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Freetown: IFC and ICASL build capacity of Boards

18 May 2017 at 10:13 | 1253 views

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IFC, a member of the World Bank Group and the Institute of Chartered Accountants of Sierra Leone, are working together to deepen the pool of board members within the business community capable of serving on company board of directors. Competent board members with diverse expertise will boost business performance, and help grow Sierra Leone’s economy.

As part of the partnership IFC and ICASL recenty opened the first Corporate Governance Board Leadership Training of Trainers Program in Sierra Leone. The three-day event, facilitated by IFC experts and trainers, brings together seasoned trainers with the purpose of equipping them with skills and resources to provide specialized Corporate Governance training to Company Board members and decision makers.

Buffy Bailor (pictured), President, ICASL, said, “As an independent standard setting and monitoring body for the accounting profession in Sierra Leone, ICASL seeks to mitigate risk for businesses by helping them strengthen their regulatory framework and support good corporate governance practices. Today’s train the trainers event supported by IFC, will help us build a wider pool of competent trainers who will develop the capacity of Board members in adapting good corporate governance practices.”

Frank Ajilore, IFC Country Representative for Sierra Leone, said, “Developing good corporate governance practices among businesses is a priority for IFC because these practices assist companies mitigate risk, safeguard against mismanagement and attract investments. Collaborating with ICASL, IFC intends to assist board members and decision makers build capacity to better run their businesses on good corporate governance principles.”

IFC’s Conflict Affected States in Africa Initiative is supporting the implementation of the IFC Africa Corporate Governance program in Sierra Leone. CASA helps fragile and conflict affected states attract investment, improve their business environments, and grow their economies. CASA is active in nine countries in sub Saharan Africa and is supported by donor partners Ireland, the Netherlands, and Norway.

IFC’s Africa Corporate Governance Program improves the performance of businesses by helping them adopt good corporate governance practices and standards that are customized to fit regional priorities.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, IFC uses its six decades of experience to create opportunity where it is needed most. In financial year 2016, long-term investments in developing countries rose to nearly $19 billion, leveraging its capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

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