Nana Yaa Ahmed is the Senior Associate of Ghanaian ENSAfrica, and has pleaded with all small and medium enterprises to prioritize corporate governance to attract the needed funding they require to grow their businesses. She is of the opinion that a proper corporate governance structure will strengthen their operations and afford their ventures some growth effectively and efficiently. Mrs. Ahmed made this call in at a two-day training workshop for SMEs, in Accra, while speaking on the topic: “Legal Environment of Business.”
Diligent Consulting offers the implementation of a methodology where governance is based on risk assessment. To Mrs. Ahmed’s observation and plea, Diligent Consulting (headed up by Dr. Johan Engelbrecht) has noticed that good corporate governance is becoming more than a buzz-term in South Africa and across the continent.
The Senior Associate implored that SMEs be innovative and form partnerships to derive optimal performance and returns since that was the way to go to remain competitive in the market and to upheave their attraction to investors. She remarked that SMEs have a crucial hat to wear on the journey to make Ghana’s economy achieve its development objectives by way of job creation, and contribution to the Gross Domestic Product. “It is factual that when SMEs are given the necessary assistance, they will become important pieces in the chessboard of Ghana’s economy, creating jobs and wealth for the populace”, she said.
Of particular interest, Mrs. Ahmed encouraged SMEs to abide by credible corporate governance and implement best practice, adding that enterprises must concentrate on doing what is right to keep them in the race. “It is essential for SMEs to be abreast with the tenets of corporate governance to be aware of their rights and responsibilities, and manage their businesses effectively.
This development was first reported on Ghanaweb and is of interest to the South African executive as it shows that corporate governance is beginning to take its place as the cornerstone of business development.