African Union INDICATORS: (i) Describe your country‟s approach to corporate governance in the private, public and not-forprofit sectors indicating differences in approach, if any, between the three sectors (private, public and not-for-profit). If any measures have been introduced provide details on the year introduced, title, originator and body responsible for revision and or enforcement. Please distinguish what is being done by the State and what is being done by professional/business associations to promote good corporate governance (ii) Describe any corporate governance standards that have been adopted for public sector bodies such as public authorities/ Commissions (e.g. Health Service Commission, Education Service Commission, governing bodies of higher intuitions of learning/technical colleges) (iii) Comment on whether the frameworks for corporate governance are voluntary or mandatory or a mix of both in each of the three sectors. Explain the rationale for the choice of enforcement and comment on how effective it has been. QUESTION 6 What measures are being taken in your country to support and improve governance in the informal sector? The informal sector can make up a large proportion of the economy of many African countries in both urban and rural areas and therefore the improvement of governance of entities within this sector is very important. The informal sector is an economic activity that is often neither taxed nor monitored by a government, and is not included in that governments‟ Gross National product. Organisations or persons operating within this sector will not have registered themselves i.e.as a corporate entity, under business name registration or as an NGO. Many family-owned businesses, micro and small sized enterprises and not for profit organisations may fall into this category especially those operating in rural areas. Care needs to be taken to clarify whether a particular organisation falls within the formal or informal sector. Size should not be used as the primary indicator as some very small or micro organisations are in the formal sector (they are registered in some way) and some larger organisations are in the informal sector as they have not registered themselves under appropriate regulations. It has been suggested that within many African countries more than 50% of the labour force is employed in the informal sector. INDICATORS (i) (ii) Explain your country‟s approach (if any) to educating those working in the informal sector in corporate governance best practices, financial literacy etc Please provide details of any measures that have been taken in your country to support and/or improve governance in the informal sector, together with details of the providers. QUESTION 7: What measures are being taken by organisations in your country to engage the local population in business opportunities, i.e. as suppliers, distributors etc, as well as capacity building and as a guarantor for finance? 53