The National African Peer Review Mechanism Governing Council (NAPRM-GC), has empowered the African Peer Review Mechanism (APRM) District Oversight Committee (DOC) with information on the Targeted Review of Ghana and African Continental Free Trade Area (AfCFTA).
The engagement, held in Takoradi, was in partnership with the Western Region Office of the National Commission for Civic Education (NCCE) and sought to equip the DOC with the necessary knowledge on Ghana’s Targeted Review of corporate governance as a catalyst to the implementation of the AfCFTA.
This is to enable the DOC to educate Micro, Small and Medium Enterprises (MSMEs) to help them better understand how they could take advantage of the opportunities in the AfCFTA to spur the growth of local businesses.
The Most Reverend Professor Emmanuel Asante, Chairperson of the NAPRM-GC, in an address read on his behalf, said the APRM stood as a testament to the commitment of African nations towards self-improvement and accountability.
He said the Mechani
sm was rooted in the principles of democracy, governance, corporate governance and socio-economic development, while serving as a vital tool for fostering growth and stability across the continent.
According to him, the Targeted Review of Ghana provided a roadmap for the development of a National Programme of Action (NPoA), a strategic framework aimed at empowering businesses and strengthening their capacity to thrive within the AfCFTA, to help boost intra-African trade and economic integration.
He said the DOC was, therefore, vital to the successful implementation of the APRM, saying it served as a grassroots advocate for good governance and community development.
‘We have gathered here to identify how as a people we will be able to equip our MSMEs to enjoy the benefits of this free trade agreement by means of empowerment, and the success of our endeavours relies heavily on collaborative partnerships with key stakeholders,’ Most Rev. Prof Asante stated.
He, therefore, charged the Committee members to wor
k assiduously to ensure the full participation of local businesses in the AfCFTA to help boost economic growth in the country.
Madam Winifred Asare, the acting Executive Secretary of the NAPRM-GC, said APRM came into being in 2003 as a voluntary tool for self-assessment, peer learning and experience sharing in democracy and good governance for African Union member states.
She said Ghana’s journey within the APRM framework had been marked by significant strides since its initial review in 2006, saying the Governing Council had been instrumental in promoting good governance and facilitating positive change.
She noted that the DOC had served as the mouthpiece of the Governing Council to disseminate vital information across the country to community-based organizations and businesses as part of efforts to achieve its mandates.
She stated that the engagement was, therefore, to broaden the knowledge and understanding of participants on the Targeted Review of Ghana and its contributions to enhance the participati
on of the informal businesses in intra-African trade under the AfCFTA in Ghana.
Mrs Angela Carmen Appiah, President of the Institute of Directors-Ghana, speaking on the role of corporate governance practice in enhancing MSMEs readiness for AfCFTA, asked local businesses to put in place systems and structures that would promote accountability, transparency, and efficiency in the business.
She said all these were prerequisites to boost investor confidence and partnerships for the growth of their businesses.
Mr Patrick Adu Osei, Chief Programme Officer at the NAPRM-GC Secretariat, touching on Ghana’s Targeted Review of corporate governance as a catalyst to the implementation of the AfCFTA, said corporate governance was what allowed businesses to grow and thrive in a way that built strong fundamentals for future growth.
‘For Africa, corporate governance is crucial to building businesses that use entrusted resources efficiently, resulting in the greatest benefits for the majority of the people,’ he said.
The
District Oversight Committees are made up of key community stakeholders including, traditional and religious authorities, representatives from youth groups, Civil Society Organisations (CSOs), Persons With Disabilities, and other opinion leaders, with officials of the NCCE in both Regional and District offices being the lead members.
Source: Ghana News Agency