African Philosophies and Corporate Governance: The Ubuntu Experience
Veronica Ekundayo Ph.D* and Toluwalase Ajibade**
Relationship and their effects in typical African society, whether positive or negative borders on the Ubuntu experience. One core characteristics of the Ubuntu philosophy is dependency on one another. Relating this philosophy to corporate governance means that the various organs in a corporation have to work cooperatively, in order to achieve corporate goals. Corporate governance facilitates the attainment of these goals through the collaboration, support, and interdependency of every component parts of the corporation. Like the Ubuntu philosophy, corporate governance focuses on seeking to attain a common goal for the good of all. This study aims to establish the relevance of Ubuntu philosophy to and its impact on good corporate governance practice. The study reveals the benefits of the Ubuntu philosophy and provides recommendations in support of the philosophy in modern corporate governance practice.
Keywords: Ubuntu, Africa, Corporate Governance, Philosophy, Societies and Corporations