By Jane Valls, chairperson of African Corporate Governance Network
Africa’s current shortage of experienced and skilled directors is one of the chief hurdles to the strengthening of its corporate governance capabilities. It is against this background that we encourage and supports corporate governance bodies and association.
Recently, we welcomed the Institute of Corporate Governance Ethiopia in our last meeting in Dar es Salaam and the Institute of Corporate Governance of Tunisia as members. The Ethics Institute of South Africa and the Association of Chartered Certified Accountants have also become our associate members.
The continent’s economies are very diverse in terms of economic and political maturity, and there is no continent-wide standard of corporate governance. I’m confident that together with our members, associates, partners and corporate governance bodies, we will build a robust corporate governance standard that can one day be accepted and adopted continent wide.
The African Corporate Governance Network (ACGN) has a critical role to play in lobbying legislators, as well as educating both the private and public sectors about the benefits of corporate governance.
In all, 11 countries were represented at the meeting (Tanzania, Kenya, South Africa, Mauritius, Uganda, Nigeria, Mozambique, Zimbabwe, Zambia, Ethiopia and Tunisia), while the ACGN has now grown to represent a total of 14 countries, indicating how broad the support for the ACGN initiative is.
CEO of the Institute of Directors in Southern Africa (IoD), Angela Oosthuizen, has praised our growth and expansion.
The ACGN was founded in 2013 to help build capacity in corporate governance across the continent, so building better organisations and corporate citizens across Africa. Its members are united in their belief that strong corporate governance is essential to successful, sustainable companies and thus holds the key to African economic growth.