Online Reporter
Obey Musiwa
Herald Reporter
African leaders have called for corporate governance to evolve beyond regulatory compliance and become a catalyst for transformation, resilience and inclusive economic growth across the continent.
The call comes ahead of the Africa State-Owned Enterprises Corporate Governance Summit, which will be held in Maseru, Lesotho, later this month.
The summit, co-hosted by ICS Africa and the Institute of Directors Lesotho, will bring together policymakers, business executives and governance practitioners to share best practices and explore reforms aimed at strengthening governance in Africa’s state-owned enterprises.
Speaking in an interview, Lesotho Deputy Prime Minister and Minister of Justice Nthomeng Majara said effective governance is founded on leadership, accountability and ethical decision-making rather than compliance alone.
She said stronger governance systems are essential for improving the performance, transparency and sustainability of state-owned enterprises across the continent.
“Governance is not merely about structures, policies or compliance, it is fundamentally about leadership, accountability and service to the people,” she said.
“Across Africa, we must move from simply managing institutions to leading institutions that create value, stimulate investment, generate employment and contribute meaningfully to national development.”
Innotec Creative Solutions (ICS) Africa CEO Mr Tidings Chaitezvi said the summit is designed for practical execution and measurable outcomes.
“This summit is intentionally designed to bypass abstract theory in favour of practical, rigorous execution,” he said.
“We are establishing a rigorous nine‑month implementation and monitoring framework. This is to ensure commitments made in Maseru translate into tangible improvements in balance sheet health, operational transparency, and public service delivery.”
Institute of Directors Lesotho CEO Mrs Malehlohonolo Mahase said Lesotho’s governance heritage offers a unique lens and the Mohlomi Code provides a home‑grown framework.
“The Mohlomi Corporate Governance Code represents a cultural and strategic milestone, rooted in ethical, inclusive, and humane governance,” she said.
“Ultimately, IOD Lesotho envisions a Lesotho where corporate governance is not a code on a shelf but a lived practice in every boardroom.”
