East Africa Corporate Governance (IFC-600673)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 10, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 1.79 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank Feb 12, 2016


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Project Description
The East Africa Corporate Governance Program aims to build sustainable businesses and improve the business environment in Kenya, Uganda, Rwanda and Tanzania through targeted CG services. 1: Firm-level: Provide direct assistance to selected firms. CG offer to firms include: - CG Assessment and Development of Improvement Plan - Training on CG principles, practices and framework as well as benefits thereof - Advisory on Board Committee functions - Developing Board Charters - Improving internal financial reporting and transparency procedures. 2: Market-level: Build capacity and strengthen CG intermediaries and market infrastructure through training-of-trainers events and other interventions to help training institutes, Local CG service providers and other market intermediaries (associations, investors, media, consultants) increase outreach to firms and become self-sustaining. 3: Regulatory-Level: IFC will work to support establishment of sound CG regulatory frameworks aligned with international best practice. IFC will work with regulators to develop a uniform CG code to be utilized across sectors, as well as promote the implementation of the existing CG code for listed firms. This could include working with the Securities and Exchange Commission, Central Bank and other entities that work on advancing laws, regulations, codes or CG score cards. Capacity Building for the Regulators will be a priority. 4: Macro-Level: In East Africa, generating awareness of CG is of great importance in order to build the case and momentum for changing practices and reforming the macro environment. Awareness raising activities to trigger interest and awareness around themes for the private sector such as the business case for CG, the independent director, related party transactions and conflict of interest.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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