Towards a “hybrid” African corporate governance model: Evidence from post apartheid South Africa

Abstract

This paper investigates how unique socio economic conditions have hybridized the Anglo-American corporate governance (CG) model in South Africa (SA). The paper evaluates two key questions. (1) Are the Anglo-American and the continental European CG models converging to a hybrid model?(2) How Does the infusion of the “ubuntu” philosophy and affirmative action rules into the Anglo-American CG model create a “hybrid” African CG model in South Africa? In making these assessments we explore the shareholder and the stakeholder models of CG and assess these models are converging. We next explore CG in SA and examine how the African “ubuntu” philosophy and the inclusion of the various affirmative action rules in South African CG have created a “hybrid” African CG model.