His Excellency Hon. Uhuru Kenyatta, C.G.H.,President and Commander - in - Chief of the Defence Forces of the Republic of Kenya was presented Mwongozo, the code of Governance for State Corporations from Group Managing Director, Commercial Bank of Africa and Co-Chair of the Presidential Taskforce on Parastatal Reforms, Mr. Isaac Awuondo at State House, Nairobi on the 25th day of March 2015. Subsequently, H.E. the President has issued Executive Order No. 7 for implementation of Mwongozo.
A Code of Governance for Government Owned Entities (Mwongozo) has been developed by the Implementation Committee, in conjunction with SCAC and the Institute of Certified Public Secretaries of Kenya (ICPSK) in consultation with World Bank. It is based on the Constitution of Kenya, 2010 and draws from OECD guidelines, King III Report on Corporate Governance, the Malaysian Code among others. It provides a framework embodying Board charters, Codes of conduct, professional ethics, and performance management.
The Code addresses matters of effectiveness of Boards, transparency and disclosure, accountability, risk management, internal controls, ethical leadership and good corporate citizenship. It further provides a platform for addressing shareholder rights and obligations and ensuring more effective engagement with stakeholders. More importantly, MWONGOZO will ensure that sustainability, performance and excellence become the hallmark of our Government Owned Entities.
Printed coies of Mwongozo are available for collection by State Corporations. Please get in touch with us for further details.