Investigating the gaps in the successful application of the Namcode in listed entities: A case study of Namibia breweries limited

Abstract

This study investigated the gaps in the successful application of the Namibian Code of Corporate Governance (NamCode) within listed entities, with Namibia Breweries Limited (NBL) as a case study. The primary aim was to explore the challenges that hinder the effective implementation of NamCode principles and to assess their impact on corporate governance outcomes. Employing a qualitative research design, the study gathered data through semi-structured interviews with key stakeholders, document analysis, and secondary sources. The findings revealed several barriers, including insufficient training, limited stakeholder engagement, resource constraints, and resistance to change within organisational culture. Despite the NamCode’s emphasis on transparency, accountability, and ethical leadership, the practical implementation at NBL demonstrated inconsistent application of these principles. The study also found that while the NamCode positively influenced transparency and accountability, its impact on fostering ethical leadership and stakeholder trust was limited due to inadequate capacity-building efforts. The study concluded that addressing these gaps requires enhanced training programmes, improved resource allocation, stronger enforcement mechanisms, and a shift towards a governance-oriented culture. Recommendations included targeted leadership development initiatives, integration of stakeholder engagement frameworks, and regular capacity-building workshops to ensure the effective implementation of the NamCode. These insights provide a foundation for improving corporate governance in Namibia’s listed entities and contribute to the broader discourse on governance in emerging economies.