26 Oct 2010

Samoa PM emphasizes need to uphold good governance in board of directors role

10:34 am on 26 October 2010

The Samoa government will soon achieve its aim for Corporations and Institutes governed under the Companies and the Public Bodies Acts to be fully independent by the removal of government ministers and officials from all Board of Directors.

Speaking during a luncheon seminar the Prime Minister, Tuila'epa Sa'ilele Malielegaoi, said the move should strengthen the financial accountability and responsibility roles of every boards.

The prime minister has also stressed for the importance of the board members in its decision making capacity given legal obligations stipulated under existing legislations like the Companies and Public Bodies Acts.

But Tuila'epa has highlighted many issues and problems that arose out of conflict of interests, lack of honesty, poor recording systems and non-attendance of Board meetings.