The future of good corporate governance was the focus of the second Annual Corporate Governance Conference held, today, at the Hennessy Park Hotel in Ebène.
An initiative of the Mauritius Institute of Directors (MIoD), in collaboration with the National Committee on Corporate Governance, Business Mauritius, Mauritius Chamber of Commerce and Industry, and the IBL Group, the Conference brought together partners from the private and public sectors and provided a platform for sharing ideas and information on good corporate governance.
The Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun; the Chief Executive Officer of MIoD, Ms Sheila Ujoodha; and other eminent personalities were also present.
In his keynote address, Minister Seeruttun observed that such gatherings play an important role in charting the trajectory of governance excellence of the country. 'Mauritius, true to its commitment to excellence, understands that robust corporate governance is the linchpin of investor confidence and the precursor of long-term economic stability,' he said.
He highlighted that the event coincides with the MIoD's 15th anniversary and highlighted the pivotal role played by the institution in fostering resilient, responsible and forward-looking businesses.
Speaking about the Corporate Governance (CG) Scorecard Assessment exercise, he underlined that the Second Report will be released next month. The CG Scorecard, he indicated, puts Mauritius among the few countries in the world to measure progress in corporate governance practices in a quantitative manner. He expressed hope that the Corporate Governance Scorecard and its 66 indicators will give rise to a new type of corporate citizenship consciousness in Mauritius.
Another project in the pipeline, he said, is the launch of a Diversity, Equality and Inclusion Charter. He added that the project endorses their commitment to progressively build a more diverse, equitable, inclusive and sustainable business community and society.
Emphasising that good governance is a culture of responsibility, accountability, transparency and effectiveness, Minister Seeruttun stated that in an age of open, accountable, and participatory governance, we have no choice but to comply with new exigencies as they keep coming. Shareholders, Investors and Customers expectations will keep businesses on their toes to higher standards and seek increased transparency and accountability, he added.
He concluded by observing that Corporate Governance will soon become a global language for Governments, Regulators, the private sector and other stakeholders in an increasingly interconnected world. According to him, the sooner we all learn to speak the language of Governance, the earlier we shall reap the full benefits of the positive correlation between Corporate Governance and Economic Development.
For her part, the CEO of the MIoD, Ms Sheila Ujoodha, said that the present landscape is a vast and ever-changing one, shaped by technological advances, global interconnectivity, and evolving expectations. She dwelt on the need to build a governance era that is relevant as well as resilient for the challenges and opportunities of tomorrow.
Reflecting on the 15 years of the MIoD, she underscored the importance of propelling corporate governance into the future. 'As we look to compete and thrive in an increasingly complex domestic and global environment, we must discuss how corporate governance needs to evolve and directors must be able to discern how global trends will affect their organisations' strategies and operations,' she stated