Conceptualisation and contextualisation of corporate governance in the South African public sector : issues, trends and prospects

Abstract

The purpose of this article is to locate both conceptually and contextually corporate governance in the South African public sector. The article is based on the premise that corporate governance is not solely confined to private sector milieu and as such it is incumbent upon public sector organisations to embrace corporate governance with a view to improve their efficiency, effectiveness, accountability and reputation. It further provides a corporate governance framework underpinned by the King I and King II Reports, King Code of Corporate Practices and Conduct and the Public Finance Management Act germane to the public sector setting. The challenges facing Chapter 9 institutions related to their internal governance arrangements and the lessons on the application of corporate governance model adopted by the Department of Trade and Industry are further discussed.