corporate governance practices that will boost economic growth and development in Ghana.”