Botswana- Development of a Corporate Governance Code The project activities can be categorized into three components as follows: A.Preparation of a Corporate Governance Code will involve the following activities: i)Consultancy to develop the code-3 international consultants namely a financial management expert, an economist and a lawyer to be engaged for six weeks ii)Development of a database software to be used for the preparation of Code iii)Production of draft Codes for public distribution and comments estimated at 250-400 pages iv)Production of final Codes for public distribution . estimated at 250-400 pages v)National Validation workshop B.Dissemination of the Corporate Governance Code will involve the following activities: i)Regional Workshops in 9 districts to disseminate the code ii)Development of website to be used for public dissemination of the code iii)Monitoring compliance and enforcement C. Capacity Building will be financed fully by the Institute as local contribution and will entail the following activities: i)Provision of technical training: The institute will provide technical training in modern business practices and management techniques and possible certification to participating Directors, especially those who are members of the Institute;ii)Study tours: The Institute will conduct study tours in collaboration with other international associations to ensure that it remains up to date at all times with the latest best practices. It will in particular work closely with other establishments in the SADC region.It is therefore expected that the long term benefits to the nation will include due recognition of best practices by Directors in running companies. Needless to say that all the above activities will entail building a significant amount of capacity and deployment of resources through partnerships. Botswana has been extolled as a success story in Africa in terms of governance. In order to enhance the competitiveness of its economy, however, it has to promote corporate governance while simultaneously consolidating the gains in political governance. Promotion of corporate governance is also seen as a means of achieving the MDGs, particularly MDG 8 (Development of Global Partnerships for Development). The development of a Corporate Governance Code will have multiplier effects on the management of business entities in Botswana while a fully resourced Institute will provide services to a diverse group of stakeholders. This project is expected to have a significant impact on the success of other ongoing institutions and initiatives such as the International Financial Services Center (IFSC) Vision 2016 and the Public Enterprises Evaluation and Privatization Authority (PEEPA). The success of the IFSC depends, among other things, on the quality of governance of companies operating under it. In addition, foreign investors need to have confidence in the Botswana governance system in order to invest in the country. The realization of Vision 2016 hinges, among other things, on public private partnerships implying that there is need to promote corporate governance as a prerequisite for poverty reduction and employment creation. The PEEPA has been established as an independent entity to oversee the implementation of the privatization policy and public enterprise reform in Botswana. The Directors' Institute is expected to provide technical assistance to PEEPA in terms of selection of Directors' of state owned enterprises.