Performance Monitoring

Performance Monitoring

Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled. An important theme of corporate governance is the nature and extent of accountability of people in the business, and mechanisms that try to decrease the principal-agent problem

  • Monitor performance of parastatals
  • Assist Government in reviewing strategic objectives and setting performance targets of parastatals
  • Facilitate screening suitable candidates to serve on parastatals Boards and monitor their performance

Benefits of Corporate Governance

  • Good corporate governance is an essential tool to ensure that companies are run well and efficiently. It also determines whether a company prospers or fails.
  • Good Corporate Governance also ensures that there is transparency as well as ethical conduct and that disclosure requirements are strictly observed, which are at the core of Corporate Governance. 
  • It compels the Board of Directors and Management to always act in the best interest of the company.
  • Good Corporate Governance gives a country global reputation
  • It also assists a country to attract FDI because it instills confidence in investors.
  • Reporting and accounting standards adopted by parastatals are also important measures of corporate governance.

.The Responsibilities of Performance Monitoring Department are to:-

  • Advocate for good corporate governance practices within parastatals
  • Review PE strategic objectives and facilitate setting of performance targets at shareholder level
  • Entrench adoption of corporate governance instruments within parastatals
  • Monitor and evaluate overall performance of parastatals and recommend appropriate interventions
  • Advise on the selection of non-executive directors of parastatals and instituting board and director performance appraisal processes
  • Advises on appropriate interventions required to influence policy in the area of good Corporate Governance