“Developing a suitable system of corporate governance is an important priority for Africa. Corporate governance is underdeveloped on the continent – outside particular pockets – but the emerging system reflects a mix of universal and distinctly African elements. Central
to the latter is the recognition that corporate governance demands
consideration of the interests of stakeholders beyond businesses, and
that socio-economic rather than purely financial criteria should measure
their activities. South Africa’s King Code is a trendsetter here. Going forward, Africa needs to nurture its corporate governance system with an eye to what is possible for its emerging business sector, so that the demands are realistic and contribute to business growth.”
