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<strong>Governance, Risk, and Compliance</strong>
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A code of governance is crucial for any emerging country as it endeavours to provide a sound management framework and principles. Corporate governance and risk management are fairly new management concepts but are becoming important management disciplines for the public and private sectors in the African region. 
For many African countries, dictatorship by either military or civilian governments is still the order of the day. The traditions of rule of law, transparency, accountability and social justice, which underpin governance, both at the national and corporate levels were non-existent. Through the directors the government made decisions regarding investment, production, procurement and personnel matters. As a regulator, the government sets technical standards of products, product prices and sometimes gives directives on cross-subsidization (Otobo, 2000).
There are some African countries that have lost some of the countries treasured possessions in the name of privatisation.  Privatization has taken many forms in the different African countries, even within the same country. The most common approaches to privatization in African countries have tended to be liquidations of State-owned-Enterprises (SOEs). This has come about because a lot of the decisions are driven by these leaders and the problem is that some of these leaders do not understand the impact such kind of decisions have for the future economy of the country.
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