Corporate governance comes under scrutiny

THE corporate world exists to serve the public, therefore the overriding goal for any company is to consistently generate a competitive return on investment for its owners by increasing the value of their investment.

Good governance is the means of ensuring adequate control over the strategy, direction and operations of any organisation in achieving its key objectives, said the key speaker at a two-day training session on corporate governance, Professor Osmun Mwandumeli. “In essence corporate governance refers to the collective means of ensuring that all corporate assets, resources and actions are directed at, and controlled in the achievement of established corporate objectives,” Mwandumeli said.He added that Namibia is a small country with a small economy and a small pool of individuals to nominate and select directors from.”Good corporate governance is an important issue because among others, the public has real interest and enterprises must be seen to be transparent.The quality of corporate governance has come under increasing and critical scrutiny both locally and internationally, you only have to open any local newspaper to notice the enormous interest”.”In essence corporate governance refers to the collective means of ensuring that all corporate assets, resources and actions are directed at, and controlled in the achievement of established corporate objectives,” Mwandumeli said.He added that Namibia is a small country with a small economy and a small pool of individuals to nominate and select directors from.”Good corporate governance is an important issue because among others, the public has real interest and enterprises must be seen to be transparent.The quality of corporate governance has come under increasing and critical scrutiny both locally and internationally, you only have to open any local newspaper to notice the enormous interest”.