UKZN Extended Learning hosted their Corporate Governance Workshop in partnership with the Corporate Governance Framework Research Institute on Friday, the 2nd of September. The workshop brought the UKZN Extended Learning Business Advisory Board members and the UKZN Executive Management together to discuss topics affecting corporate governance.
Terry Booysen from Corporate Governance Framework was the facilitator for the day and spoke about how, “good corporate governance is about intellectual honesty, effective leadership and not just sticking to the rules and regulations.” Topics that were discussed were the shifting dimensions of Corporate Governance, where before there was more of a focus on shareholders and the private sector, there is now more of a focus on stakeholders and the public sector.
Governance crisis in South Africa poses significant risks to the country’s sustainability and issues that pose a concern include: business confidence, strikes, social unrest, competitiveness, employment, corruption and political uncertainty. Improvements, however, have been made since 1994 including Audit Systems, the black middle class, life expectancy, financial market stability and the increase of formal dwellings.
“If you are over governing, that in itself is poor governance.” Terry Booysen exclaimed. The day ended on a positive note with all attendees determined to practice good governance within their organisations.