Collins Mulenga Chabuka

Corporate Governance Best Practice in the Mining Industry of Zambia Collins Mulenga Chabuka

Corporate Governance refers to the manner in which the power of a corporation is exercised in the stewardship of the corporation?s total portfolio of assets and resources with the objective of maintaining and increasing shareholder value and satisfaction of other stockholders in the context of its corporate mission. It is concerned with creating a balance between economic and social goals and individual and communal goals while encouraging efficient use of resources, accountability in the use of power and stewardship and as far as possible to align the interests of individuals, corporations and society. This study sought to assess compliance to best practice corporate governance requirements and highlights the key indicators of best practice that need to be addressed in the privately owned foreign mining establishments on the Copperbelt. The major lessons picked from the literature were the effects on the organisations and the society at large of failure to implement best practice requirements of corporate governance. Firstly, we note that if there is no transparency and accountability in decision making, an organisation may fail. Refer to report for the key findings.