ACCA Africa Study Abridged Report Successful organisations take advantage of these factors to improve their businesses, but with these factors also comes the risk of fraud due to complexity of the operational environment and systems of internal controls that do not evolve in line with the complexity.
The reasons for a focus on Africa are compelling. According to World Bank data Africa had six out of the 12 fastest growing economies between 2014 and 2016, and the continent’s population1 isset to more than double by 2060, with a corresponding increase in the urbanised and middle-class population. This growth story also illustrates the challenges of rapid economic growth in developing economies.
Against this background, the need for adequate and effective corporate governance frameworks becomes evenmore critical than previously. This growth requires investment and investors willonly invest where they can see a strongand effective corporate governance infrastructure to protect their investment.
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