©Afreepress-(Lomé, March 8, 2018) - A training session for executives of three Togolese public companies, focusing on regulatory and practical aspects of corporate governance, was concluded on Friday, March 2 in Lomé. Initiated by Togo Invest Corporation Ltd., this training session, said Mrs Cynthia E. GNASSINGBE-ESSONAM, Secretary General of Togo Invest Corporation Ltd., not only helped to build the capacity of these executives, but also provided them with the opportunity to "learn best practices regarding the corporate governance instruments and mechanisms that need to be put in place to create an institutional framework conducive to investment".
The training was provided by two "eminent professors" of Law that are: Professor Abdoulaye SAKHO, Associate of the Law Faculties at the Cheikh Anta Diop University of Dakar (UCAD) and member of the Senegalese Institute of Administrators (ISA) and Me Charles MOUMOUNI, Lawyer at ''DS Avocat Canada'' and Professor at the University of Laval (Canada), Co-Chairman of the Pan-African Institute for Economic and Financial Governance (IPAGEF), Vice-President of the International Francophone Agora. It was moderated by Dr Médard BACKIDI, Director of Studies at the ERSUMA (Ecole Régionale Supérieure de la Magistrature) of OHADA.
Specifically, participants have been trained during five (05) days on good governance standards provided by the Organisation for the Harmonization of Business Law in Africa (OHADA), the Organisation for Economic Co-operation and Development (OECD) and the G-20. According to a statement from Togo Invest Corporation Ltd., the participants '' have been trained on (i) the generalities on << corporate governance >>; (ii) stakeholders and the relationship between them; (iii) corporate bodies; (iv) the duties and responsibilities of directors and corporate officers; (v) the governance of public, private and non-profit companies; (vi) the means of control, evaluation and sanction ; (vii) governance as a tool for managing issues, ethics and social responsibility; (viii) governance as a crisis management tool; and (ix) strategic governance and communication plan ".
At the end of this meeting, which started on 26 February, several recommendations were made to ensure good governance of Togolese Public Companies.
The trainers demanded that managers attending this training session, to raise awareness among directors and company managers about the usefulness of corporate governance, and to encourage directors and company managers to build capacity in corporate governance, to draw up governance standards taking into account the ethical dimension (Governance Code), to set up a Togolese Institute for Directors and to bring Law 90-26 of December 4, 1990 on public companies into line with Community legislation on corporate governance.
The companies that sent their managers to this training session are: Togo Invest Corporation Ltd, Togo Oil Company Ltd and the Port Authority of Lomé. This training was conducted by trainers from the Regional Higher School of Magistracy (ERSUMA) of OHADA.
Let's remember that Togo Invest Corporation Ltd is an investment holding company created by the Togolese State to lead the development and implementation of strategic investments by and for the State in order to create wealth for the Togolese economy and its population.
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