Borio et al note that there are two dimensions to consider in governance – vertical and horizontal governance.2 Vertical governance ensures that decisions are taken at the right level (senior executives), that is, where the strategic direction of the organisation is established. Senior management of the institution should carry out the responsibility of oversight on the investment process and management of reserves.
We also better understand our circumstances and challenges through stories, and it is imperative that we both tell and hear the many varied South African stories that make up the complex fabric of our society. Each year, the World Bank publishes its World Development Report covering a particular theme of development. This year, it has titled its report “Jobs”.