Governance watchdog raises red flags against BoB, BMC

The BAOA’s reviews have shown that the major problem with state-owned or -controlled entities and corporate governance is that the laws establishing these organisations often run contrary to internationally acceptable governance standards.

In blistering submissions before the Parliamentary Committee on Statutory Bodies and State Entities on Tuesday, BAOA CEO, Duncan Majinda, said the last review of state entities and other major private sector bodies had shown a corporate governance compliance rate of just 13%.