Directors around the world share similar concerns and challenges as they look to the future for the organisations they govern. Governance is one of the top priorities of board chairs and executive management and recognised as critical to a company’s sustainability, shareholder value and investment attractiveness.
Good corporate governance, whether in a family business or large listed company, is crucial to unlocking value.
According to the OECD, while Middle East economies have made progress in strengthening corporate governance frameworks in recent years, the region still faces challenges in adopting and implementing measures that support the economic efficiency, sustainable growth and financial stability needed to foster development. With shareholders focussing on boards and regulators raising corporate governance standards, the development of directors is critical.
Since its launch in the Gulf Cooperation Council (GCC) in 2007, the GCC Board Directors Institute (GCC BDI) has helped directors and boards stay informed about their changing role in the dynamic regulatory environment. The not-for-profit organisation has recently launched a Director Certification Programme in partnership with The Financial Academy.
The programme has been designed to prepare directors for their roles, boost their knowledge and confidence, and empower them to make a valuable contribution to any board. Tailored to directors in the GCC region, the modules focus on knowledge, understanding, skills, mindsets, attitudes and values. Obtaining the Certificate in Board Directorship demonstrates an internationally accepted level of understanding of corporate governance.
In Africa, good governance and transparency is impacting the economic performance across the region. The recently introduced Nigerian Code of Corporate Governance was issued in 2018 by the Financial Reporting Council of Nigeria and advocates for stronger governance practices within companies and accountability to shareholders.
According to KPMG, considering the developing awareness and relatively low institutionalisation of leading governance practices in Nigeria, the implementation of the Code may be challenging for those who have not previously had to comply with any corporate governance codes.
Ethical Boardroom is proud to announce the winners of “Best Corporate Governance” in their respective industry sectors across The Middle East & Africa for 2019. The awards recognise the outstanding leadership from boards who have raised the bar to ensure that strong corporate governance plays an essential part in protecting and enhancing long-term value for all stakeholders. Our awards program is a vital part of our continuing mission to elevate corporate governance standards globally.
For those who have made it to the top of the mountain for 2019, we salute you for leading the way
MIDDLE EAST COMPANY AWARD WINNERS
| Best Corporate Governance | Financial Services | Bank Audi S.A.L |
| Best Corporate Governance | Utilities (State Owned) | Dubai Electricity & Water Authority (DEWA) |
| Best Corporate Governance | Mining | Saudi Arabian Mining Company (Ma’aden) |
| Best Corporate Governance | Transportation & Logistics | DP World |
| Best Corporate Governance | Leisure & Hospitality | DXB Entertainment |
| Best Corporate Governance | Telecoms | Oman Telecommunications (Omantel) |
| Best Corporate Governance | Insurance | Abu Dhabi National Insurance Co. (ADNIC) |
| Best Corporate Governance | Conglomerate | Saudi Basic Industries Corporation (Sabic) |
| Best Corporate Governance | Industrial Services | Aluminium Bahrain (Alba) |
MIDDLE EAST INDIVIDUAL AWARD WINNERS
| Best CEO – Industrial Services | Mr. Tim Murray | Aluminium Bahrain (Alba) |
| Best CEO – Telecoms | Mr. Talal Said Al Mamari | Oman Telecommunications (Omantel) |
| Best Company Secretary – Financial Services | Mr. Farid Lahoud | Bank Audi S.A.L |
| Best General Counsel – Transportation & Logistics | Mr. Arif Mahmood Mirza | DP World |
AFRICA COMPANY AWARD WINNERS
| Best Corporate Governance | Financial Services | Access Bank Plc |
| Best Corporate Governance | Construction Materials | Dangote Cement Plc |
| Best Corporate Governance | Mining | Anglo American South Africa |
| Best Corporate Governance | Conglomerate | The Bidvest Group |
| Best Corporate Governance | Holdings | FBN Holdings Plc |
| Best Corporate Governance | Telecoms | Vodacom Group |
| Best Corporate Governance | Insurance | Old Mutual Group |
| Best Corporate Governance | Oil & Gas | Seplat Petroleum Development Co. Plc |
| Best Corporate Governance | Food & Beverage | Nigerian Breweries Plc |
AFRICA INDIVIDUAL AWARD WINNERS
| Best CEO – Conglomerate | Mr. Lindsay Ralph | The Bidvest Group |
| Best Company Secretary – Financial Services | Mr. Sunday Ekwochi | Access Bank Plc |
| Best Company Secretary – Oil & Gas | Ms. Miriam Kachikwu | Seplat Petroleum Development Co. Plc |
| Best Company Secretary – Holdings | Mr. Oluseye Kosoko | FBN Holdings Plc |
Please note that the company & individual winners for “The Americas” region will be announced in the Summer 2018 edition.
