The Tunisian Institute of Administrators (ITA) has announced the creation of the first African Institute of Administrators, comprising representatives from Tunisia, Algeria, Mali, Guinea, and Côte d'Ivoire. This development took place during the ITA's 10th annual meeting in Tunis. The new institute aims to strengthen the application of international norms in corporate governance and environmental and social responsibility within financial institutions, banks, and listed companies in these countries.
The ITA president, Moez Joudi, emphasized that adhering to these international standards is no longer optional but essential for ensuring the long-term sustainability, competitiveness, and ability of companies to secure international financing. The institute's establishment is seen as a significant step towards enhancing corporate governance and social responsibility in the region.
Anis Jaziri, president of the Tunisian-African Business Council (TABC), noted that this new structure could position Tunisia as a hub for a continental network of administrators' institutes, thereby solidifying African economic partnerships. The TABC plays a crucial role in fostering economic cooperation between Tunisia and other African countries.
Hatem Smiri, president of the Financial Market Council's College, stated that his council is working on establishing a legal framework for governance and ESG reporting tailored to the Tunisian financial market. This framework will draw on best regional and international practices to ensure effective implementation.
Ary Naïm, regional director of the International Finance Corporation (IFC), highlighted the partnership between the IFC and ITA, which began in 2023 and has led to the training of a network of certified trainers. He stressed that effective governance in companies' boards of directors relies on three key pillars: developing risk management strategies, being proactive in the face of change, and adhering to international governance and environmental and social responsibility standards.
The establishment of the African Institute of Administrators is also seen as vital for addressing the challenge of youth employment in Africa by 2050. With a focus on quality governance practices, the institute aims to support the development of a robust and sustainable economic environment.
The launch of this institute marks a significant milestone in the promotion of good governance practices across Africa. By working together, the member countries can enhance their economic cooperation, improve corporate governance, and create a more favorable business environment.
Key points
- The new institute will focus on promoting international norms in corporate governance and environmental and social responsibility.
- The institute's establishment is expected to position Tunisia as a hub for a continental network of administrators' institutes.
- Effective governance is seen as crucial for addressing the challenge of youth employment in Africa by 2050.
