Angela Cherrington - CEO of the IoDSA, Natasha Katuta Mwila, Prudence Zimbwa, Christine Fourie, Mikaeel de Main, Deirdre Botha, Ansie Ramalho - King IV Project Lead at the Institute of Directors in Southern Africa (IoDSA), Zukisa Xotyeni - Deputy Director: Investments at the UIF
The 2018 African Governance Showcase, an annual competition for the best African corporate governance study, has been won by Mikaeel de Main for a case study entitled “Caffeine, Critics, and Crucial Decisions—A fictional account of ABSA and its shared value approach to corporate citizenship”. The competition is run by the Institute of Directors in Southern Africa (IoDSA) and the International Finance Corporation, and sponsored by the Swiss State Secretariat for Economic Affairs.
Second place went to Christine Fourie, Deirdre Botha, and Teboho Maruping for the case study “Unemployment Insurance Fund (UIF): Bird flu infects UIF financials”, while third place was shared by Prudence Zimbwa for “A company board of directors: a nuisance or a necessary burden?” and Natasha Katuta Mwila for “An internal control dilemma at Sheys360 (a Zimbabwean SME)”.
The first place award-winner received a cash prize of R30 000, while second and third place winners received R25 000 and R20 000 respectively. The top award winners also received free membership of the IODSA for three years and a profile in Directorship magazine.
The awards were presented at a function on 21 November 2018 by Professor Mervyn King, the convenor of the King Committee.
Angela Cherrington, CEO of the IoDSA, says that the competition was instituted to develop a body of good case studies that reflected the challenges and successes in corporate governance across the continent. It is open to global submissions across all areas of African corporate governance; case studies must be based on the experiences of organisations that could be expected to, or chose to, apply the principles either of the King Reports on Corporate Governance or the corporate governance codes application to the country in which the organisation operates.
“Case studies demonstrate how corporate governance is used well or badly in practice,” she points out. “They offer a great way for people to understand more deeply how the principles of corporate governance should—or should not— be applied, and what the results can be. The African Governance Showcase is creating an invaluable library of African corporate governance in action; this year’s winners add to the growing body of case studies on which African organisations can learn.”
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