JJ & Wife Grace Club 100 Awards

When Mrs Mawuena Trebarh took the bold decision to change the structure and pattern of the 2013 Ghana Club 100 event she could not have known that she would be making the impact that she did. Putting the usual business community aside, the event was graced by the Founder of the NDC – whose regime founded the GIPC - former President Rawlings, his wife and Former Prime Minister P.V. Obeng who chaired the occasion!

The arrival and participation of many high-profile dignitaries – both local and foreign – and most importantly former President Rawlings at this year’s GIPC Club 100 gave a seal of approval to the 2013 event. 

Interestingly, the GIPC was established when Former President Rawlings was at the helm of affairs as Ghana’s CEO and yet this is the first time he honoured the company’s flagship event. 

Coincidentally, the event’s theme, “Promoting Good Corporate Governance and Innovative Entrepreneurship” is in line with President Rawlings' ideals of probity and accountability.

The former President was accompanied by his wife Nana Konadu Agyeman Rawlings and both gave awards. And in her usual self, Mrs Rawlings brought her dancing heels – she danced outstandingly!

Last Friday night starting from 7 pm, the Ghana Investment Promotion Centre celebrated Corporate Ghana, in a much anticipated 13th edition of the prestigious Ghana Club 100 awards at the State Banquet Hall! 

The other highlight of the evening was the changed format which saw a panel discussion on the topic “The Economic Integration of Africa -The role of the private sector” with Dr. Thomas Mensah – Chairman of Lightwave and Wireless Systems Corporation, USA (via Skype conference call) , Mr. William Olukoya, Deputy Chief Executive Officer, Symbion Power LLC. USA, Professor Yaw Nyarko, Professor of Economics and Co-Director of the Development Research Institute, Dept. of Economics - New York University USA and Mr. Paul Talley CEO of Vanu Africa. The panel discussion was moderated in a BBC style by ace journalist Mr. Komla Dumor, Senior Broadcaster with the BBC, United Kingdom.

The emphasis on corporate governance, according to GIPC, is that the presence of strong governance standards provides better access to capital and aids economic growth. Properly designed rules of governance should focus on implementing the values of fairness, transparency, accountability, and responsibility to both shareholders and stakeholders.

When asked of her views of this year's event, Mrs. Trebarh stated that she was humbled by the presence of former President Rawlings, his Wife as well as the Chair for the occasion Mr. P.V. Obeng and the other dignitaries. She went on to emphasise that "there is no doubt that one of the greatest achievements of the Ghana Investment Promotion Centre (GIPC) is the introduction of Ghana Club 100 (GC 100) in 1998. The GC 100 is made up of the top 100 high performing companies in Ghana from both public and private sectors. The listing, grading and awarding is carried out annually during which companies who make the mark join the list whiles those that are unable to, are eliminated.

The brand has aimed mainly at introducing a system of ranking the top 100 companies in Ghana while encouraging and nurturing the private sector to develop and grow to compete internationally. The Centre believed, and still believes, that this would cultivate the character and confidence required by businesses in Ghana for the global environment.

When asked about the choice of this year’s theme, she went on to say that it was important for Ghana to accept that there is a global yardstick with which standards of operation and practice must be set, and with “Good Corporate Governance and Innovative Entrepreneurship” it is important for us to note that potential investors will always be interested in seeing evidence of a company that is not just successful in terms of client base and revenue but also in terms of operational and best governance practices. Good corporate Governance is therefore a necessary ingredient if our companies want to be competitive in the global market.

Mrs Trebarh further said "It is also worthy to note that the dynamic and competitive nature of global business means investors are only attracted to well organized and positively ambitious companies because they have a greater potential of success and good profit margins".

The GIPC Boss went on to suggest: "We need to put our house in order to attract more of the scarce Foreign Direct Investments (FDI) in the market now. According to the 2013 World Investment Report by UNCTAD, Ghana attracted just 0.24% of the total world inflow of FDI. The report also states that FDI into West Africa declined in 2012 as compared to 2011. FDI flows to West Africa declined by 5 per cent to $16.8 billion from $16.1 billion in 2011. Fortunately Ghana is reported to have maintained the $3.3 billion it attracted in 2012. We have a lot of work to do if we are to increase these percentages and we at the Centre believe with the collective efforts of both public and private institutions, we can be partners in prosperity. To ensure that we attract a fair share of the Global FDI, we have put together a strategy, which is based on three pillars, Image, Experience and Tangible results".

She also stated that "Ghana needs to project and maintain the right Image and Reputation of both the GIPC and the country as a whole. It is therefore imperative that we encourage the adoption of best practices in all aspects of our business lives if we wish to attract the relevant and strategic FDI into the country. In addition we are ensuring that every investor and anyone else who influences decisions has only positive experience where execution of commercial opportunities in Ghana are concerned.

“Finally, we wish to translate direct investments (both foreign and domestic) into jobs, infrastructure, high impact interventions on critical economic indicators and key factors driving investment decisions."

Off the back of a tough 2013 which has seen political court cases and power-related problems persisting as well as new appointees settling into offices, the GIPC's bold changes can only be commended!

Source: myjoyonline