Monthly Archives: July 2014
This is the story of two family businesses, in Colombia and Egypt, that show the people and policies behind their longevity and success. Family businesses are the oldest and most prevalent form of business in the world. In many countries, family businesses represent up to 70 percent of the economy and play a big role in employment, growth, and quality of life.
The African Corporate Governance Network (ACGN) was founded in 2013 to promote corporate governance by developing the corporate governance capabilities of its institutional members, by creating a forum to exchange views and by acting as advocate for corporate governance in both government and civil society. The ACGN will also conduct research and store information on corporate governance.
Corporate Governance fervor was gaining ground in the Middle East and North Africa (MENA) region ever since the turn of the Century. All states in the region had embraced corporate governance in some shape or another. Governments across the region adopted corporate governance in an effort to draw foreign direct investments, enhance international competitiveness and investment climate, as well as develop their capital markets
With so many governance scandals reported on an almost daily basis, having an independent board member or members is not only considered 'best practice' but may also lead to huge benefits and considerable long term value for the company in the process. A successful board, as you know, should facilitate effective, entrepreneurial and prudent management skills.
Nigerian companies ceased the practice of selecting board members mainly on political considerations such as an ability to influence government policy in favour of the company? Is Corporate Governance in Nigeria now ensuring true board effectiveness and independence? Have board selection criteria and system for board performance evaluation improved?