Redirecting the path of State-Owned Enterprises (SOEs) through Corporate Governance Legislative Development. A Review of Related Literature

Abstract

This review is concerned with corporate governance legislative development for State-Owned Enterprises (SOEs). The primary focus is on corporate governance developments in Kenya, South Africa, and Zimbabwe. The authors reviewed the literature on corporate governance development for SOEs with the primary goal of identifying the main malfeasances that have happened at SOEs in Africa so as to allow to authors to make recommendations on how such malfeasances may be reduced. The study used secondary literature sources such as published journals and government reports. The study reveals that in Africa corporate governance development has largely evolved following main corporate scandals that have happened in different parts of the world. The other findings from the review of the literature show that SOEs have been involved in scandals in Africa hence their inefficiencies. The authors recommended that more serious penalties be put for those who practice corporate misgovernance and corruption. Authors recommended that African countries strengthen non-partisan anti-corruption agencies that may reinforce good corporate governance practices by putting a cog to any corporate governance malfeasances in SOEs.