IFC, West African Stock Exchange Partner to Strengthen Corporate Governance

Proshare

Thursday, January 17, 2019 12:41 PM / by The Oracle

 

International Finance Corporation (IFC) and West Africa Regional Stock Exchange, Bourse Régionale des ValeursMobilières, have signed an agreement to cooperate toward improving corporate governance practices of listed companies. Under the agreement, IFC will help BRVM design, develop, draft and implement a Corporate Governance Code. 

Corporate governance practices among West African companies lag international standards. Among other issues, they lack corporate governance guidelines that could serve as a reference for companies to improve practices. IFC and BRVM seek to provide market participants with a platform of governance principles and standards that would help them strengthen their practices in a progressive and sustainable way. 

Corporate governance codes elsewhere have served as a tool to improve practices. The implementation of a code in West Africa would lead to greater transparency and improve investor confidence that supports regional capital market development. 

Adamou Labara, IFC’s Acting Country Manager for Côte d’Ivoire, said “Through this partnership BRVM can leverage IFC’s global expertise in corporate governance to help African companies improve their access to capital.” 

Dr. Edoh Kossi Amenounve, Managing Director of BRVM, said “This agreement with IFC demonstrates our commitment to adopt best practices. Our aim is to strengthen the capacity of our affiliated companies through the development and the implementation of the Corporate Governance Code and increase their access to financing.” 

IFC’s Corporate Governance program works to improve performance of African companies and increase market capacity to attract and retain investments. IFC has helped more than 11,000 companies in more than 30 countries to implement best practices in governance that enable them to have access to new funds estimated at more than $3.2 billion.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.       IFC, West African Stock Exchange Partner to Strengthen Corporate Governance – The Oracle – Jan 15, 2019

2.      Global Growth Is Expected To Slow To 2.9 percent in 2019 – World Bank

3.      AfDB Approves US$14.12 million To Support Nigeria’s Membership in African Trade Insurance Agency

4.      5 Charts That Explain the Global Economy in 2018

5.      IMF MD Calls for Decisive and Collaborative Action By G-20 Leaders as Global Growth Moderates

6.      AfDB to Play Bigger Role in African Economies by Investing in Infrastructure Private Equity

7.      Reflections on International Spillovers and Cooperation

8.     G20 And African Countries to Meet In Germany; Nigeria Not Included In List Of Countries Invited

9.      #NES24 Roundtable - Leveraging Domestic Resource Mobilisation for Sustainable Development

10.  IMF - Transcript of the Press Conference of the October 2018 Fiscal Monitor

11.   IMF: World Economic Outlook, October 2018 - Challenges To Steady Growth

12.  IMF appoints Harvard’s Gita Gopinath as chief economist

13.  A Global Tipping Point: Half The World Is Now Middle Class Or Wealthier

14.  FG welcomes UN’s move to tackle development challenges in the Sahel Region

15.   AfDB and Purdue University to hold conference on successful technologies for African farmers

16.  AfDB Releases Flagship Report, 2018 African Economic Outlook in Arabic, Hausa and Kiswahili

17.   Nigeria Exits Recession and Looks Beyond Oil

18. The Richard Koch Breakthrough £50,000 Prize In Economics
READ MORE:
Related News
SCROLL TO TOP