1. Shame Mugova Durban University of Technology Durban, South Africa
Corporate governance, structure and accountability as affected by national government infrastructure in developing countries Presented 26 May 2016, Rome International Conference “Past and Future of Corporate Governance: Practices, Reforms and Regulations”
Shame Mugova Durban University of Technology Durban, South Africa  
Paul R. Sachs NHS Human Services Philadelphia, PA, USA  

2. Models of Corporate Governance
Anglo-Saxon model
Continental model
Implications for developing countries

3. Challenges of business operations in developing countries
Governance
Financial Infrastructure
Legal Infrastructure
Marketplace
Supply Chain
Government involvement in markets

5. World Bank Group - Rankings
Zimbabwe
Italy
Rwanda
South Africa
USA
Overall Ease of Doing Business
155 45 62 73 7
Starting a business
182 50
111
120 49
Dealing with construction permits
184 86 37 90 33
Getting electricity
161 59
118
168 44
Registering property
114 24 12
101 34
Getting credit 79 97 2
Protecting minority investors 81 36 88 14 35
Paying taxes
145
137 48 20 53
Trading across borders
100 1
156
130
Enforcing contracts
166
127
119 21
Resolving insolvency
152 23 72 41 5

6. Zimbabwe - Banking sector - I
Financial infrastructure
Currency
Central Bank
Indigenisation and property rights protection
Financial market
Lack of confidence
Liquidity constraints
Reckless lending

7. Cash shortages –Bank queues

8. Proposed Zimbabwe Bond Currency

9. Zimbabwe – Banking sector - II
Legal Infrastructure
Lack of secure property rights
Politicisation of legal system
Indigenisation efforts
Supply Chain
Lack of lending vehicles
Unbanked currency

10. Zimbabwe – Banking Sector - III
Government involvement
Politicisation of financial management
Lack of forceful central bank authority
Weak surveillance and monitoring

11. Zimbabwe – Manufacturing Sector - I
Financial infrastructure
Low foreign investment due to political risk
Exorbitant lending rates
Legal infrastructure
Indigenisation
Poor property rights protection
Poor law enforcement

12. Zimbabwe – Manufacturing Sector - II
Market
High production costs including overhead and utilities
Power outages
Cheap imports
Supply Chain
Outdated manufacturing principles
Weak transport and logistic infrastructure

13. Zimbabwe – Manufacturing Sector - III
Government involvement
National corporate governance code
Import duties
Manufacturing standards

14. Recommendations - I
Parliamentary legislation to support National code of corporate governance
Credit reference bureau at Central Bank
Laws to protect investment and property
Judiciary reform to remove corruption
Improved surveillance by regulatory bodies
Establish Corp Governance index on ZSE

15. Recommendations – II
Balance tradition and best practices to create sustainable governance structures
Reform the Anti-Corruption Commission so it can fulfill its mandate
Make board appointments based on competence and expertise rather than political ties