• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

ACGN urged to accelerate creation of common code of corporate governance for African firms

4 years ago
in Business, Editor's pick, highlights, Home, home-news, latest News, Lifestyle
2 min read
0 0
0
97
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

ACGN urged to accelerate creation of common code of corporate governance for African firms

Founding member and past president of the Institute of Directors of Zambia (IoDZ), Dr Patrick Chasinga, has called on the Africa Corporate Governance Network (ACGN) to accelerate the creation of a common guide of corporate governance for companies across the continent.

According to Dr Chasinga, this is necessary for the ACGN to expand its frontiers across the continent.

“ACGN needs to accelerate the pace towards the development of a common guide of corporate governance principles and practices across Africa, so it can expand its frontiers to all companies across Africa,” he stated.

Dr Chasing made the above statement during the virtual maiden edition of the IoD Chairs Forum themed Development, Growth and Practice of Corporate Governance in Zambia and under the auspices of the ACGN.

The African Corporate Governance Network (ACGN) is a collaborative network of director membership organisations that promote effective corporate governance on the African continent.

It has 19 members and 9 affiliate members from 19 African countries representing over 20,500 senior executives and directors across the continent.

RelatedPosts

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

Giving a brief history of corporate governance development in Zambia, particularly with regards to the operations of State-Owned Enterprises (SOEs), Dr Chasinga remarked that prior to the corporate governance reforms that saw Zambian SOEs become profitable, some challenges in the governance of SOEs included;

• Poor performance monitoring

• Unsatisfactory return on investment

• Unprofitable SOEs which drained the national budget

• Lack of sound corporate governance practices by SOEs.

Read Also: From the History Books: The rethinking of the International Monetary System

The reforms in corporate governance practices in Zambia lead by the IoDZ however, resulted in the following;

• Development of a code of corporate governance

• Civil servants where no longer appointed to chair boards of SOEs

• Board members of SOEs drawn from the private sector

• Enhanced transparency in board appointments

“Reforms in corporate governance led to SOEs becoming profitable and declare dividends, also corporate governance compliance has become mandatory,” he stated.

“Much has been done to raise the bar on corporate governance in the last 20 years in Zambia, but more needs to be done. For instance, Cabinet members still have the free hand to dissolve SOE boards subjectively and at will and this has to change,” he added.

Source: norvanreports
Tags: ACGN urged to accelerate creation of common code of corporate governance for African firmsAfrica Corporate Governance NetworkCovid-19ghanaState-Owned Enterprises (SOEs)
No Result
View All Result

Highlights

IMF Urges Lebanon to Deepen Reforms Amid Fragile Rebound and Banking Sector Challenges

GCB Bank Outlines Post-IATF Path to Powering Africa’s Trade Future

AGI Raises Alarm Over Weak Consumer Demand Despite Signs of Economic Recovery

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report

IFRIG Announces 4th Edition of Non-Interest Finance International Conference

Russia Finally Moves Forward on its Long-Awaited Nuclear Deal With East Africa’s Largest Economy

Trending

Features

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion

September 26, 2025

Bitcoin Drops to $109K as Crypto Market Loses $200 Billion Bitcoin fell to a four-week low, dipping...

AI in Africa: 5 Issues That Must be Tackled for Digital Equality

September 26, 2025

ECG Posts Record Monthly Revenue of GHS 1.74bn for July

September 26, 2025

IMF Urges Lebanon to Deepen Reforms Amid Fragile Rebound and Banking Sector Challenges

September 26, 2025

GCB Bank Outlines Post-IATF Path to Powering Africa’s Trade Future

September 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.