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CHAPTER ONE:
1.1 GENERAL INTRODUCTION
During the past two decades, governance has become a key concept in the international development debate and policy discourse. In Africa, where there has been an historical record of bad governance, improving the governance environment has been given a central place in the New Partnership for Africa’s Development (NEPAD) an initiative that represents the latest attempt by African leaders to place the African continent on a path of sustainable development encompassing good governance and prosperity with a consolidation of peace, security and instability. The NEPAD list a number of prerequisites for African countries to move forward in their quest for sustainable development. Key among these is the proper adherence to good political, economic, and corporate governance.
NEPAD is a partnership programme established between Africa and G8 (the most developed countries in the world) countries. It emphasizes three dimensions of governance; namely economic and corporate governance; political governance; and peace and security among other things. NEPAD represents a form of moral contract between African countries and the G8. while the former strive to improve governance and promote democracy by undertaken political reforms and market-friendly economic policies, the latter undertakes to assist those African countries committed to good governance, the promotion of human rights, poverty eradication, and economic growth. Such assistance is to be given through a progamme of “enhanced partnership” established by the G8 at the Kananaski (Canada) Summit in June 2002. This is a programme through which African countries meetin ...