Boards of directors are confronted with many difficult decisions on a regular basis. The right choice is not always obvious. The Corporate Governance Code for Namibia (NamCode) provides a list of best practice principles to assist and guide directors to make the right choice for their entities.
Since it was first published in 1994, the King Report on Corporate Governance for South Africa and its successors, King II and King III, have become an indispensable guide on Corporate Governance to directors and regulators in various jurisdictions. The NamCode is based on King III and provides guidance to all Namibian corporate entities on various governance related aspects, including:
The NamCode will be effective for financial years commencing after 1 January 2014.