USB’s new matrix measures corporate governance levels of JSE companies

By the University of Stellenbosch Business School, April 29, 2010

The inaugural 2010 PIC Corporate Governance Rating Matrix of the top 40 JSE companies conducted by the University of Stellenbosch Business School’s Unit for Corporate Governance in Africa on behalf of the Public Investment Corporation (PIC) has been released.

The matrix measures corporate governance levels of the top 40 Johannesburg Stock Exchange (JSE) -listed companies in South Africa. According to Deon Botha, corporate governance specialist at the PIC, it aims to shape corporate behaviour by encouraging further transparency among the country’s leading corporations.

The results were released at a corporate governance conference hosted by the USB’s Unit for Corporate Governance in Africa at the Cape Town International Convention Centre on 20 and 21 April 2010.

“We believe that those companies that have good levels of corporate governance tend to be more sustainable and will therefore deliver better value over time. The matrix will also play a role in encouraging a shift in corporate mindsets away from a short-term focus towards delivering long-term value.”

The matrix revealed that South Africa’s mining and banking sectors have the best records in terms of corporate governance and disclosure.

In alphabetical order, the top five rated companies according to the matrix were Anglo Platinum, FirstRand, Impala Platinum, Lonmin and Nedbank.

“This rating does not mean that companies toward the bottom are poorly governed. In some cases, the reason for a low score is that their levels of disclosure are below those of other corporations.” (continue reading)

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