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{
    "id": 928877,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/928877/?format=api",
    "text_counter": 149,
    "type": "speech",
    "speaker_name": "Nominated, ANC",
    "speaker_title": "Hon. Godfrey Osotsi",
    "speaker": {
        "id": 13172,
        "legal_name": "Godfrey Osotsi",
        "slug": "godfrey-osotsi"
    },
    "content": "When we talk about corporate governance, we are also talking about issues of taxation. If we fix corporate governance in our organisation, we will be able to get enough resources through taxation because we are losing a lot of taxation resources because of poor corporate governance in our organisations. We are also talking about real issues like IT governance. Issues to do with cyber-crime and data protection. If we have directors who understand what corporate governance means and what issues of IT governance mean, then we will be able to deal with some of the challenges we have been having. I fully support this Bill and I want to encourage Members to also support it because it is in line with the best practice globally. In fact, at the moment, there is a huge shift in corporate governance. Instead of focusing on short term profits, we are talking about inclusive capitalism, issues of social corporate responsibility. These are issues that this country must deal with. We are talking about silo reporting. Silo reporting is where we focus too much on financial reporting. We want to see the financial report of an organisation. We need to start focusing on integrated reporting. That is what modern corporate governance says. So, this is a very important piece of legislation. Small issues which I have personally identified and Members have talked about can be corrected at the Committee of the whole House. Let us pass this Bill as it is, then we deal with those issues at the Committee of the whole House. Thank you, I support this Bill."
}