International Co-operation: Part 1: IOD Networks. Sharing the Experience of the African Corporate Governance Network UNLOCKING AFRICAN POTENTIAL

Transcription

1 International Co-operation: Part 1: IOD Networks Sharing the Experience of the African Corporate Governance Network UNLOCKING AFRICAN POTENTIAL

2 Jane Valls CEO and Chairman ACGN

3 ACGN 10 Founding Members: Institute of Directors Kenya Institute of Directors in Malawi Mauritius Institute of Directors Institut Marocain des Administrateurs Institute of Directors Mozambique Institute of Directors in Southern Africa Institute of Directors in Tanzania Institute of Corporate Governance of Uganda Institute of Directors of Zambia Institute of Directors Zimbabwe

4 New members and partners IOD Nigeria joined in February 2014 IOD Senegal Targeting: Algeria, Botswana, Cote d Ivoire, Egypt, Ethiopia, Ghana, Namibia, Seychelles, Tunisia Partners, affiliates and collaborators: NBF, Webber Wentzel, IFC, FITC Nigeria, ACCA, EY, EthicsSA, ASEA, ESSEC, Standard Bank, World Bank

5 WHY? According to the International Monetary Fund, Africa will host seven of the top ten fastest growing economies in the world in the next five years. With the current focus on growth and development in Africa, good corporate governance and capacity building in this area, is vitally important. The ACGN was formed to develop institutional member capacity for enhancing effective corporate governance practices, building better organizations and corporate citizens in Africa. The ACGN will provide policy makers and market participants with an important forum to exchange experiences and best practices aimed at addressing ongoing corporate governance challenges in Africa.

6 HOW? MIOD, IODSA and NBF and IODZ 1 st Meeting JNB Jan13 rationale, VMGV 2 nd Meeting HRE May 13 Draft Constitution and Operating Procedures Launch and signature at 3 rd meeting in Mauritius Oct 13 Executive Committee and Sub-Committees 4 th Meeting NBO Feb 14 IOD Nigeria; Sub Committee meetings

7 Our Mission and Vision Mission To develop the institutional capacity of ACGN members for enhancing effective corporate governance practices towards building better private and public sector organisations and corporate citizens in Africa. Vision Africa, a continent committed to effective corporate governance and ethical leadership. Our Values Values Transparency Being open and clear Integrity Ethical behaviour and consistency of actions and values Teamwork and Collaboration Leveraging collective knowledge Accountability Being answerable to stakeholders Diversity Being respectful of the diversity of the African continent

8 Objectives Exchange and share knowledge, information, best practices tools and resources. Demonstrating good practice within member organisations and network Building sustainable capacity to enable membership organisations to achieve their goals Common platform for advocacy, initiatives and communications Expand the network Create a favourable investment climate (outcome) Conduct research.

9 4 KEY FOCUS AREAS 1. Research Baseline study repository of information on corporate governance in Africa EY support 2. Advocacy Stakeholder engagement and mapping Lobbying for improved corporate governance after research completed

10 4 KEY FOCUS AREAS 3. Collaboration Sharing of tools and best practices MOU s with key stakeholders 4. Capacity Building Assessment of each member Develop action plan, training, coaching and mentoring IFC has been approached for support

11 3 SUB-COMMITTEES Advocacy and Research Capacity Building and Membership Collaboration and Funding 2 meetings pa Next Meeting DAR 24 July 2014

12 What have we achieved so far? Core group - 11 IODs Framework - MVVG, Constitution and Operating Procedures Sub Committees and clear focus areas Clear vision, development strategy and direction Partnerships Sponsorship Website

13 ACGN ~ together representing the voice of over 11,000 directors and senior executives in Africa

14 Strengths and Benefits Sharing Collaboration Capacity building and learning Networking and ability to leveraging relationships Mentoring PR Combined membership Strength - being part of a bigger picture Combination of experience and knowledge Use of available tools for training, development and education Common vision Commitment and bottom up approach i.e. home grown initiative Cultural richness in diversity

15 Challenges and Opportunities Size of Africa Many countries do not have any bona fide IOD or institutional capacity Different levels of maturity Communications Finance/funding Resources Lack of political buy-in Cultural sensitivities Growth of membership Strengthening of credibility, integrity, influence, innovation and research International organisations that are willing to support

16 Challenges facing corporate governance reform in Africa Corruption Lack of institutional capacity Regulatory issues Inactive shareholders State owned enterprises Board weakness One-size fits all governance codes Political instability Sustainability