By Chibamba F. Kanyama
I am surprised many Zambians are seriously lobbying to sit on Boards. Quasi government boards are the primary target.
Many see boards as a source of income and hence their serious lobbying to be ‘employed’ as Directors to Boards. Some are as young as newborn babies, with literally no experience in corporate management but seek to take the very serious fiduciary role of overseeing management through corporate governance. Several people with mixed backgrounds are now running to the Industrial Development Corporation with one page CVs seeking to be appointed to one of those 33 boards. By the way, most Board appointments, in the absence of open advertisements as is the case in other economies, is by invitation through recommendation.
As a trainer on corporate governance under the Institute of Directors Zambia, I realize many do not know the nature of liabilities that go with directorship. How I wish prospective board members are subjected to my training on corporate governance- many will run away.
With the new 2017 Companies Act That now dedicates a page on Corporate Governance (which may soon come with stiff requirements for boards Directors), many will soon realize the real weight for Directors. You will be followed to your home to answer a liability; only then will you know some of these things we cry for will leave your reputation and integrity you have worked hard to build blazing in fire! Directorship on boards is not employment; you are instead giving your expertise for little money.