Guiding Code of Corporate Governance 2009

Rwanda is an emerging market economy and equally faces challenges for economic evolution as the private sector continues to register many emerging businesses. Countries with strong corporate practices attract capital. Countries that guarantee investor rights and have good corporate governance practices like adequate corporate disclosure, sound board practices, are more likely to attract both domestic and international investors than those which do not. In many countries, codes of corporate governance have been established to ensure minimum standards of corporate governance and disclosure are adhered to. Some of the good examples of these include: Cadbury Code and Hampel Committee in the United Kingdom and the King’s Code of South Africa. The establishment of the code will go a long way in setting standards for how companies are managed to secure the values of the shareholders. Therefore the Private Sector Federation (PSF) has developed the guiding code of corporate governance to guide market players and companies to adopt sound corporate governance practices.