A contemporary legal perspective of the autonomy of Boards of Directors of public enterprises in Namibia and South Africa
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Date
2020
Authors
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Publisher
University of Namibia
Abstract
Following a plethora of scandals in public enterprises sectors, corporate governance has become a subject of argumentative debates in the public domain. This study investigated the autonomy of boards of directors of public enterprises' from the shareholder's undue political and managerial interference. The necessity to intensify the boards of directors ' legal protection in public enterprises has been compelled by numerous media reports against political undue interference by
line ministers. The study revealed that Namibia and South Africa does not have a legal protection framework for boards of directors of public enterprises. The study recommends that section 4 of the Public Enterprises Act 1 of 2019 be amended to ensure that public enterprises retain their autonomy. It is further recommended that a parliamentary committee be established to oversee the appointment of board of directors of public enterprises and to ensure that this parliamentary committee is empowered to summon boards of directors to account for their decisions in public
enterprises. To insulate boards of directors of public enterprises from political interference, it was found that boards should be properly empowered, government intervention should be minimised, board appointment processes should be transparent and merit-based.
Description
A thesis submitted in fulfillment of the requirements for the Degree of Master of Laws (LLM)
Keywords
Board autonomy, Board remuneration, Corporate governance