The Addis Ababa Chamber of Commerce and Sectorial Associations (AACCSA) has launched the Institute of Directors (IoD) in Ethiopia. The IoD, the first of its kind in Ethiopia, seeks to advance good governance by making effective use of resources, abiding by rules and regulations, promoting openness, and developing capacity.

To improve the performance of the private sector, bring about a major change in knowledge and experience, and modernize activities to establish a favorable business ecosystem—which is essential to foster national prosperity—the IoD will conduct a variety of training programs.

Directors are essential in promoting public benefit, high level skills, knowledge, and international competency as well as in making critical decisions that respect welfare and prosperity and influencing organizational behavior and culture, according to Mesenbet Shenkute, president of AACCSA. The Director-General of the Ethiopian Capital Market Authority, Biruk Taye, stated that the IoD would play a crucial role in the capital market in Ethiopia and support business leadership to strengthen the nation's economy. IoD Chairperson from Kenya Nelson Kuria also expressed his willingness to assist in such initiatives.

Participants from a range of sectors, including the government, non-government organizations, commercial sectors, civil society organizations, and other stakeholders, attended the launching ceremony.

Source: The Ethiopian Herald