Caribbean Governance Blog

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  • 29 Jun 2016 8:06 AM | Anonymous

    Chairman of the Caribbean Corporate Governance Institute (CCGI), Dr Axel Kravatzky, and Richard Frederick, Advisor on Good Governance, are interviewed by Fazeer Mohammed of TV6 on Corporate Governance of State Owned Enterprises in Trinidad & Tobago.

    CCGI partnered with the Embassy of the United States of America in this initiative and is grateful for the Embassy's financial and project support which made this visit of Richard Frederick to Trinidad & Tobago possible.

  • 22 Dec 2015 9:31 AM | Denise Deonarine
    The Caribbean Corporate Governance Institute ("the Institute") was pleased to have the opportunity to support the PSOJ by engaging in a Consultative Review of the Draft PSOJ Corporate Governance Code.

    In keeping with our pledge to keep our membership informed and to advance the principles of good corporate governance, we are happy to share our contribution that  was respectfully submitted to the PSOJ. We encourage their efforts and look forward to working with the PSOJ. Click here to read more at: 2015  PSOJ Code Review.pdf

    We wish to thank the PSOJ for this opportunity and the members of the Institute that contributed to this review. 

    If you are not a member, please step up and sign up by clicking our membership tab. We'd be happy to foster your drive to made a difference. 

  • 19 Nov 2015 11:00 PM | Administrator

    The Caribbean Corporate Governance Institute (“CCGI”) opened its arms to embrace a community that is passionate about improving regional standards of corporate governance.  The End of Year Networking Mixer entitled Charting the Course was held at the corporate office of CCGI on 14 Alcazar Street, St. Clair on November 19 2015.

    The mixer featured honoured guests that included Mr. Elton Prescott S.C. of M.G. Daly & Partners, Mrs. Amoy Chan Fong former Deputy Governor of the Central Bank, Mr. Tim Stew, High Commissioner of the British High Commission and key note speaker Mrs. Ingrid Lashley – Managing Director/Chief Executive Officer of the Trinidad & Tobago Mortgage Finance Company Limited.

    In her address, Mrs. Lashley indicted ”Good governance must begin with a code of conduct that speaks to respect and discipline and we, as messengers, must ensure that we do our part to ensure that the  message is broadcast until it becomes an integral part of our culture, our process and our lives”.

    Dr. Axel Kravatzky, Chairman of the CCGI reminded attendees “As we all know organizations that are well directed and controlled, perform better. The ultimate purpose of CCGI is for people across the Caribbean to experience their organizations and societies as well directed and controlled and they benefit from the fruits of their labour. CCGI’s work is powered by, consists of, and develops leaders you can trust. The other ingredient necessary for trust to grow is values. Values are the fundamental reason for us coming together as an Institute and as a community this evening. Welcome to the journey!”

    The event was held through the patronage of EY (Trinidad and Tobago) and Intercommerical Bank Limited of the JMMB Group. Attendees were tasked with cracking the 011415 Code that provided paramount excitement. Next year promises more events of this kind each with a riveting agenda.

    Step up and join up by visiting us on the web at by clicking our Membership Tab.

    Honoured Guest and Key Note Speaker: Mrs. Ingrid Lashley chats with Mr. Leslie Clarke and Mr. Ronnie Bissessar both Directors of the CCGI. 

    Mr. Leonard Birmingham of the Virgin Group chats with Dr. Axel Kravatzky, Chairman of the CCGI Mr. Richard Saunders Campus Registrar of U.W.I. 

    Denise Deonarine, Chief Executive Officer of the CCGI presents honoured guest Mr. Elton Prescott S.C with a token of appreciation. 

    Chief Executive Officer of the CCGI, Denise Deonarine presents honoured guest Mrs. Amoy Chan Fong with a token of appreciation.

    Mrs. Jacqueline Quamina Group General Counsel of Republic Bank and CCGI Director chats with Mr. Tim Stew, High Commissioner of the British High Commission and CCGI Member Jason Gordon. 

  • 04 Nov 2015 1:22 PM | Deleted user

    The CCGI Membership is steadily increasing.

    We would like to welcome the following new members to the Institute.

    • Adedayo Akande - University of Health Sciences Antigua 
    • Deborah Akande -  University of Health Sciences Antigua 
    • Keisha Baij-Ramsamooj- Intercommercial Bank Limited 
    • Robert Boopsingh- Eschaton Management Services Limited 
    • Karen Carew- Reinsurance Company of T&T Ltd (TRINRE) 
    • Vasantha Chase- Chase Consulting 
    • Randy Connor - RCC Barbados Kingdom 
    • Derrick W Cummins - J&T Bank and Trust 
    • Anthony Flynn - Lazarri and Sampson Ltd 
    • Jason Gordon - Caritrack Ltd 
    • Christina Hyatali - Reinsurance Company of T&T Ltd (TRINRE) 
    • Nicola Joseph - Independent
    • Colleen Murray - Independent 
    • Pernel Roberts - Trinidad and Tobago United Drag Races Association 

  • 04 Nov 2015 10:24 AM | Deleted user

    Denise brings with her over 12 years of experience in the business development, marketing and legal support services arena to the Caribbean Corporate Governance Institute. She is an alumnus of the University of London holding her BSc. Management (Hons.) and is currently pursuing her Bachelor of Laws.

  • 16 Oct 2015 12:00 PM | Administrator

    The Mandate - 1h:37min Radio Show

    Mariano Brown, former Minister in the Ministry of Finance of Trinidad and Tobago, and Dr Axel Kravatzky, Chairman of the Caribbean Corporate Governance Institute discuss the governance of state owned enterprises.

  • 15 Oct 2015 4:00 PM | Administrator

    I95.5 Drivetime - Importance of Corporate Reporting in Corporate Governance

    Chairman of the Caribbean Corporate Governance Institute (CCGI), Dr Axel Kravatzky, on importance of corporate reporting and corporate governance.

  • 15 Oct 2015 7:00 AM | Administrator

    CCN TV 6 Morning Edition - Trinidad & Tobago

    Chairman Dr. Axel Kravatzky speaks on the importance of Corporate Governance for the State Sector on CCN TV6 .

    "Having no common standard cannot help collective action"

  • 01 May 2015 10:00 AM | Deleted user

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    Written by Rani Lakhan-Narace

    Famous for its literary luminaries such as Derek Walcott and V.S. Naipaul and world renowned athletes like Brian Lara and Usain Bolt, the Caribbean is an international power-house of talent and potential. With a population of over 40 million, a strategic geographical location, and stable political climate, it has in the past been a magnet for foreign investment.

    However, over recent years, with the advent of globalization and other emerging markets and the financial crisis, the region has seen a lot of pressure on their small economies leaving both the private and state sectors no alternative but to focus on diversification, competitiveness and the development of new and stronger markets.

    In order to continue to attract foreign investors, and build strategic alliances, the Caribbean must quickly respond to the escalating attention on Corporate Governance as a prerequisite for those relationships to prosper. From Enron, to Lehman Brothers, to CLICO, Board of Directors are being held increasingly accountable for responsible leadership; and are under constant scrutiny by all stakeholders. More than ever, it is essential that Directors and Senior Executives have the relevant knowledge and capacity to perform effectively in this new environment.

    Currently, the level of Corporate Governance disclosure in the Caribbean does not meet international best practice compared to other emerging markets and as such there is an urgent need to provide capacity building and training to Directors and Officers of both private and public sectors. To this end, the Caribbean Corporate Governance Institute (CCGI) was formed and for the last three years, it has been working assiduously to fill this key gap in the region.

    The Institute has successfully developed a world class program, with an internationally recognized faculty, that focuses on strengthening Corporate Governance Leadership through Master Classes, and the Chartered Director Program.

    Additionally, the CCGI, as a membership organization with a current presence in Trinidad and Tobago, Barbados, Jamaica, St. Lucia, British Virgin Islands, provides forums for networking as well as for discussions and education on the latest issues that impact the business environment.

    Significance of Being a Chartered Director:

    Achieving the qualification of Chartered Director, means that a Director or Executive has demonstrated an internationally accepted level of competence in the key areas of Governance, Finance, Strategy and Leadership as it pertains to Board performance. The program provides an integrated system of learning which combines practical skills, knowledge and experience in a recognized and coherent framework which ensures that participants are also kept up to date on strategic issues and changes that affect organizations.

    As such, the Chartered Director is equipped to make a valuable contribution to any Board through a breadth of knowledge and experience that will increase the quality of stewardship that is being demanded of Boards in today’s dynamic landscape.

    The Chartered Director Program Structure:

    This program has been developed under the direction of CCGI’s, Director of Education, Dr. Chis Pierce who works with policy makers, directors and Boards in Europe, the Middle East, Asia, Africa, the United States and South America. He was the Director of Professional Standards and Professional Development at the Institute of Directors in the United Kingdom.

    To achieve Chartered Director status, one must complete the Certificate Program, the Diploma Program and the Final Chartered Director designation process. This in depth process ensures that Directors not only acquire the knowledge, but are able to put it into practice and be tested on such knowledge. Furthermore, Directors are taken through a peer-review process which allows a level of accountability within the local context. The Institute understands the busy schedules of its target audience, and as such designed a program that integrates a flexible schedule and learning modules including both in-person and online learning.  The diagram below demonstrates the progressive process to achieve Chartered Director status.  It begins with a Certificate Programme followed by a Diploma and Chartered Director Programme. At each stage there is a final assignment and examination process.  


    1. Certificate Program

    The Certificate Programme is a carousel style certification and consists of four parts which can be taken in any order: 
    Part 1 - Corporate Governance
    Part 2 - The Board
    Part 3 - Strategy & risk
    Part 4 - Corporate Reporting
    2. Diploma Program
    • Two Workshops
    • Followed by an assignment and an examination
    3. Chartered Director

    Requires Completion of Evidence-based assignment on Leadership at Board level.

    So whether you are currently a Director, or aspiring to be one, or an Officer such as Corporate Secretary, COO or CFO in the public sector, private sector or family business, this program can certainly and progressively increase your effectiveness in your particular role. In so doing, it will not only expand your competencies but also magnify your eligibility and credibility for other Board opportunities.

    The Chartered Director Program can move you, your Board and your organization from “Good to Great…..” and by doing so, contribute to stronger firms, stronger markets, and stronger economies.

    For more information about the Caribbean Corporate Governance Institute (CCGI) please contact:

    Desiree Gobin-Seecharan  
    Caribbean Corporate Governance Institute
    #14 Alcazar Street Port of Spain, Trinidad & Tobago
    T:   +1.868.221.8707
    F:   +1.868.221.5306
    M:  +1.868.774.3306

  • 19 Mar 2015 1:46 PM | Deleted user

    Mrs. Marlene Street-Forrest, General Manager of the Jamaica Stock Exchange, (JSE) advised corporate entities to always operate at the highest standards by making disclosures that will enable shareholders to apprise the position of the company and to avoid the establishment of a false market in the Company’s securities. The JSE General Manager was speaking at the Caribbean Corporate Governance’s (CCGI) one-day workshop held earlier this month, to explore the issues of best practices and board accountability, disclosures, audits and evaluations within corporate entities. “The fundamental principle is that all persons invested in a Company’s securities must have equal access to information which allow investors to have a better understanding of a Company’s Corporate Governance Practices,” Mrs. Street Forrest said. She emphasised that in keeping the communication lines open, disclosure of information to shareholders should be timely, factual and balanced with sufficient details to enable investors and the general public to appreciate the true substance and importance of the information. 

    Uncertainty as to when to disclose will arise and must be governed by what is considered material and some general test in respect to issues that may have a significant change in the market price, volume or value of the securities and unusual trading,” Street Forrest pointed out. In speaking to Best Practices Mrs. Carolyn DaCosta, Company Secretary of Jamaica Money Market Brokers (JMMB), panellist at the workshop, warned that non-disclosure of critical information on financial and operating results can negatively affect the branding of a company. “Almost all corporate governance codes around the world, specifically require that Board of Directors provide information on the current affairs of the business and their future development and succession planning,” said Mrs. DaCosta. Other speakers at the workshop included; Mr. Dennis Brown, Director CCGI and Institute of Chartered Accountants (ICAJ); Mrs. Suzanne Ffolkes-Goldson, Attorney-atLaw, Lecturer, UWI, Mona Campus; Mr. David Hall, President, Institute of Internal Auditors Ms. Ann Marie Rhoden, Deputy Financial Secretary, Public Enterprises Division, Ministry of Finance and Planning; and Dr. Axel Kravatzky, Chairman CCGI. The Caribbean Corporate Governance Institute is a not-for-profit membership based organization that provides world-class training, professional development, and networking for Directors and Senior Executives. The Institute works closely across various stakeholder groups to establish and maintain appropriate corporate governance standards and guidance for organizations and investors operating in the Caribbean. 

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