The African Peer Review Mechanism (APRM) and the Institute of Directors-Ghana (IoD-Gh), have agreed to pilot a high-capacity corporate governance training and mentoring programme for 25 indigenous Micro Small, and Medium-sized Enterprises (MSMEs), to help them access export markets created by the African Continental Free Trade Area (AfCFTA).
This was disclosed in Accra, at a meeting between the APRM Targeted Review Mission Team (TRMT), led by Ambassador Aly Houssam El-Din El-Hefny Mahamoud, APR Panel member responsible for Ghana, and leadership of the IoD-Gh. The TRMT is currently undertaking a Targeted Review of Ghana on the pillar of Corporate Governance, under the theme “APRM As A Catalyst For The Implementation Of The African Continental Free Trade Area (AfCFTA)”.
Presenting highlights of the proposed training module, Mr. Clement Wiredu, Chief Executive Officer of IoD-Gh, said the Institute’s comprehensive national corporate governance code which harmonizes existing sectoral codes, as well as sectors without corporate governance codes, and incorporates best international corporate governance practices had been designed to break the myth surrounding corporate governance as elitist and exclusive to “big” companies; explaining that, it is only through good corporate governance practices that the MSMEs of today, can grow into the multi-nationals of tomorrow.
The pilot phase of the programme targeted at 25 yet to be selected MSMEs, is scheduled to run for 12 months after which, up to 100 more MSMSEs would be enrolled to open the series of the main programme.
The APR Panel member responsible for Ghana, Ambassador Aly Houssam, said the 36th Ordinary Session of the Heads of State and Government of the AU, held in February 2023, declared the AfCFTA as a priority programme, enjoining all stakeholders to contribute their quota to spread the benefits to all African nations as producers, distributors or patrons of made in Africa products and services.
Ambassador Aly Houssam indicated that Ghana was in a privileged position as the first country to be reviewed on corporate governance in a targeted review and encouraged businesses in the country to take advantage of the vast market opportunities that AfCFTA has to offer.
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