BAOA to establish homegrown corporate governance code

The new code is part of sweeping changes introduced by amendments to the Financial Reporting Act, which came into effect on April 1.

According to the amendments, the corporate governance code will apply to Public Interest Entities (PIEs), which include major firms listed on the Botswana Stock Exchange (BSE), those licensed by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) or the Bank of Botswana (BoB), parastatals and others deemed significant in terms of their presence in the country.