“This Government is committed to the reform of our Statutory Bodies and State-Owned Enterprises to ensure that they deliver their mandate in a professional, efficient, and effective manner.” That declaration was made by Minister for Finance Hon. Dennis Cornwall when he addressed the newly accredited Directors of 7 State-owned Enterprises (SoEs) and Statutory Bodies (SBs) on Wednesday, 14 June 2023.
It was held at the Coyaba Beach Resort.
The Directors’ Education and Accreditation Programme Reception and Presentation of Certificate Ceremony celebrated the success of the first cohort of 25 directors who, in February 2023, undertook the rigorous training and assessment of Directors’ Education and Accreditation Programme (DEAP) of the Chartered Governance Institute Canada (CGIC). It was done in collaboration with the Eastern Caribbean Securities Exchange (ECSE).
Delivering the keynote address, Chairperson of the Integrity Commission Ambassador Gillian Bristol pointed the accredited directors to the mandate of the Integrity Commission to inter alia, “…. ensure integrity in public life.” She expressed confidence in the benefits of directors training, asserting, “It is testimony to a strong sentiment throughout Grenada that there must be integrity in public life, in governance. I am confident that the Directors are mindful of the gravity of the trust placed in them and that they will, especially with the benefit of the education they have now received, execute their charge with all integrity.”
An equally significant development on Wednesday evening was the creation of a platform to ensure that directors can network and develop themselves, with the launch of the Grenada Association of Accredited Directors (GAAD).
This initiative is spearheaded by Director Vincent Roberts, Accredited Director (Chairman of National Telecommunications Regulatory Commission NTRC). In his address, Interim Chairman of GAAD, Director Roberts highlighted the thinking behind its establishment, postulating that “The formation of GAAD reflects the recognition that effective corporate governance is vital for the sustainable growth and success of businesses. By bringing together accredited directors, the association aims to create a platform for networking, knowledge sharing, and capacity building. This collective effort will undoubtedly contribute to raising the overall standard of corporate governance practices in Grenada.”
The first cohort of 25 Accredited Directors is from:
- National Water & Sewerage Authority (NAWASA)
- National Telecommunications Regulatory Commission (NTRC)
- Grenada Electricity Services Ltd (GRENLEC)
- Grenada Investment Development Corporation (GIDC)
- Grenada Bureau of Standards (GBS)
- Financial Complex Limited (FCL)
- Grenada Development Bank (GDB)
The Directors’ Education and Accreditation Programme (DEAP) was developed in 2007, by the Chartered Governance Institute of Canada (CGIC) (then the Institute of Chartered Secretaries and Administrators/Chartered Secretaries Canada), in partnership with the law firm of Borden Ladner Gervais, with contributions from AON Canada. The DEAP is offered in the Caribbean by the Eastern Caribbean Securities Exchange Limited (ECSE), in collaboration with the CGIC, as part of the ECSE’s efforts to promote good corporate governance standards in the Caribbean.
The second cohort of 25 directors of State-owned Enterprises (SoEs) and Statutory Bodies (SBs) was trained 8 – 10 May 2023. The third cohort will be trained 17 – 19 July 2023.
GIS
Oh boy here we go again as we try and set benchmark for those who have no intention in seeing them through.
There are some well established representation in the mix but a few that needs real help on re structuring their own department.
And I make reference to mostly the government sector who needs the help most.