Tag: board diversity

Since the COVID-19 pandemic the world has been affected by many events that are now the new normal and businesses will now have to make strategic changes to the way they operate. These events are geo-political - the Russia-Ukraine war; logistical - supply-chain bottlenecks; economic - high energy prices, demand supply issues - global commodities pressures and chip shortages, rising inflation and possible recession.

The insurance industry is still in its infancy when it comes to most environmental, social and governance (ESG) concerns. While there’s much work to be done, I believe the two are a marriage made to last for insurance to meet its mandate to make a meaningful contribution in people’s lives.

Herewith the results of Africa’s non-executive and independent directors’ fees, performance and diversity survey for privately-held and family businesses for 2020. The survey yields data and insights for business directors across Africa, providing a framework against which boards can reference their performance and fees.

Testimony at the Zondo Commission relating to the prepayment of R1.68 billion to Tegeta, a company owned by the Gupta family, provoked strong words from Deputy Chief Justice Raymond Zondo. The whole incident illustrates how seriously directors should approach their duties. Justice Zondo suggested that the directors were negligent at best.

2021 marks a year which should be characterised by transformative change and reinvention. 2020 was a uniquely challenging year, which tested companies and their boards, demanding rapid responses to new challenges, and decision-making with a far wider ambit of influence.

For any company to succeed, its board is crucial. Recruiting suitable, diverse candidates can be difficult. Whether the need is driven by investors, required by law or simply a matter of good business practise, a strategic approach to board diversity is increasingly important.

In the run-up to International Women’s Day (8 March) it’s important to note that while half of the South African population and 45% of the employed workforce are female, only 20% of directors of JSE-listed companies are women. New report recommends voluntary target of 30% female board members.

On 5 November, the JSE Limited (JSE) announced amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. The amendments follow an extensive consultation process with the market and the public that kicked off in September 2018 after the JSE released a consultation paper (Paper) on "possible regulatory responses to recent events surrounding listed issuers and trading in their shares" (click here to read the e-alert on the Paper).

The JSE has published for comment proposed amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. The proposed changes take account of the public comments raised during the consultation process that kicked off in September 2018 after the JSE released a consultation paper (Paper) on 'possible regulatory responses to recent events surrounding listed issuers and trading in their shares'.