EZULWINI –Former Prime Minister, Dr Absalom Themba Dlamini has warned that Boards become organisational risks when they commit ‘10 deadly sins’ that erode governance, accountability and long-term sustainability.
The presentation, delivered on his behalf by Central Bank of Eswatini Governor Dr Phil Mnisi during the corporate governance breakfast meeting hosted by REDI, a local consultancy firm led by Dr Sikhomba Gumbi held at the Happy Valley Hotel yesterday, served as a foundational call to action for the country’s captains of industry.
Addressing an audience of Board Chairpersons and CEOs, the Tibiyo TakaNgwane Managing Director Dr AT Dlamini leveraged his extensive experience as a veteran chairman and former head of government to highlight the fragile state of modern corporate governance.
Dr Dlamini redefined corporate governance not merely as a set of rules, but as the vital ‘method by which companies are directed and managed’ to balance socio-economic goals with individual and societal objectives.
He emphasised that when governance is applied correctly, it offers sustainable solutions to a litany of management-level challenges.
However, the former prime minister did not mince words regarding the consequences of failure.
He linked poor governance directly to the ‘ills’ currently plaguing both public and private sectors, including corruption-fueled service delivery failures, dysfunctional institutions born of ‘skill misalignments’ and the use of public entities as vehicles for self-enrichment.
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New era: The Institute of Corporate Directors
EZULWINI – In a landmark move for the kingdom’s business landscape, the presentation also served as the official launch of the Institute of Corporate Directors.
This new body is tasked with championing the national ambition of professionalising corporate governance and strengthening ‘credible leadership’ across all sectors of the economy.
“I believe that I would have done justice to this topic if I provoked some or all of you to challenge or review your own perspectives and conduct,” Dr Dlamini’s speech concluded, marking a pivotal moment for Eswatini’s corporate evolution.
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