Regulating Corporate Governance in Tanzania and Legal Challenges on Corporate Government in Practice.

Mwakibete, Alpha Anangisye (2023) Regulating Corporate Governance in Tanzania and Legal Challenges on Corporate Government in Practice. Masters thesis, The Open University of Tanzania.

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Abstract

The Corporate Governance has to be reported several times to have malpractices. The presence of conflict of interest, embezzlement, unprofessional control of the companies and misuse of powers become common features of the companies. These negative features led and still lead some of companies to fail in business due to mismanagement, poor short and long term plans, conflict of interest among the shareholders and directors which are results from mentioned features. Since the Corporate Governance is regulated by the laws the study focused to analyse those laws as to see the presence of any legal challenges which affect the Corporate Governance in Tanzania. In order to achieve the goal the researcher guided by both general and specific objectives and the research questions which acted as borders as to make the researcher to focus on the subject matter. The study employed entirely the Empirical Literature Review and the doctrinal Research Approach where the researcher reviewed different documents including journals, articles, books, legal texts, paper presentations etc, as major source of data and the data obtained were analysed qualitatively.After reviewing and analysing data the study revealed legal challenges on Corporate Governance which affect negatively the effectiveness of the corporate governance practices. Those legal challenges including the presence of CEO duality, absence of directors independence, political interference in management of the companies, presence of large size board of directors etc. Most of these challenges caused the corporate laws being not adequate enough to address the revealed challenges. The study recommended inter alia the amendment of some corporate laws as to rectify the revealed challenges.

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