Corporate Governance

The King III Report on corporate governance provides new challenges for all companies in South Africa. Consequently there has been a demand by companies for sound advice in the corporate governance arena, more so the SOCs subject to the King Code, the PFMA and the protocol on corporate governance. To that end, our team has been involved in developing a corporate governance framework for various companies and SOEs for the purposes of assisting them to comply with the requirements specified by King II, but having regard to the specific corporate governance structures required by the individual companies. Our approach is to develop and workshop the corporate governance framework with our client so as to ensure that the end product results in effective compliance.

Key projects that MHA has been involved in:

• Facilitate the appointment of the first board of directors and supporting the board in its first year on strategic relationship with the City of Johannesburg as shareholder.
• Advise the Department of Public Enterprises on the best corporate governance framework for SOCs.
• Review the Transnet articles of association and advising on the manner in which they should be amended to take into account the requirements in terms of the PFMA, protocol on corporate governance and the King Code on corporate governance.
• Review the articles of association of all SOC’s under the control of the Department of Communications to align them with all applicable laws and statues.