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This study’s objective is to understand the level at which Tanzanian Listed
companies adheres to the good Corporate Governance concept. Indeed, in awarding
it a specific focus, the study’s context falls under the NMB Bank, adherence to the
Corporate Governance concept. Identifying factors that hinder compliance towards
good governance ethics and proposing way forward on how to enhance the
circumstance as far as adherence to good governance is concerned are the key areas
under this study. The study used questionnaires and interviews as instruments of data
collection. Apart from that, a case study was used in assisting the researcher to get
in-depth characteristics of the Company. The sample size had 530 respondents,
selected using purposive and non purposive methods.
Findings of the study show that compliance on good corporate governance in
Tanzanian listed companies is at a significance good state, as directors are
independent in decision making for the interest of the Company. Moreover, fraud
and theft rates have been considerably minimized; hence, the respective risk has been
reduced as well. Furthermore incentives to employees as well as return to
shareholder have also improved too.
The findings of the study indicate that 65%, the Microfinance Bank has adopted the
good governance elements and almost 45.2% of its processes are aligned with the
good corporate elements and this has helped the bank to protect its customers and
stakeholders and be competitive in the banking industry. Never the less, the findings
have indicated that the adoption and implementation of the good corporate
governance is faced with challenges and this is equivalent to 63.2%. However, the
entity has devised means of making the adoption of the god corporate governance
approach more effective and this has been done through technology, strategic
planning and aligning its financial services in accordance to customer and clients
preferences and expectations and competent staff that understands the values of good
corporate governance in the banking sector. |
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