Tanzania lacks adequate number of competent directors, an expert has said, calling upon concerted efforts among various stakeholders to address the issue.This unfortunate situation, according to the Bank of Tanzania (BoT) deputy governor Mr Juma Reli responsible for administration and internal control, results in poor performance of both public and private institutions.
Opening a corporate governance seminar organised by Institute of Directors in Tanzania, Mr Reli said poor performance in these institutions is caused by the negligence of the board of directors and the lack of general management principles.
Mr Reli said when a board of directors fails to play well its oversight duty, an institution must performs poorly. “Boards of directors are heads of those institutions if they fail to do their part as outlined in the rules and regulations, their organisations fail,” he said.
He said that IoDT is currently establishing itself and has aptly chosen to concentrate on developing a strong and sustainable director training programme to cater for the shortage. “Its work in this area is to provide guidelines for chairs and directors suffering from competence issues,” he said.
For his part, Controller and Auditor General (CAG) Ludovick Utouh said that some of the directors fail to do their job effectively due to the lack of principles of good governance.
“The purpose of this training seminar is to train them to have good management in accordance with the existing laws,” he said
IoDT Chief Executive Officer Mr Said Kambi said that over past 12 months, his institute has managed to train and average of 15 directors per month.
Source: The Citizen, reported by Frank Aman from Dar es Salaam, Tanzania
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