Africa Corporate Governance Program
The regional program aims to improve corporate governance policies and practices in selected countries in Africa. By promoting good corporate governance operational efficiency and performance of companies can be improved.
Private sector and entrepreneurship
- International Finance Corporation
|Background||The Africa region is lagging behind in regulatory frameworks and application of corporate governance standards and practices. In several markets there is a nascent interest in the agenda, driven in part by emerging financial centres, investor interest and domestic stakeholders. Good corporate governance has a positive effect on firm growth, contributes to capital market development, and improves financial stability and economic sustainability.|
|Objectives||The program will establish better corporate governance practices in the selected countries. The adoption and demand of these practices are expected to translate into improved financial performance and operational performance at the firm and market intermediary level. By the end of the four year program, it is expected that companies report improved performance (e.g. improvements in productivity, valuations, operations etc.), and that there is more access to new financing sources with a value of about USD 80 mio. financing facilitated.|
|Medium-term outcomes||Increased awareness for good corporate governance.Improved regulatory environment related to corporate governance.Increased local institutional capacity for the promotion and implementation of good corporate governance services.Better corporate governance practices in companies.|
Expected results: Raising public awareness and sharing knowledge on corporate governance through media appearances, publications and workshops together with local partners.Strenghtening the regulatory environment through assisting the drafting and updating of laws and regulations related to corporate governance on the basis of international best practise and feedback from private sector consultations.Build capacity and strengthen market intermediaries to improve their capacities and know-how and develop corporate governance material for local dissemination.Improve corporate governance practices in companies through providing direct assistance (e.g. corporate governance assessments and corporate governance improvement plans).
|Directorate/federal office responsible||
|Budget||Current phase Swiss budget CHF 4'339'600 Swiss disbursement to date CHF 0 Budget inclusive project partner CHF 14'685'000|
|Project phases||Phase 10 01.02.2014 - 30.06.2020 (Current phase)|