The reason for good governance is to earn as much profits as you can in a sustainable way. In non-government organizations and public sectors, the reason for good governance is to deliver stakeholder value. There is no dilemma whatsoever unless there is conflict of interest, corruption and fraud. These are tell-tale signs of bad governance. In my position as the Secretary of the Institute of Corporate Governance of Uganda, we are creating environment of best practices to make sure that people understand how to run their businesses profitably and sustainably. When this is achieved, economies prosper, and people succeed. You…
World Bank Uganda Office: why not partner and engage with the private sector in furthering good governance?
What are the motives of World Bank local country offices? Why is World Bank adamant when it comes to partnering and engaging with the private sector especially in issues of furthering the enterprise governance discussion? The Association of Certified Fraud Examiners, Uganda Chapter is organizing the 2nd annual anti-fraud and good governance conference with a theme: Winning Partnerships against the Fraud Risk in the Public Sector. Aware that nothing eats shareholder value like fraud, on 8th September 2016, we sent a partnership and attendance invitation letter. It is unfortunate that World Bank Uganda office turned down the invitation! How does…
The role of the Board of Directors
The board of directors is the topmost decision making body, appointed by the shareholders (for a listed company or public entity) or owner of the business (in case of a private or family owned business). Public companies for example those listed on the Uganda Stock Exchange (USE) and those owned by Government of Uganda, must have a board of directors by law. The objective is to protect the interests of the general public and shareholders. Good boards are composed of people with diverse skills, experience and exposure to provide effective oversight for the long term success and growth. Instead of…