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Performance of Namibian SoE’s. A Corporate Governance Perspective Daniel Motinga FNB Group Economics. Aligning broad stakeholder interest Ensure that firms are run to the benefit of all stakeholders

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performance of namibian soe s

Performance of Namibian SoE’s

A Corporate Governance Perspective

Daniel Motinga

FNB Group Economics

corporate governance defined
Aligning broad stakeholder interest
  • Ensure that firms are run to the benefit of all stakeholders
  • Relationship btw internal governance and society’s conception of corporate social accountability
  • Ultimately to overcome problems of agency in terms of the separation of ownership and control
Corporate Governance Defined
new king iii requirements
Integrated annual report
    • Focus on economic, environment and social spheres
  • Audit committees
  • Internal Audit
  • Formal risk management processes
New King III Requirements
key unresolved issues
Disclosure of annual financial information
    • Operational efficiency
    • Openness and transparency
    • Timely disclosure on all material matters
  • Board selection and value add
    • Contribution to strategic direction
  • Dependence on tax payer support
    • Operational sustainability
    • Going concern status
  • Ready for Risk based management
    • Do we have the right skills?
Key unresolved issues
food for thought
Disclosure should become non-negotiable
    • Accountability and transparency
    • Timely, regular and reliable
    • Financial, environmental and social (triple bottom-line)
  • Independence of board of directors
    • Management and political control
  • Balanced private & public enterprise
    • Identify winners and losers
    • Net contribution to total economy
Food for thought
cross country research support sa ghana nigeria kenya jour st ec econometrics 2008
Size of board and intensity positively impacts performance
    • Range of expertise/ merit appointments
    • Less dominance by CEO
  • Board meeting frequency does not necessarily enhance performance
    • Higher frequency implies crisis
  • Audit committee characteristics are supportive of performance
    • Presence of AC serves as an assurance mechanism to promote fairness and transparency
    • Independence of an audit comm’t not significant in performance enhancement
    • Frequency of audit comm’t meetings has a positive and significant impact on performance
Cross Country Research Support (SA, Ghana, Nigeria, Kenya) – Jour St Ec & Econometrics, 2008.