The COSASE committee of parliament that all government agencies report to, have queried the huge salary of Uganda Airline staff forgetting that these government agencies are run using modern corporate governance practices which make them more competitive and deliver excellent services to Ugandans and other stakeholders.
What do you expect the board of directors of Uganda Airlines to do if government wants them to be the number one Airline in the region in 5 years? The first thing would be how to consider competitive renumeration in order to attract best workforce.
In Uganda, we have agencies that give value for money like UNRA, NWSC, URSB, ERA, NSSF, among others which have proven to be more effective in serving Ugandans.They should henceforth be considered by their boards of directors to increase their salaries and allowances looking at our cost of living index in order to increase their motivation and productivity.
This is how we define corporate governance. Corporate governance forms the basis for corporations to make decisions that consider many environments, including economic, social, regulatory and the market environment.
Corporate governance gets its roots in ethical behavior and business principles, with the goal of creating long-term value and sustainability for all stakeholders. Corporate board directors face the continual challenge of aligning the interests of the board, management, investors, shareholders and stakeholders. They respond to their duties and responsibilities with full regard to transparency and accountability.
It’s often said that corporate boards are responsible for providing oversight, insight and foresight. That’s a tall order in today’s marketplace, which is complex and volatile. Good governance principles are fundamental to the work that board directors do.
Ben Ssebuguzi is Public Awareness expert fellow from Public Opinion international.He is also Secretary General of Uganda poor youth movement.
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