About
Corporate Governance as an agent of Change in KenyaBackground
Kenya is a leader in corporate governance in East Africa. The Capital Markets Authority of Kenya has in the recent past issued corporate governance guidelines (The Code of Corporate Governance for Issuers) in addition to other regulations and guidelines to ensure that the corporate governance regime in Kenya is at par with best standards globally.
In November 2016, the King IV Report on corporate governance was released in South Africa. It incorporates the significant corporate governance and regulatory developments that have taken place since King III was issued in 2009. A key tenet of King IV is simplification and access. Such developments include: executive and directors’ remuneration, integrated reporting, responsible investing and linkage with the Code for Responsible Investing in South Africa (CRISA), the evolving role of social and ethics committees, mandated audit firm rotation and tendering, information security and protection, strategic risk and dependencies, group governance, board diversity and combined assurance.
Globally, many countries are going through a process of either reviewing their codes or developing new guidelines for governance to ensure that practices are aligned to the new realities of an ever changing business and regulatory environment.
Whilst listed companies are generally applying and implementing various codes and guidelines, non-profit organisations, private companies and entities in the public sector have experienced challenges in interpreting and adapting corporate governance codes to their particular circumstances.
Objectives of the Conference
- To highlight the implications and importance of Corporate Governance Codes in the implementation, and application of corporate governance principles in various jurisdictions.
- Launch the King IV Report in Kenya and explain, the decision to update King III, how King IV differs from King III, and which governance areas changes have been envisaged.
- Hear from Kenyan regulators and regulated entities that include listed companies, non-profit organisations, private companies and entities in the public sector, the challenges and lessons from implementing King III and envisaged impacts of King IV in Kenya.
- Discuss what lessons were learned in implementing King III and how they can be applied in implementing King IV.
Outcomes of the Conference
- An appreciation of the value of the codes, in Corporate Governance implementation and application in different sectors and regions.
- Understand the King IV Corporate Governance Report.
- How the King IV Corporate Governance Report can be applied by Kenyan institutions to meet stakeholder demands for more transparency and equity around compensation, manage new forms of risk in an increasingly digitalized world and overall create shareholder value, ethically.
- How regulators and enforcement agencies can use King IV to enhance compliance amongst regulated entities.
Conference Schedule
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TIME |
ACTIVITY |
|---|---|
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07.30 – 0830hrs |
MORNING BREAKFAST & REGISTRATION |
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0830hrs – 0900hrs WELCOME REMARKS AND SPEECHES |
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0830hrs – 0840hrs |
Mr. Meshack Joram -Chief Executive Officer, Institute of Directors (IoD(K)) |
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0840hrs – 0845hrs |
Mr. Manuel Moses -Country Manager, East Africa, International Finance Corporation (IFC) |
|
0845hrs – 0850hrs |
Mr. Jari Correvon -Country Officer for Africa, State Secretariat for Economic Affairs (SECO) Switzerland |
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0850hrs – 0900hrs |
Mr. Duncan Watta -Chairman, Institute of Directors (IoD(K)) |
|
0900hrs – 0945hrs |
Key Note Mr. Charles Muchene -Non-Executive Chairman, Barclays Bank of Kenya Limited, Non-Executive Group Chairman, East African Breweries Limited |
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0945hrs – 1015hrs |
The King IV Report Ms. Ansie Ramalho -Senior Consultant, Africa Corporate Governance Programme, IFC |
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1015hrs – 1025hrs |
Q&A SESSION |
|
1025hrs – 1045hrs |
PHOTO SESSION |
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1045hrs – 1115hrs |
TEA BREAK |
|
1115hrs – 1200hrs |
Implications and importance of Corporate Governance Codes Panelists: Susan Mudhune, Non -Executive Director, Carbacid Investments, Sanlam Kenya Plc, Safaricom Ltd. and a former Chairman KCB Group Paul Murithi Muthaura, Chief Executive Officer, Capital Markets Authority (CMA (K)) Kamami Christine Michira Mweti, Partner and Head of Banking and Finance, Coulson Harney LLP and Non-Executive Director, Deacons Moderator: TBC |
|
1200hrs – 1215hrs |
Q&A SESSION |
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1215hrs – 1300hrs |
Implementation of Codes, a focus on the King IV Report Panelists: CPA Edwin Makori, Ag. Chief Executive Officer, Institute of Certified Public Accountants of Kenya (ICPAK) Catherine Musakali LL.B, LL.M, FCPSK, ACIrb, Chairman, Women on Boards Network, Member of the Board, Faulu Microfinance Bank, Member of the Board, Kenya Accountants and Secretaries National Examinations Board (KASNEB), A former Chairman of the Institute of Certified Public Secretaries of Kenya (ICPSK) Dr. Joshua Okumbe, Chief Executive Officer, Center for Corporate Governance (CCG) Moderator: Chinyere Peace Almona, Africa Sector Leader, Africa Corporate Governance Program, International Finance Corporation (IFC) |
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1300hrs – 1315hrs |
Q&A SESSION |
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1315hrs – 1430hrs |
Lunch Break |
|
1430hrs – 1515hrs |
Challenges and Barriers to adoption of Codes; A Focus on the King IV Recommendations Panelists: Duncan Watta, Chairman, Institute of Directors Kenya (IoD(K)) Moderator: tbc |
|
1515hrs – 1530hrs |
Q&A SESSION |
|
1530hrs – 1600hrs |
Enforcement Dr. Luis G. Franceschi - Dean, Strathmore University Law School |
|
1600hrs – 1630hrs |
Where to from here? Ansie Romalho, Former Chief Executive Officer, Institute of Directors in Southern Africa (IoDSA), Member of the King Committee, King IV Lead, International Finance Corporation (IFC) |
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1630hrs – 1645hrs |
ACKNOWLEDGEMENT AND CLOSING REMARKS |
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1700hrs – 1930hrs |
Evening Cocktail |
