President Nana Addo Dankwa Akufo-Addo says Ghana’s commitment to good corporate governance remains on course.

The nation would not compromise on the principles of transparency and accountability because that was the path to ensuring sustainable development and growth, he noted.

“We are committed to the development of our economy, and corporate governance is vital for our economic health and capacity to deliver prosperity for our people,” the President stated in an interaction with the leadership of the African Peer Review Mechanism (APRM), at the Jubilee House, Accra.

The Mechanism, established in 2003, is a mutually agreed instrument voluntarily acceded to by the Member States of the Africa Union (AU) as a self-monitoring structure to strengthen good governance and democracy on the continent.

It was set up by the AU within the framework of the implementation of the New Partnership for Africa’s Development (NEPAD).

Ghana was among the first two countries, alongside Rwanda, to undergo peer review by the APR Forum in January 2006.

Under the leadership of President Nana Akufo-Addo, the nation recently hosted a targeted review mission (February27-March 17), focusing on the theme: “APRM as a Catalyst for the Implementation of the African Continental Free Trade Area”.

The resulting report is slated for peer review in the latter half of 2024.

The President asserted that the nation was delighted to go through the review mechanism again in the new era of good governance.

“This is vital to engender transparent rules and controls to guide the leadership, and also align the interests of shareholders, directors, management and employees.”

According to the President, APRM was critical to helping build trust with investors, the international community and public officials.

“The Mechanism catalyzes instituting the right structures and systems in order to create an environment of trust and accountability to underpin long-term economic growth and financial stability,” he said.

Ambassador Marie-Antoinette Rose Quatre, the APRM Chief Executive Officer (CEO), briefed the President on the upcoming National APRM Workshop, focusing on the development, harmonisation and integration of the APRM National Plan of Action.

The Action is derived from the targeted review report of Ghana’s long-term national development plans.

She also discussed with the President the prospects for the report to undergo peer review at an extraordinary summit of the APR Forum of Heads of State and Government in October, this year, as well as plans for the establishment of an Africa Credit Rating Agency by the APRM.

Ambassador Rose Quatre expressed satisfaction with Ghana’s steadfast commitment to the APRM process, a commitment that dates back more than 20 years since its first engagement with the Mechanism.