'It's time to play by a new (ethical) set of rules,' says Strive Masiyiwa

Respect for contracts and agreements drives business.

When I first moved to live in South Africa, about 15 years ago, I was interviewed by one of the leading weekly business magazines, Financial Mail. It was probably the biggest interview I'd ever done as an entrepreneur. The journalist asked me what I considered to be one of the greatest challenges for developing businesses in Africa. At the time, I said that we needed to foster a strong culture for respecting contracts and agreements.

To my surprise the editor decided to make it the cover page of the magazine!

I believe strongly that respect for contracts and agreements drives business success.

So many people believe they can just tear up an agreement, or completely ignore it, once its terms no longer suit their own interests. As you saw in the Nigerian shareholder disputes, my partners signed all the terms of the agreement when they needed me to secure the license and start the business. As soon as that agreement no longer served their own interests, or it stood in the way of what they wanted to do, they just cast it aside.

Sometimes in business negotiations, you may not have negotiated as well as you could have. Sometimes later you find that you could have got a better deal. Perhaps you may even feel that the other party did not disclose certain things. Does this mean that you can then tear up the agreement that you just signed?

For those of you familiar with the bible you may recall that Joshua was confronted with such a situation following his agreement with the Gibeonites. Joshua had every reason to feel cheated, but he did not tear up the agreement. Instead, he risked his life and that of his entire army to fulfill his obligations under that agreement. Most importantly, God showed His approval for Joshua's stance by helping him in his battle on behalf of the Gibeonites.

The people of Israel were angry with their leaders because of the peace treaty.

But the leaders replied, "We have sworn before the Lord God of Israel that we will not touch them, and we won't. (Joshua 9:18).

Does this mean you cannot try to renegotiate a bad deal with your partners? Of course not, but always do so first acknowledging and respecting at all times that there is an agreement. Do your best to get a better deal, but don't act in bad faith by twisting and turning over something you agreed to.

There are many people who will agree to almost anything when they want something, but as soon as they have what they want, or their circumstances have changed and they have more power (or money), they behave as though there was never an agreement.

The Tentmaker said, "Don't be like them," because that is called "lawlessness."

Treat each agreement that you enter into with others as though you had sworn it by oath before God.

__For Africa to move forward, we MUST replace a culture of impunity with a culture of integrity...starting with our own families, businesses and communities. And we must model that integrity in our actions, not just talk about it!

There will be times when, for any number of reasons, you cannot fulfill your end of a deal you've entered into. In such situations, engage the other party and be honest in telling them your difficulty. Don't run away or act dishonorably.

There will also be time when you are a successor to an agreement entered into by others before you bought the business, or took it over from someone else. You are bound by every agreement that they entered into on behalf of that business. It was your duty to check every agreement beforehand. Once you sign it, then you must adhere to it.

___There's a saying, "Caveat emptor." It means, "Let the buyer beware!" It is your responsibility to do your homework in advance of signing any agreement. Don't let anyone rush you, no matter how big or powerful you think they are.

As your business gets bigger, others (like your staff) will enter into agreements on your behalf. If they were authorised to enter such agreements, then respect them, even if they are bad.

Finally, remember once again what Abraham Lincoln observed:

"Nearly all men can stand adversity, but if you want to see a man's character give him power."

‪#‎If‬ you are only humble and approachable when you don't have a big office or money, what does this reveal about your character?

#If you later show disrespect and contempt for those who ask you to honor your word, treating them like a nuisance, what does that say about your integrity?

If you tear up legal agreements and do not observe legal contracts, this means quite simply that you do not respect rule of law.

Of a truth, you are really only as big as the extent to which you will go to respect a contract and an agreement. For Africa to prosper, we must all commit ourselves not only to promoting rule of law, but also complying with and respecting the spirit of the law.

The end of the corruption series…for now.