Corporate Accountability

The Functional Stakeholder Model represents a significant and original contribution to contemporary corporate governance discourse in Africa. The book succeeds in reframing how corporate governance can be conceptualised and implemented in institutionally challenging contexts, offering a compelling alternative to governance transplantation narratives. By grounding its analysis in African regulatory realities, the book provides a strong foundation for ongoing scholarship and policy engagement. It is therefore strongly recommended to scholars of corporate governance, banking regulation, and African development, as well as practitioners and policymakers seeking context-sensitive approaches to governance reform.

Research on corporate governance is frequent and covered by many disciplines including of course law and, in many cases, interdisciplinary. What is not frequent however, is an investigation into corporate governance in the African region specific to industry sectors. This is an important gap that needed to be filled, and Dr Ediagbonya is one of the first scholars to commence filling it. His book, Corporate Governance in Africa, is a region specific and industry specific investigation on an appropriate and reliable corporate governance framework which is both stable, yet adaptable for the peculiarities of the region.

This book is an excellent contribution to the analysis of corporate governance frameworks from emerging countries. It analyses a timely issue of corporate governance in the banking industry of two African countries, Nigeria and South Africa, with some of the largest economies based on gross domestic product (see the introduction). The banking sector in Africa is a sector of significant growth, although significantly concentrated. McKinsey insights points out that ‘performance in Africa’s banking system is driven by a diverse mix of markets, each with its own unique strategies and challenges.

This symposium aims to encourage a more systematic and critical scholarly engagement with the delocalization of justice in BHR cases involving harms suffered in African states, and the Global South more broadly. It is our contention that until now, with some notable exceptions, scholarly debates in the BHR sphere have insufficiently focused on the justification for, effectiveness of, and alternatives to this uprooting strategy. Yet, this delocalization lies at the heart of many legal processes and regulatory mechanisms aimed at delivering justice (or corporate accountability) in the Global North for harms that occurred in the Global South. Interrogating this delocalization, and imagining alternative strategies that would enable local populations to gain greater agency through local political and legal processes, should be at the core of scholarship and activism in the BHR field.