Building Business Success Through Training

I arrived at the Julius Nyerere International Airport, Dar es Salaam on Wednesday 23 July after a brief stopover in Mombasa. I was here to attend an executive committee meeting of the African Corporate Governance Network (ACGN) and the IFC Capacity Building and Training of Trainers programme on Toolkit One of the Global Corporate Governance Forum.

Co-founded by the World Bank and the Organisation for Economic Co-operation and Development (OECD), the Global Corporate Governance Forum is an advocate, a supporter, and a disseminator of high standards and practices of corporate governance worldwide, especially in developing countries and transition economies. Through its co-founders and other donors, including the governments of India, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom, and the United States, the Forum brings together developed and developing countries.

Dar es-Salaam meaning: Place of Peace, is the largest city and former capital of Tanzania. It is the largest city in East Africa and the seventh-largest in Africa. Dar es-Salaam is an important economic centre and one of the fastest growing cities in the world. Until 1974, Dar es-Salaam served as Tanzania's capital city before President Julius Nyerere ordered the capital to be moved to Dodoma. It remains Tanzania's most prominent city in arts, fashion, media, music, film and television and is a leading financial centre.

I made my way to the Protea Courtyard Hotel at Seaview Ocean Road. It is conveniently located near Julius Nyerere International Airport, the city centre and a tranquil, beautiful beach. It is a favourite of leisure travelers before or after their ventures to the famous Serengeti National Park or Ngorongoro Crater, Lake Manyara, Sealous Game Reserve and Zanzibar. Tastefully decorated in colonial style, I love the way the rooms are built around a beautiful, lush, green courtyard with a view of the refreshing outdoor pool. Being the Ramadan season, the atmosphere was somber.

The Train-the-Trainer programme was professionally delivered by Anne Molyneux, director of CS International, a global consulting firm. She is an experienced director who advises in corporate governance and reporting, banking and securities regulations. She is a business representative and contributor to the OECD Corporate Governance Steering Committee. As Vice-Chair of the International Corporate Governance Network (ICGN) – the global investor community with $34 trillion under investment, she represents the ICGN, on the International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group, the International Ethics Standards Board for Accountants (IESBA) Consultative Advisory Group and the International Integrated Reporting Council (IIRC).  

It was an intense training programme with delegates from Nigeria, South Africa, Tanzania, Mozambique, Zambia, , Kenya, Mauritius, Zimbabwe, Ethiopia, Tunisia and Egypt. Anne used the toolkit to distill practical experience from seventeen (17) developed and developing countries and provides practical advice on building organizations that train corporate directors in sound corporate governance practices. 

Module 1 provides the basic information needed to launch a director training organization: 

a. Incentives for training directors

b. Types of organizations that train directors

c. Key roles of organizations that train directors

d. First steps in starting an organization that trains directors

e. Components of a business plan

f. Common challenges in the start-up phase

g. Sources of start-up funding

Module 2 discusses the main steps in setting up and developing the structure of the organization: 

a. Duties and responsibilities of the governing body of the organization

b. Key positions on the governing body

c. Key staff positions

d. Elements of the organization’s charter (constitution)

e. How to draft a code of ethics and a code of conduct

Module 3 offers information on developing, delivering, and managing a training program that meets the needs of directors: 

a. Targeting the appropriate director markets

b. Identifying the professional requirements and learning needs of directors

c. Developing a training curriculum

d. Developing a syllabus and testing individual courses

e. Tailoring training methods to the learning styles of directors

f. Managing and staffing a training program

g. Evaluating a training course

h. Certifying directors

Module 4 discusses several types of activities and services that an organization may offer besides training: 

a. Activities and services that can generate income

b. Sponsorship and affinity programs

c. Developing a membership base

d. Pricing membership fees

e. Recruiting and retaining members

f. Managing membership data

Module 5 provides an overview of budgeting principles and management accounting structures. It contains information on financial statements, risk, internal control procedures, and performance measures. Specifically, this module will help with the following:

a. Drawing up a budget

b. Putting together the key financial statements for the annual report

c. Using indicators to assess and monitor the performance of the organization

d. Setting internal controls to ensure that the organization is run in accordance

I met Professor Deon Rossouw of the Ethics Institute of South Africa. We found a lot of common areas for improving corporate governance practice in Africa.

On Sunday 27 July, I left for Addis Ababa, Ethiopia as I happily munched on my box of chocolates.