Corporate Governance for Small and Medium-Sized Businesses in African Economies

SMEs play a vital role in the growth of economies and are often described as the engine of economic development. However SMEs in emerging markets struggle to survive and grow for a variety of reasons including a lack of finance and management skills. Most of the growth-constraining factors in small businesses can be traced to weak corporate governance (CG) practices. As a seasoned practitioner in the field of corporate governance Dr. Almona sees the need to build capacity to enhance sustainability in the SME sector. SMEs need to understand that CG is not a destination but a journey SMEs need to grow and mature into CG practices that are relevant to their stage of business. SME owner-managers need to understand and adapt to the level of formality expected and required by potential employees and providers of funds. This book provides ways and models that will encourage the adoption of sound corporate governance principles and practices for SMEs in Africa to the benefit of society.