The Institute of Directors in Southern Africa (IoDSA) and the Mauritius Institute of Directors convened a collaborative network of private sector membership organisations to tackle issues of corporate governance in Africa, supported by the NEPAD Business Foundation. The network aims to provide a platform for institutions with common goals of developing and implementing initiatives responding to the unique corporate governance challenges. The inaugural meeting took place on 24-25 January in Johannesburg, and was sponsored by Standard Bank.
The impetus behind the formation of this network is the link between strong corporate governance, investment and business growth. "Africa is emerging as the continent of opportunity with a huge potential for growth-but to make that dream a reality, we need a continent-wide corporate governance framework," said Ansie Ramalho, CEO of the IoDSA. "We look forward to working with our peers across Africa to build on the solid foundation of the King Reports to create a continent that is truly investor-friendly."
"Mauritius has already established itself as a business and outsourcing hub, and is a case study of how an African country can identify and then use opportunity effectively-and we know that a strong corporate governance framework is a vital to build a solid economy that services global clients," said Jane Valls, Chief Executive Officer of Mauritius Institute of Directors. "There is much we can learn from each other as we develop frameworks appropriate to the conditions within each of our countries."
The countries involved in the network currently include: South Africa, Mauritius, Nigeria, Zimbabwe, Kenia, Tanzania, Malawi, Mozambique and Zambia.
The ACGN is creating a network of organisations whose combined efforts and programmes will accelerate the creation of a climate of progressive Corporate Governance in Africa. The ACGN believes this will enable greater levels of investment in environments which are of lower risk.
For more information contact: