Africapitalism and Corporate Governance

Corporate governance is contextual (Adegbite and Nakajima, 2011), and context matters to Africapitalism (Amaeshi and Idemudia, 2015). The existence of different national institutions means that increased global competition, as well as the integration of financial markets, will not express themselves in the same ways in different national governance systems. As different systems of capitalism typically produce different responses to similar pressures, a one-size-fits-all approach to the firm’s governance is unattractive (Aguilera and Jackson, 2003). Following this position, the Africapitalist corporate governance model articulated in this chapter presents itself as an important structure for conceptualising, understanding and committing to the private sector’s participation in Africa’s socio-economic development. Therefore, defining and articulating the principles of this Africapitalist corporate governance model represents the main objective and contribution of this chapter. Drawing insights from Africa’s leading economies (South Africa and Nigeria), our discussions facilitate the emergence of a workable, practical and useful corporate governance model, which in turn promotes the Africapitalism project.