Online Reporter
Obey Musiwa
Herald Reporter
AFRICAN leaders and corporate governance experts from Lesotho and Zimbabwe have called for governance systems that go beyond compliance to become drivers of 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, executives and governance practitioners to explore reforms aimed at improving the performance of Africa’s state-owned enterprises.
Speaking ahead of the summit, Lesotho Deputy Prime Minister and Minister of Law, Justice and Parliamentary Affairs, Nthomeng Justina Majara, said governance should be viewed as a vehicle for leadership, accountability and service delivery rather than merely a compliance exercise.
“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.”
ICS Africa chief executive officer Mr Tidings Chaitezvi said the summit had been designed to focus on implementation and measurable outcomes rather than theoretical discussions.
“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.”
Mr Chaitezvi said the framework would help participating institutions track progress and ensure that resolutions adopted at the summit translate into real reforms.
Institute of Directors Lesotho chief executive officer Mrs Malehlohonolo Mahase said her country’s governance experience offered valuable lessons for the region, particularly through the Mohlomi Corporate Governance Code.
“The Mohlomi Corporate Governance Code represents a cultural and strategic milestone, rooted in ethical, inclusive, and humane governance.
“Ultimately, IOD Lesotho envisions a Lesotho where corporate governance is not a code on a shelf but a lived practice in every boardroom,” she said.
The summit is expected to explore strategies for strengthening accountability, enhancing operational efficiency and improving public service delivery through sound corporate governance practices.
Governance experts say improving the performance of state-owned enterprises is critical to accelerate economic growth, attracting investment and ensuring efficient service delivery across Africa.
