Boards under pressure to transform
Although the new report mainly focused on South Africa, regional comparatives including Namibia are covered.
South Africa’s boards are under immense pressure to continuously transform in many aspects, in the face of socio-political and economic uncertainty, a volatile market, digital disruption, and increasing demands from shareholders and other stakeholders.
The South African economy is experiencing low growth, high levels of unemployment, and persistent inequality.
National Treasury has stated: “The country needs growth reforms that promote economic transformation, support labour-intensive growth, and create a globally competitive economy.”
‘Centrally placed’
Boards are centrally placed to drive the required shift.
Leila Ebrahimi, associate director in PwC’s people and organisation department and editor of PwC’s Non-executive Directors: Practices and Fees Trends Report, 2020, says: “Against this backdrop of uncertainty and constant change, companies are being asked to take the lead in some of society’s most complex and challenging issues. From seeking action on climate change to threats of disruption to the workforce, stakeholder expectations are increasing, and some boards already are responding.
“The private sector has an important role to play, together with government and the public sector, to inspire the productivity and innovation which we need to build the globally competitive economy which we aspire to. But growth must be inclusive — within our country, high income inequality continues to pose a risk to economic growth.”
It is evident that there is a greater awareness of this issue, and a move to action.
A good example is the anticipated proposed amendments to the companies act in South Africa, which are expected to introduce a mandatory disclosure of the wage gap.
Content
PwC’s 13th edition of the “Non-executive Directors: Practices and Fees Trends Report” continues with its annual review of fees paid to non-executive directors on JSE-listed companies, as well as several African stock exchanges and an analysis of non-executive fees paid to the FTSE 100 and FTSE 250.
In this report, PwC sets out some thinking around what boards should be focusing their energy and attention on in order to play their part in this transformation.
Although the report mainly focused on South Africa, regional comparatives including Namibia are covered. The points discussed in detail include:
? Effective board committees,
? Reporting on the internal pay ratio,
? Boardroom culture and CEO personality,
? Setting fees for non-resident NEDS,
? Responding to climate change,
? Profile of a JSE non-executive director,
? Fees paid to non-executive board members of JSE-listed companies,
? London FTSE 100 and FTSE 250, and
? African stock exchanges.
For the full report, to go: https://www.pwc.co.za/en/publications/non-executive-directors-report.html
For more information, contact PwC Namibia’s country senior partner, Nangula Uaandja, at [email protected]
The South African economy is experiencing low growth, high levels of unemployment, and persistent inequality.
National Treasury has stated: “The country needs growth reforms that promote economic transformation, support labour-intensive growth, and create a globally competitive economy.”
‘Centrally placed’
Boards are centrally placed to drive the required shift.
Leila Ebrahimi, associate director in PwC’s people and organisation department and editor of PwC’s Non-executive Directors: Practices and Fees Trends Report, 2020, says: “Against this backdrop of uncertainty and constant change, companies are being asked to take the lead in some of society’s most complex and challenging issues. From seeking action on climate change to threats of disruption to the workforce, stakeholder expectations are increasing, and some boards already are responding.
“The private sector has an important role to play, together with government and the public sector, to inspire the productivity and innovation which we need to build the globally competitive economy which we aspire to. But growth must be inclusive — within our country, high income inequality continues to pose a risk to economic growth.”
It is evident that there is a greater awareness of this issue, and a move to action.
A good example is the anticipated proposed amendments to the companies act in South Africa, which are expected to introduce a mandatory disclosure of the wage gap.
Content
PwC’s 13th edition of the “Non-executive Directors: Practices and Fees Trends Report” continues with its annual review of fees paid to non-executive directors on JSE-listed companies, as well as several African stock exchanges and an analysis of non-executive fees paid to the FTSE 100 and FTSE 250.
In this report, PwC sets out some thinking around what boards should be focusing their energy and attention on in order to play their part in this transformation.
Although the report mainly focused on South Africa, regional comparatives including Namibia are covered. The points discussed in detail include:
? Effective board committees,
? Reporting on the internal pay ratio,
? Boardroom culture and CEO personality,
? Setting fees for non-resident NEDS,
? Responding to climate change,
? Profile of a JSE non-executive director,
? Fees paid to non-executive board members of JSE-listed companies,
? London FTSE 100 and FTSE 250, and
? African stock exchanges.
For the full report, to go: https://www.pwc.co.za/en/publications/non-executive-directors-report.html
For more information, contact PwC Namibia’s country senior partner, Nangula Uaandja, at [email protected]
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