Publications -

“Corporate governance in MENA: Success Stories” by the IFC

Published in June 2015

This publication shares the experiences of 19 companies in the Middle East and North Africa, which have enhanced their corporate governance systems in recent years, after being advised by the IFC and applying their techniques.

The authors start with three main sections, setting out issues that the companies faced and comparing how they dealt with them:

  • Improvements affecting the Board of Directors: composition, diversity, clarification and intensification of duties, support committees, effective appointment procedures and performance assessment;
  • Improvements in management control and other enhancements: intensifying risk management, updating the internal auditing function, turning the Human Resources area into a strategic area with adequate support;
  • Results achieved from applying good corporate governance practices: increased access to funding, positive impact on reputation and profitability, reduction in organisational inefficiencies, greater sustainability.

One section of the document outlines the importance of corporate governance from the investor perspective, proving that it plays a key role in their investment cycle, and in creating value.

The report provides a profile of the 19 companies analysed, listing the corporate governance practices applied and the impact they have had.

The document shows that corporate governance has a substantial impact not just on how institutions raise capital, but also on their profitability, reputation, sustainability, efficiency, effectiveness and value creation.

 

Read the report clicking here