Good corporate governance - Enhancing increased accountability and entrepreneurship in Namibia.
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"Foreign Direct Investment (FDI) is viewed as a major stimulus to economic growth in developing countries" (Ama, 2003). The establishment of sound corporate governance in the public and private sector is, therefore, pivotal to Namibia attracting the essential FDI it needs to augment its economic growth. Of course, there may be often equally significant factors such as tax holidays and various investment incentives, that entice foreign investment and support economic growth. Inappropriate governance is unlikely to sway investors' decisions to bring in international resources on a sustainable basis. Good corporate governance will enable Namibia to put in place the financial infrastructure, strengthen the banking systems, develop proper capital markets by accelerating the pace of privatization and broadening the domestic investor base, formulate an appropriate regulatory framework and liberal investment regime, reform the judiciary system and contain corruption. These are the answers to the question of accountability that enhance the promotion of entrepreneurship in an economy. This paper explores the concept of corporate governance in Namibia, how accountability on the part of business leaders, companies and industries will lead to trust and support of stakeholders;and the promotion of entrepreneurship that will provide the economic growth so desperately needed to emancipate the people from economic desperation and the doldrums.
- Entrepreneurship