Corporate Governance Concept Paper

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Corporate Governance Directorate Concept paper: o Large sums of funds have been flowing into Africa in the form of aid but there have been problems of accounting properly for the money and the poorest of the poor rarely get a piece of the cake. o Either leaders or company directors abuse large sums of public funds. o There have been some corporate governance scandals in the US, EU and some lessons from these countries should be used to create unique corporate governance solutions to address the African Corporate Governance problems and at the same time comply with the international standards on corporate governance. o In order to address some of these problems, Southern Africa needs to put in place good corporate governance frameworks to ensure that there is transparency, accountability and responsibility in the public and private sectors. o It is common cause that if there is no adherence to good corporate governance in the public sectors, the public will not get the best value for their money and service delivery will be poor. o Similarly, corporate governance practices are needed in the private sector to protect the shareholders/stakeholders from abuse of power by company directors. o If Southern Africa does not adhere to good corporate governance practices, investments will flow elsewhere. o CGICE will be responsible for conducting research and promoting best practices on corporate governance and assist the public and private sector to comply with these standards in letter and spirit and not just engage in ‘box ticking’. CGICE will assist the firms with relevant information needed to access the global market. o Tariffs have been reduced to near deminimis levels but a plethora of non-tariff barriers have arisen affecting mainly developing countries in Africa. o Innovative solutions must be found to address these new barriers to trade and assist Africa to develop competitiveness in order to compete globally.

o The key challenge is on how Africa can address a series of supply-side constraints that it is facing in order to produce value added goods consistently and meet the global safety and quality requirements. o The institution will be working with donors and other international institutions to mobilize resources to address these issues and conduct diagnostic studies, which will be used to shape national, regional and global rules on trade and investment to ensure that Southern Africa claims its rightful share in the global trading system. o A lot of assistance will be required in monitoring and enforcement of the regional Trade Agreements such as SACU, SADC, COMESA and the Economic Partnership Agreements to ensure that they promote regional integration and development. This will be necessary especially if Africa is to realize its dream of creating an African Union. Trade, Investment and Corporate Governance will play a vital role in this process. o CGICE will promote research in trade, investment and corporate governance to ensure that Africa realizes its goal of economic growth and development with a view towards alleviating poverty. o Concisely the centre will promote research and offer courses in trade and investment to equip Africa with the relevant skills and knowledge that is needed to promote trade and investment and sound corporate governance with the objective of contributing to sustainable economic growth and poverty alleviation. How we work; The Centre Of Excellency carries out its work by means of policy- linked research, training, technical cooperation, capacity building, publications, conference activities advocacy and advisory. It collaborates with governments, intergovernmental organizations, academics, students, business community, civil societies and public communities. Funding; We are able to accomplish this project only by sourcing funding/sponsorship from partnerships/alliances, regional and international institutions, corporations, NGOs, Governments, business communities and well-wishers.

We are appealing for any form of funding/sponsorship/partnership for the success of this nonprofit making public interest organization. Enhance your social responsibility by collaborating with CGICE for a good cause. Visit our web site www.southernafrica-cgice.org. Capacity: We are a dedicated team of International Lawyers, Business Strategists, Public Health and Corporate Governance Professionals with a network of consultants and academics operating locally and internationally with the common objectives. Interested professionals are welcome to submit their resume or articles via our web site www.southernafrica-cgice.org Prepared by; Corporate Governance directorate team.