Corporate Governance Vulnerability in Africa: Do African Values Matter?

Abstract

This paper set out to resolve the issue why there is corporate governance vulnerability in Africa in spite of the highly cherished traditional values in the continent. Yet, these values are essential to the corporate government practices. In order to resolve this concern, the discussion relied on the literature review written by both African and no African scholars. The discussion was guided by the theory of moral sentiments advanced by Adam Smith. It was discovered that African values were more meaningful before the intoxication of the same by the foreign ego-centric administrative practices. The invasion of African corporate world by the alien governance practices adulterated African values to the extent that every formal governance practice in Africa was imported tax free. However, the realization of this problem should be the starting point of undoing injustices that have been inflicted on the African corporate world for centuries. It is envisaged that the collective action geared at re-establishing the lost values should be pursued unceasingly with a hope of regaining the lost hope someday.