The National African Peer Review Mechanism Governing council (NAPM-GC) will today, Tuesday, January 31, 2023 host an Editors’ Forum on “Targeted Review of Ghana” in Accra.
According to the news brief on the event, the broad objective of the Targeted Review is to identify governance gaps to improve corporate governance policies, standards and practices in Ghana to harness the benefits of the implementations of the Continental free Trade (AfCFTA).
The National African Peer Review Mechanism Governing council noted that as part of the review process, Ghana would receive the Continental Review Mission Team (CRMT) led by the APRM panel. The mission will commence from 6th to 20th Feb.2023.
The objective of the Editors’ Forum, among others, is to sensitise editors on the Targeted Review process, their roles and responsibilities as key stakeholders and significance of their participation in the National and Regional engagements with Targeted Review Mission Team (TRMT).
After a decade and half since Ghana’s first country self-assessment and peer reviewing, President Nana Addo Dankwa Akufo-Addo has commissioned a “Target Review” assessment of Ghana on corporate governance as a catalyst to the implementation of Africa Continental free Trade Area (AfCFTA) in Ghana.
Forum to Solicit the Support of the Media
The Forum is expected to solicit the support of the media fraternity to promote the Targeted Review of Ghana among the business community and Ghanaian citizenry before, during and after the Targeted Review Mission.
The Targeted Review Mission comes just days after Ghana hosted the maiden Africa Prosperity Dialogue which saw African leaders from diverse areas of national endeavour gather to discuss and share experiences on initiatives required for Africa to achieve the goal of shared prosperity. It also reviewed the Africa Agenda for Action and how the African economy will elevate the objectives of the African Continental Free Trade Agreement (AfCFTA) from ambition to real action.
The African Continental Free Trade Area was birthed in 2018, but the AfCFTA still faces practical challenges. African countries need to take pragmatic measures to propel the continent to a level where it can compete favourably with the others.
The AfCFTA aims to create a single market for goods and services, facilitated by the movement of people, and to deepen the economic integration of the African continent in accordance with the pan-African vision of “an integrated, prosperous and peaceful Africa”, enshrined in the African Union’s development policy Agenda 2063.
The AfCFTA Intends to enhance the competitiveness of the economies of state parties across the continent within the global market. Other objectives are to promote industrial development through diversification, regional value chain development, agricultural development and by achieving food security.
Meanwhile, the African Peer Review Mechanism (APRM) was established in 2003 by the New Partnership for Africa’s Development (NEPAD) Heads of State and Government Implementation Committee (HSGIC) as an instrument for AU Member States to voluntarily self-monitor their governance performance.
APRM promotes political stability, accelerated sub-regional and continental economic integration, economic growth and sustainable development. By acceding to the APRM, Member States agree to independently review their compliance with African and international governance commitments.
Each review leads to a national programme of action for the state concerned to address problems identified. A national monitoring body prepares six-monthly and annual reports on progress in implementing the national programme of action for submission to meetings of the APRM Forum of Heads of State and Government. Country review reports are made available to the public after the APRM Forum peer review.
The APRM has special support agreements with five Africa-based institutions designated by the Forum as strategic partners: the African Development Bank (AfDB), UN Economic Commission for Africa (UNECA), UN Development Programme (UNDP) Regional Bureau for Africa, Mo Ibrahim Foundation and the African Capacity Building Foundation (ACBF).
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