Bankers drawn from The Gambia, Ghana, Nigeria, Sierra Leone and Liberia are attending a week-long training course on corporate governance and regulatory compliance at Paradise Suite hotel in Kololi.

The training organised by the West African Institute for Finance and Economic Management seeks to build “ethical culture and establish acceptable corporate governance standards”.

The training will cover key subjects including value proposition, risk management and regulatory compliance, historical evolution of regulatory framework for corporate governance, red flags associated with regulatory compliance and governance failure.

Dr Baba Y Musa, WAIFEM director general, said: “Good governance is a foundation for a healthy and functional organisation. 

“It sets the tone as to how the organisation operates and behaves both internally and to the market generally. It defines the relationship among the Board of Directors, management and the rest of the organisation.”

He also said the course aimed to provide participants with the knowledge necessary to effectively design and enhance integrated good governance and regulatory compliance activities across organisations.

“The course is also expected to empower leaders in both public and private organisations and compliance managers in addressing the pervasive corporate governance failures and regulatory compliance issues,” he added.

Dr Paul Mendy, deputy governor of The Gambia Central Bank, said one of the most obvious reasons for corporate failure is the lack of an effective board.

Reporting by Adama Makasuba