CGF Research Institute (Pty) Ltd

Corporate Governance boost for SMEs in SA & SADC region


SMEs in SA and the SADC region will soon have increased access to information on governance tailored to meet their specific needs.  This is thanks to an innovative partnership between the Association of SADC Chambers of Commerce and Industry (ASCCI) and CGF Research Institute (Pty) Ltd (CGF), who developed a set of corporate governance modules specifically tailored to meet the needs of small and medium-sized businesses.Gone are the days when the discussion of corporate governance centred on major corporates, or the business malpractices of companies that such as Enron, WorldCom, Societe Generale, Tiger Brands and Fidentia alone.


As legislative requirements put the squeeze on businesses of all sizes,  Small and Medium Businesses (SMEs) are increasingly beginning to realise the importance of aligning their operational practices, both to the law and business best practices – good corporate governance.  Moreover, institutional investors and stakeholders are becoming more aware of the necessity of responsible business practice and are demanding of companies and their leadership to demonstrate their understanding of good governance within their business, to promote their prospects for financial prosperity and sustainability for future growth.


To support this growing trend, CGF Research Institute (Pty) Ltd (CGF), a strategic partner of the Proudly SA Campaign, developed a set of corporate governance awareness modules specifically for the SME market.  Known as Governance Connect,  the modules, which are fully endorsed by the Institute of Directors in South Africa, are designed to assist small and medium businesses to become more aware of various pressing matters linked to corporate governance.


In this spirit and in order to promote the modules of Governance Connect, CGF was approached by the Association of SADC Chambers of Commerce and Industry (ASCCI) to include Governance Connect within their Global SME Toolkit. The toolkit will be released shortly by ASCCI’s Global Business School of Entrepreneurship (GBSE) is set to be launched at the SADC Head of States Annual Conference in August 2008.


The GBSE will provide accredited and non-accredited training programmes which are aimed at addressing numerous business-related matters that SMEs need to consider in managing their businesses.  It also incorporates business aspects relating to Governance, Risk and Compliance.


“CGF is particularly exited about this partnership with ASCCI and GBSE as the ‘marriage’ will allow for greater numbers of small and medium businesses to proactively equip themselves for a healthier, more profitable and sustainable future.  Through such enterprising partnerships and interventions, we will build more enduring businesses, which in turn will assist in generating more employment opportunities, with obvious benefits to our country”, says Terry Booysen, CEO of CGF (Corporate Governance Framework) Research Institute (Pty) Ltd.


What makes this initiative even more noteworthy is that all the products are being developed in South Africa.  Moreover, the Proudly South African Campaign has also thrown its muscle behind this empowering business opportunity, which is anticipated to set new standards for business excellence within small and medium-sized businesses, not only in South Africa, but on the continent and possibly the rest of the world.


This newsletter has been supplied courtesy of CGF Research Institute (Pty) Ltd, a strategic partner of Proudly South African.


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