The African Development Bank trains its representatives on the boards of directors of companies and financial institutions

AfDB NEWS & EVENTS

21-Feb-2020

The African Development Bank organized, in early February in Abidjan, a training session for the benefit of its representatives on the boards of directors of companies and national, regional and continental financial institutions.

This training on corporate governance and financial institutions was led by the Bank department in charge of non-sovereign operations and support to the private sector (PINS).

A total of 26 Bank employees who sit on boards of directors or who are involved in the governance system of Non-Sovereign Operations took part in this session provided by the firm Avanz Capital and Mosaic Africa.

“The training was timely, the content was relevant and the participation interactive, inspiring. Adopting best corporate governance practices is essential for success in both the private and public sectors, ”said Henry Paul Batchi Baldeh, one of the participants.

The training workshop enabled them to examine questions related to the representation of investors in the governance bodies of financial institutions and companies, to the roles and responsibilities of the members appointed by the Bank on the boards of directors in order to allow the value of their contributions to be maximized without going beyond their responsibilities.

They were introduced to the corporate governance structures, their roles and functions. These include general meetings of shareholders, boards of directors, board committees, the general secretariat, executive bodies and external and internal auditors.

The session also addressed the corporate governance code, the code of ethics, the problems of governance of international financial institutions (IFI), with the specific case of commercial banks.

Case studies allowed for rich discussions and an interesting sharing of experiences.

The workshop was found to be very useful, especially for new board members. They took the opportunity to ask all the questions useful for the accomplishment of their future missions.