The Durban University of Technology (DUT) Business School under the ambit of the Faculty of Management Sciences recently held an informative and thought-provoking event where staff and students had conversations with CEOs. The discussions focused on corporate governance and business ethics at The Capital Pearls Hotel at Umhlanga. The event held under the theme: The Importance of Corporate Governance and Business Ethics in The Business Landscape, provided attendees with invaluable business-related information, interactive discussions, and networking opportunities.
The session was well attended by the DUT community including the Executive Dean of the Faculty of Management Sciences, Professor Fulufhelo Netswera and the Director of the DUT Business School, Professor Pfano Mashau. The event featured esteemed keynote speakers: Dr Mduduzi Bophela, an entrepreneur and governance thought leader currently serving as Board Chairperson of the Inkosi Albert Luthuli International Convention Centre (Durban ICC), and Dr Sizwe Nxasana, a social entrepreneur and corporate governance expert with extensive corporate experience, having held CEO roles at Telkom South Africa Limited and FirstRand Limited. Dr Nxasana is also the CEO and founder of Sifiso Learning Group.In 2012 DUT awarded him an honorary Doctor of Technology Degree in Accounting for his contributions to the transformation of the Accounting profession, as well as his significant community engagement efforts focusing on education and rural development.
The day’s programme director was Mr Zwakele Ngubane, Director of Advancement and Alumni Relations unit at DUT. He commended the speakers for availing themselves to share their wisdom as shining examples of black excellence and ethical leadership. The distinguished speakers were introduced by Dr Bonginkosi Zondi, who Heads the Master of Business Administration (MBA) and Postgraduate Diploma programmes at the DUT Business School.
The session began with Dr Bophela, the first guest speaker, discussing ethical leadership in South African business and sharing valuable insights from his professional experiences throughout his career.
Dr Bophela said corporate governance and ethical leadership are a cornerstone of well-run businesses or organisations.
“Corporate governance ensures that decision-making is in the best interest of all stakeholders of the business and those stakeholders being the shareholders, employees, executives, and management,” he said.
He relayed that corporate governance as a framework ensures that there is accountability, fairness, trust, and transparency in a company and within its stakeholders and employees which helps to mitigate risks, counter fraud and ensure compliance with the laws of the country and regulations while ultimately contributing to the long-term sustainability of the organisation.
Speaking on the topic of Corporate Governance and Business Ethics in Today’s Global Economy, Dr Nxasana shared that corporate governance is one of the most important aspects of the business.
“If you were dreaming of growing a large enterprise one day, you would have to set it up from a corporate governance standpoint correctly from the get-go,’’ he said.
Dr Nxasana acknowledged the significance of accommodating the views and opinions of others in the organisation as a leader to avoid corporate governance failures.
“How do I make sure that for starters people who work for our group know they have a voice? This includes the person who cleans the floors and the toilets because they often see things that are happening in the organization. We are to hang up on our status, positions, and qualifications and we don’t take their views on board,” Dr Nxasana said.
Delivering a vote of thanks, Prof Mashau expressed his gratitude to the speakers for demonstrating excellence and for their presence which he deemed as a testament to the principles of corporate governance and business ethics. The next event of this caliber is scheduled to take place in the middle of the first semester in 2025.
Pictured: Director of Advancement and Alumni Relations unit, Mr Zwakele Ngubane, CEO and founder of Sifiso Learning Group, Dr Sizwe Nxasana, and Board Chairperson of the Inkosi Albert Luthuli International Convention Centre (Durban ICC), Dr Mduduzi Bophela during the DUT Business School Conversations with the CEO’s event.
Thulasizwe Nkomo
