Implementing and Sustaining a National Corporate Governance Code for Zimbabwe

Corporate Governance Summit Crown Plaza Hotel – Harare 28 September 2009. “ Implementing and Sustaining a National Corporate Governance Code for Zimbabwe” INSTITUTE OF DIRECTORS ZIMBABWE o I D

Basics
Product
Marketing
Sales
Profits
Governance.

Value of a Corporate Governance Code
Code in not an end in itself nor does it have a life of its own.
Ultimate purpose in national development based on sound corporate :
Growth
Experience
Ethos
The three P’s balance – People, Planet and Profit.

Product definition – “The Code”
Broader context of corporate governance.
Registered multinational companies
Local registered companies;
Parastatals and state enterprises;
Small to medium enterprises;
Informal sector
How does the code add value to each sector in their own interest?

Implications of a national Code
Beyond individual organization enterprises.
Addresses national interests;
Addresses the impact of history on corporate governance;
Beyond today.

Implementing the Code
Market belief in the product:
Content
Quality
Relevance
Market appreciating of its value – RoI
Market commitment to its implementation

Sustainability of the Code
Remain relevant
Dynamic
Challenging
Instills market trust and confidence.

Implementation and Sustainability Process
Involve all relevant stakeholders in product definition
Involve stakeholders in product development;
Establish a home for the Code:
Neutral
Objective
Informed;
Business and Public sensitization;

Corporate Governance National Context in the future.
Creating a Corporate Governance environment
Mentorship – stakeholder network
Stakeholder registration requirements
Corporate Governance Education
Creating a critical mass to support the Code
Corporate Governance recognition
Monitoring and Evaluation of Corporate Governance compliance – reporting.

Conlusion
Corporate Governance Code is not a quick fix.
Corporate Governance Code succeeds within a corporate governance culture
Corporate Governance Code development must be complemented with a developing a conducive environment for it.
Corporate Governance code must resonate with national interests and international norms.
Corporate Governance Code is a long process.

Unleashing the power of the private sector Institute of Directors Zimbabwe THANK YOU

Implementing and Sustaining a National Corporate Governance Code for Zimbabwe

by AfricanFinancials on Sep 28, 2009

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Implementing and Sustaining a National Corporate Governance Code for Zimbabwe — Presentation Transcript