Africa-Press – Botswana. Organisations have been urged to adopt effective governance mechanisms that enhance performance and foster long term value creation.
Delivering a keynote address at the 2nd annual corporate governance summit in Kasane on recently, the Minister of Justice Mr Machana Shamukuni said organisations should commit to upholding the highest standards of governance and operate with integrity and transparency.
He said this year’s theme, Re-Imagining Corporate Governance in Enhancing Company’s Performance in Turbulent Times, was of profound significance to organisations as they navigated through uncertainty and volatility to overcome emerging risks presented by constant evolution of the business landscape.
“As we embark on this journey of re-imagining corporate governance, let us challenge conventional norms, embrace change, and leverage emerging technologies and best practices to propel our organisations towards excellence.”
Mr Shamukuni said the summit was an opportunity for delegates to strengthen their governance framework, uphold principles of accountability, and steer their respective organisations towards a future defined by trust, sustainability, and success.
He said effective governance served as a cornerstone that aligned the interests of stakeholders, mitigates risks, and drove sustainable growth.
The minister said instilling trust, transparency, and accountability at the core of organisation’s operations, laid a solid foundation for building resilience and creating long-term value for all stakeholders.
He said instabilities should not be viewed as a threat, but opportunities to innovate, evolve, and transform governance frameworks to meet the demands of the dynamic business environment.
The Executive Chairperson of Exclusive Human Capital Consultancy (EHCC), Mr Joe Ndadi said as a human capital firm they noted that corporate governance in various institutions in Botswana was compromised hence organised this summit to close that gap.
He said the summit offered training delegates on corporate governance frameworks, ethics and fairness, managing conflict between board of directors and executives and involvement of shareholders.
Mr Ndadi said EHCC had observed that private companies were training their board members and executives abroad on corporate governance while there were qualified experts in Botswana who could provide training.
He pointed out that the summit would discuss topics such as, rights and responsibilities of shareholders, role of board members in corporate strategy of State Owned Enterprises, and the importance of gender diversity in corporate boards.
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