• Business and corruption

Business and corruption

Can good corporate governance explain the private sector’s efficiency in service service delivery and production? This report compares the corporate governance of a private and a public institution in Swaziland; Nedbank and the Ministry of Enterprise and Employment, respectively.

The evaluation is based on the good corporate governance principles of responsibility, accountability, fairness, social responsibility, independence and transparency. Study findings reveal that: 


• the private sector out performs the public sector in good corporate governance

• the public entity lacks social responsibility

• Nedbank is more transparent

• decision makers in both the sectors are accountable, yet the private sector outweighs the public one.


Key recommendations include: 


• invest in corporate continuous activities that enhance good governance, such as seminars, workshops, and training events

• enhance the scope, accuracy and timeliness of financial reporting by creating a more authoritative board
 
• enforce accounting standards to avoid unreliable reported earnings, cash flows and balance sheet

• improve disclosure requirements and auditing practices in both private and public sectors

• the board of directors should instill a culture of good corporate integrity in their operations.

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