A governance code will soon be issued to companies listed on the BRVM, the State Exchange in the WAEMU zone, in order to get them to appropriate the best management practices. An agreement was signed in this sense between the CF and the BRVM on January 10 in Abidjan.
The objective is to improve corporate governance practices in an area that is “lagging behind international standards” with the aim of generating investor confidence and attracting and retaining more capital that is “useful for development of capital markets in the region, “IFC said in its statement.
It should be noted that there are no specific directives in this area. And through this agreement, IFC will accompany the regional stock exchange “in the design, development, drafting and implementation of a corporate governance code. It will be “a platform of principles and standards of governance that will help them to reinforce their practices in a progressive and sustainable way”.
IFC points out that this governance program implemented in some 30 countries has already benefited more than 11,000 companies that have been able to capture “more than $ 3.2 billion in new investments”.
