Effectiveness of corporate governance systems on zambian’s cooperatives. a case of agricultural and commercial cooperative society of Zambia ltd.
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Date
2020
Authors
Mwiya, Mukamba
Journal Title
Journal ISSN
Volume Title
Publisher
The University of Zambia
Abstract
The main objective of this was to examine the importance of having effective corporate governance systems on the agricultural cooperatives in Zambia. The study used a descriptive design method where a survey was chosen. Primary date was obtained to bring out key findings that shed light on the subject. Research data was analysed using descriptive statistics and for ascertaining association between variables. The study used a respondent sample of 88
in Lusaka. Findings on the first objective, effect of corporate governance found that economic growth, public confidence and stakeholder inclusiveness as confirmed by the principle of the cooperative and Kings iv report for the Agricultural and Commercial Cooperative Society. Findings on the factor that contribute to lack of cooperate governance found that the regulations, rules, laws and acts accentuated less than degree of concern on accountability, transparency, fairness/equity and the independence in the operation of the Society’s corporate governance framework. And findings on processes that can improve
Corporate Governance systems at Agricultural and Commercial Cooperative Society found that co-operatives should develop structures and policies that permit and promote active member involvement at appropriate levels. The Cooperative need a framework of ethical and strategic leadership which promotes adoption of corporate governance as stated in fundamental principles of cooperative and Kings iv report, which stakeholders expected to significantly promote effective implementation of the corporate governance framework which was adopted by the Society in 2010, revise By-Laws and cascade revisions of the
Cooperative Act number 20 of 1998. The research concluded that cooperatives should integrate the corporate governance framework which was adopted in 2010 to contemporary principles and prosper in promoting accountability, transparency, fairness/equity and appreciation of corporate governance in their operations. It was recommended that members should have a clearly defined rights and responsibilities, maintain separation of the Board and Management, should hold the board accountable for the performance of the Cooperative on behalf of general membership and foster the economic growth of the Cooperative. It was also recommended that members should ensure that corporate governance appreciation, policies and performance are in line with Corporate governance by refining the stated By-Laws of Cooperative. It was further recommended that cooperatives should provide statements on their annual reports disclosing the extent to which they have followed it during their operations and communicate with members in the course of developing strategies that
respond to their needs
Description
Thesis of Master of Business Administration in Management Strategy.