ETHICS IN BUSINESS, CORPORATE GOVERNANCE WILL ACCELERATE AFRICA’S DEVELOPMENT

ADDIS ABABA, Ethics in business and good corporate governance will help accelerate sustainable development in Africa, says the Chairman of the African Corporate Governance Network (ACGN), which is holding its 11th annual conference here.

Speaking at the opening of the conference Wednesday, he said Africa needed greater corporate governance to sustain the overall development of the continent and the conference aimed to demonstrate, build and create the essence of the corporate governance spirit.

Panel discussions focusing on corporate governance in Africa and lessons learnt in corporate governance through African case studies at entity and regulatory levels would form part of the programme for the three-day conference, which is taking place under the theme, Ethics in Business and Good Corporate Governance.

Ethiopian Institute of Corporate Governance (EICG) President Dr. Eshetu Temesgen said ethics in business and good corporate governance are the main pillars to accelerate the ongoing development in Ethiopia.

Ethiopia’s business community and private sector, despite its high potential for growth and diversification, remains under-developed due to the low level of formalization in business structures and relations, Dr. Eshetu noted.

He said that fundamental transformation in formalizing the business tradition and culture and the introduction of balanced structure was of crucial importance to ensure full participation of the private sector in all business endeavours.

Source: NAM NEWS NETWORK

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