Regulatory Alerts2019-12-11
EAC Council Directive on Corporate Governance for Listed Companies
The Council of Ministers of the East African Community issued this directive to establish minimum corporate governance standards for all listed companies and publicly traded securities within the region. It mandates structured board operations, including a balanced composition of independent and non-executive directors, mandatory audit and remuneration committees, separated CEO and chairperson roles, and strict fit-and-proper directorship criteria. The framework further enforces comprehensive disclosure obligations, robust internal controls and risk management systems, and the active protection of shareholder rights alongside transparent stakeholder communication.
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