Private sector body creates board members training programme
The Institute of Corporate Governance Uganda (ICGU) in partnership with Leading Boards Africa have laid out plans for current and aspiring board members to undertake special training to be better board members.
The board training is a deliberate effort to re-tool and equip intending CEO’s, company secretaries and directors for an excellent management and oversight role in modern organizations.
In a press conference held in Kampala, board members trainers brought forward issues that have led to top bosses mismanagement of public offices citing a knowledge gap for those appointed to undertake top level offices.
“On the side of government, public institutions generally have weaknesses in adherence and observance of Corporate Governance principles and codes of best practices. This justifies the many scandals of corruption, intrigue, misappropriation, poor reporting to line ministries among other poor management practices that end in courts of law,” noted Dison Okumu, CEO of ICGU.
“Board of directors training program can help a board fulfill its role and make a real difference to a company’s performance,” he added.
Okumu also noted that Uganda still has a number of Multi-National Corporations (MNCs) and large Private Sector Organizations headed by foreign proprietors or foreign Chief Executives and wants this to change in favor of Ugandans.
Francesca Kakooza, the governance consultant for leading boards Africa, says there is a corporate governance deficit, the world average for female representation on boards is 17% and Uganda hangs around 12.7%.
“Board composition and dynamics are critical to best operation. Within the framework of positive board culture, the board will leverage their diverse skill sets to excellent advantage. Board of directors training programs help build the skills for driving positive board culture.” Noted Francesca
On why the training is important, she noted that, “Board of directors training will shed light on board-specific strategies to mitigate risk and maximize opportunities. You’ll develop the skills, tools and frameworks for action plans to address challenges and boost your board’s performance.”
The institute boasts of over 744 individual members who are upholding corporate governance best practices in Uganda.
The training will be hybrid in nature designed to fit in the busy schedules of the trainees, and will last for three months starting 20th August.
As Uganda takes up its role and participation in the regional markets like the African Continental Free Trade Area, and the East African Common Market, there is need to increase the number of human capacity and organizations that operate in respect to international codes of corporate governance.
