Corporate governance and accountability in Uganda a stakeholder perspective
Loading...
Date
2007
Authors
Wanyama, Simeon
Burton, M. Bruce
Helliar, V. Christine
Journal Title
Journal ISSN
Volume Title
Publisher
University of Dundee,
Abstract
The interviews documented in this study suggest that much more sensitisation is
needed to develop an awareness of the importance of good governance and accountability
among a wide range of groups of stakeholders in Ugandan corporations. Several
organisations, including the ICGU, are attempting to improve the situation, but the government
itself is seen as perhaps needing to exhibit a greater will to tackle corruption—
and encourage accountability and good governance—not just in words, but in practical
actions. Political cronyism, vested interests and interference, as well as a lack of
sufficient backing for regulatory agencies, appear to be serious obstacles to the emergence
of improved governance structures in Uganda. A concerted effort was thought to
be required to ensure that management and boards develop better corporate governance
practices and enhance their accountability framework so that they become (and
are seen to become) good corporate citizens.
In summary, there is clearly a need for the Ugandan authorities to address the issues
identified in this study, and work towards a system of governance that will enhance
confidence (both domestic and international) in the inherent accountability of the
Ugandan corporate system. It is apparent, however, that many of the key players in the
system perceive there to be a sufficiently widespread degree of corruption to make substantive
improvement difficult. The priorities of the Western-based codes on corporate
governance may therefore only have limited applicability for a developing nation such
as Uganda. While the present study has limitations, most notably in the fact that only
those willing to be interviewed took part, the results point strongly to a common view
along the lines stated above and a need for action that is increasingly urgent
Description
Keywords
Corporate governance and accountability in Uganda, stakeholder perspective, Importance of corporate governance in a Ugandan context, Framework of corporate governance
Citation
Wanyama, S., Burton, B.M. and Helliar, C.V., 2007. Corporate governance and accountability in Uganda a stakeholder perspective