Advancing Corporate Governance in the Middle East and North Africa: Stories and Solutions

This new publication presents real-world, practical examples of how companies in Middle East and North Africa (MENA) region overcame barriers and improved their governance practices in ways that benefited performance and growth. The featured companies have taken an incremental, nuanced approach, focusing on the corporate governance improvements most applicable and relevant for their size, industry, market, ownership structure, and corporate strategy. The cases demonstrate how key principles can be translated into actual practice to elicit tangible results.

The guide is based on interviews conducted with medium-sized enterprises, larger companies, and banks in MENA. A conscious effort was made to include family-owned companies in this guide, along with state-owned enterprises, companies with private equity interests, and other forms of ownership.

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The publication is accompanied by a short video that tells the corporate governance story of two companies — NCA Rouiba in Algeria and Nuqul Group in Jordan. It highlights why and how these companies implemented corporate governance practices and the concrete benefits from these changes.



Structure and Themes of the Guide

Section I: Five motivating factors as key reasons for investing in corporate
governance.

• Access to Capital and Attracting Investors
• Improving Employee Motivation
• Risk Management
• Managing Growth
• Family Succession

Section II: Case Studies: companies representing different sectors and countries in MENA profiled.



Section III: This section examines four areas of improvement that will drive corporate governance change.

• Board of directors: Improving and clarifying board functions.
• Risk and control: Anticipating risks and establishing internal controls.
• Transparency: Fostering transparent practices.
• Family-owned enterprise governance: Introducing new corporate governance practices.

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The publication and video were produced by the Center for International Private Enterprise (www.cipe.org) and the Global Corporate Governance Forum, with financial support from the National Endowment for Democracy.