Preventing Corruption in State Enterprises

Elizabeth Mosima

15 March 2010

The book "Board Member's Corporate Government Handbook:" was officially launched in Yaounde last Wednesday.

The conference room of the Yaounde Hilton hotel was the venue of the formal launching of the book titled "Board Member's Corporate Government Handbook: Corporations and enterprises of the Public and Quasi-public sector of Cameroon" by Professor Cosmas Cheka. In the "handbook" the author targets board members and managers of state corporations, advisers and collaborators with the identification and selection of those who are appointed by the authority to sit on the boards of State corporations, municipal councillors of the 374 local councils and of Cameroon's future regional councillors, the Cameroonian tax payer who is indeed the owner of all Cameroon's State corporations and librarians, students and the general public interested in questions of good governance and accountability.

The "handbook" is written with a number of objectives such as to provide members of a framework of shared values and principles of good corporate governance that could enhance the checking of corporate misconduct for better performance, revive consumer and investor confidence in State corporations, contribute in enhancing the quality of oversight exercised by boards of State enterprises in the complex 21st century corporate world and present a guide to advisers charged with the selection of those who sit on the boards of State corporations. The handbook has five chapters. Chapter one circumscribes the importance and principles on which corporate governance is founded. In chapter two the powers of the Board are outlined and explained in relation to recent jurisprudence.

Chapter three deals with rights and obligations, cornerstone of the integrity of the Board as well as of the rule of law. Chapter four outlines aspects of the rules governing the relationship between the board and the executive of State corporations. The last chapter is entirely dedicated to activities touching on the control of management and of the general life of the corporation by the board. Issues treated in this chapter concern essential tips for preparation and participation in board meetings and how to interpret a balance sheet. Earlier, the Minister Delegate in charge of Supreme State Control Seigfried Etame Massoma called on board members of State Corporations to make good use of the "handbook". The Board member's Corporate Handbook has 143 pages. It is written in French and English. The book is sold in all the book stands in town and it costs FCFA 6,000.