QUESTION ONE

XYZ Innovations $($Pty$)$ Ltd$.$ is a tech startup founded by John and Sarah, who are childhood friends. The company specializes in developing cutting$-$edge software solutions for various industries. Over the years, the company has grown rapidly and attracted investors due to its innovative products. However, recently, XYZ Innovations $($Pty$)$ Ltd$.$ has been facing financial difficulties, and there have been disagreements between the founders regarding the company's future.

$1\mathrm{.}1$ Assess how the Companies Act $71$ of $2008$ shaped the landscape of corporate governance and business practices in South Africa since its enactment, and what the driving forces behind its implementation were.

$(10)$