Africa’s economy continues to develop under robust corporate governance principles
Most countries across Africa have robust corporate governance codes of practice at present, as economic prosperity increases across the continent. A new joint study by ACCA (the Association of Chartered Certified Accountants) and KPMG has found standards of corporate governance code are well aligned with OECD (Organisation for Economic Co-operation and Development) Principles of Corporate Governance released in 2015.
The report, Balancing Rules and Flexibility for Growth, focuses on 15 countries across Africa, and examines the corporate governance requirements for listed companies against the benchmark across four tenets of corporate governance. These are derived from the OECD principles and include: leadership and culture, strategy and performance, compliance and oversight, and stakeholder engagement. Governance requirements are assessed based on their clarity and completeness of content, degree of enforceability and availability of relevant requirements.
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