President Nana Addo Dankwa Akufo-Addo has reaffirmed Ghana’s commitment to participating in the African Peer Review Mechanism (APRM), assuring the leadership of the APRM of Ghana’s readiness to undergo a peer review focusing on good corporate governance in October 2024.

This announcement marks a significant milestone in Ghana’s ongoing dedication to promoting good governance across the continent. In a recent interaction with the APRM leadership, President Akufo-Addo expressed Ghana’s eagerness to engage in the peer review mechanism once again, particularly in the realm of good corporate governance.

“It (good corporate governance) is an area that we certainly would have quite a lot to say. It is important that we make it clear to you that we definitely would like to participate in the process.”
President Nana Addo Dankwa Akufo-Addo

Ghana, being the first nation to join the APRM in 2003 under the presidency of John Kufuor, has since established itself as a pioneer in the initiative. The country’s inaugural comprehensive country review took place in the same year, setting a precedent for other African nations.

Now, under President Akufo-Addo’s leadership, Ghana is poised to re-enter the peer review process, emphasizing its commitment to enhancing corporate governance standards.

Recognition from APRM Leadership

Ambassador Marie-Antoinette Rose-Quatre, CEO of the APRM

Ambassador Marie-Antoinette Rose-Quatre, the newly appointed CEO of the APRM, highlighted the APRM’s anticipation for Ghana’s peer review on good corporate governance, set to take place before the end of 2024.

“I must really commend your country in terms of the legacy and the standard that has been set. There has been a low but I have taken note of renewed engagement with the request for Ghana to conduct a comprehensive peer review on good governance.”
Ambassador Marie-Antoinette Rose-Quatre, CEO of the APRM

Ambassador Rose-Quatre further mentioned that during the extraordinary summit later this year, they hope to review several thematic areas, including corporate governance, which has been notably addressed by Ghana.

Local Preparations and Support

Most Rev Professor Emmanuel Asante, Chairman of Ghana’s National African Peer Review Mechanism (APRM) Governing Council, acknowledged the preparatory work done by five African countries, including Ghana, for their upcoming peer reviews.

Professor Asante expressed his confidence in President Akufo-Addo’s capability to lead by example and undergo the peer review process.

“We would be pleased to have you (President Akufo-Addo) offer yourself to be reviewed with your peers and we know you have the capacity to do that. Only one head of state did the review, and I think it was Mozambique. I was saying to myself that I wish my President was here as well,”
Most Rev Professor Emmanuel Asante, Chairman of Ghana’s National African Peer Review Mechanism (APRM)

Professor Asante further emphasized the importance of the review in enhancing national governance strategies.

“It will encourage us a lot if you take the advantage to get yourself reviewed on good corporate governance. This week, we will be meeting to consider the national plan of action. We will look at the methodologies and how to incorporate the findings into the national plan.”
Most Rev Professor Emmanuel Asante, Chairman of Ghana’s National African Peer Review Mechanism (APRM)

The APRM, adopted by African heads of state and governments as a systematic peer learning and self-assessment mechanism, serves as Africa’s unique approach to governance improvement.

Originating from the NEPAD foundational document, the “Declaration on Democracy, Political, Economic and Corporate Governance” adopted in Durban, South Africa in July 2002, the APRM aims to enhance governance dynamics at local, national, and continental levels.

This commitment to the APRM underscores Ghana’s dedication to fostering good governance not just within its borders but across the African continent. By re-engaging with the APRM and committing to a peer review on good corporate governance, Ghana reaffirms its position as a leader in promoting transparency, accountability, and good governance practices in Africa.