Experts highlight role of good corporate governance in Africa's growth
Good corporate governance should serve as an impetus to accelerate Africa's development, experts said Wednesday.
The 11th African Corporate Governance Network (ACGN) meeting is underway in Ethiopia's capital Addis Ababa from August 9 to 11 under the theme "Ethics in Business and Good Corporate Governance."
Said Kambia, Chairman of ACGN, said in his opening remarks that the African continent needs corporate governance to sustain the overall socio-economic development.
According to Kambia, the major target of the conference is to demonstrate, build and create the essence of corporate governance sprit in the continent.
Over 100 policy makers and company owners from 19 African countries are attending the conference that analyzes African firms' competitiveness in the market so as to enhance corporate governance and ethical leadership.
Eshetu Temesgen, president of Ethiopian Institute of Corporate Governance, told participants that ethics in business and good corporate governance are the main pillars to accelerate the ongoing development in Ethiopia and the rest of the African continent.
He also called on fundamental transformation in formalizing the business tradition as a crucial player to ensure full participation of the private sector in all business endeavors.
Meeting participants also emphasized the need to set up professional and accountable board members in Africa's business sector.
ACGN, with over 20,500 members of senior executives and directors drawn from 19 member countries, is a collaborative network that envisages the realization of effective corporate governance in the African continent.