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.

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.

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?

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.

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

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.

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;

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.

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.

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