Institutionalizing IB/IGB support
A dedicated institutional structure will be set up to promote the implementation of the IB/IGB strategic program. This will include
- A mulct-stakeholder oversight board to guide the strategic directions and its implementation. The Board will be composed of 2-3 representatives from each of the 6 stakeholder groups (i.e. government, business association, .private sector IB/IGB company, impact investor, business facilitator, and development partner. Selected Board members can rotate on a yearly or bi-annual basis.
- A secretariat, chaired by AGI and co-chaired by MoTI , to coordinate the implementation of the program and stimulate partnerships.
- An accreditation committee to decide on which companies will qualify as IB/IGB. The committee is composed of 4 members each from the private (AGI, CAG, GCYE, SEGh) sector and the government (MoTI, GEA, MESTI, MoFA).
- An IDR-BCM committee deciding on support to companies and business facilitators under the IDR-BCM scheme, doing certification of dedicated IDR business coaches, and advising the Secretariat and the Board on further technical assistance needs. This committee will be represented by the Ghana Impact Hubs (Network GHN), the Enterprise Support Organization (ESO) collaborative, the Ghana Climate Innovation Center (GCIC) , and the Ghana Enterprises Agency (GEA) .
- An investment committee for endorsing the financial proposals for the risk reduction and social innovation fund. The committee is proposed to be composed of a representative each of Impact Investing Ghana (IIGh) the Venture Capital Trust Fund (VCTF), and Ministry of Finance and Economic Planning (MoFEP), as well as a consultant doing background due diligence work on the proposed deals and their social/environmental impact.
- Dedicated focal points (and their alternates) in government and other agencies to promote IB/IGB. And
- IB/IGB champions in multiple stakeholder agencies and companies coming together regularly (maybe 2 times a year) and in selected working groups to exchange on IB/IGB promotion.
The role and functions of the various institutional bodies is summarized in the chart aside.
