BOAF SHARE: Did you know that Directors do not owe fiduciary duties to shareholders, but to the company itself?

This share is part of the Banking on Africa’s Future (BOAF) corporate heritage literacy campaign to raise awareness of the relationship between shareholders and a company, shareholders and directors, and directors and the company they serve.

Where is wisdom and understanding to be found that directors owe a fiduciary duty to the company and not to the shareholders?

That profits belong to the company, not to shareholders. That shareholders are like parents and their relationship with the children they bring into the world is complex but simple. Children are not owned by parents but they are related.

https://www.clydeco.com/en/insights/2020/07/ground-breaking-judgment-in-south-africa-directors