Corporate Governance Success Stories
This report summarizes the experiences of 19 companies from across the region. Each of the case studies highlights the key corporate governance changes made and the positive impacts that resulted, as reported by the company. The companies represent...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Cairo
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/06/26504180/corporate-governance-success-stories http://hdl.handle.net/10986/24790 |
| Summary: | This report summarizes the experiences
of 19 companies from across the region. Each of the case
studies highlights the key corporate governance changes made
and the positive impacts that resulted, as reported by the
company. The companies represent various countries, sectors,
types, and sizes. All of the companies featured are former
IFC Advisory Services clients. Some are IFC Investment
clients as well. IFC conducted an in-depth corporate
governance assessment for each of these companies using
IFC’s Corporate Governance Methodology. The assessments
resulted in specific recommendations on ways to improve each
company’s governance framework and identified implementation
plans. The assessments were conducted at various points over
the past few years. The time taken to implement changes and
realize benefits varied. However, all companies reported
that governance changes are continuous and the corresponding
benefits manifest themselves in different forms over time.
This report provides examples of companies in various stages
of change – from recent changes (e.g., Medgulf) to ongoing,
longer-term changes (e.g., Bank Audi). This report also
includes testimony from three MENA private equity firms (all
IFC investment clients). Collectively, these firms have
worked with 72 investee companies (past and present funds).
Selected based on their association with IFC and their
willingness to share their insight and experiences, these
firms offer a valuable window into the importance of
corporate governance from an investor’s perspective. The
material in this report is based on feedback gathered
through individual interviews with each organization
featured, resulting in well-considered responses. The
achievements highlighted are all the more notable given that
the interviews and information gathering process took place
in in late 2009 (first edition) and 2013 (for current
edition), when the region was still under the stress of the crisis. |
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