This study examines governance structures within State-Owned Enterprises (SOEs) in Zambia, focusing on their role and impact during a specific period. Qualitative research methods, including semi-structured interviews with key stakeholders such as board members and managers, were employed to gather insights into governance practices within selected SOEs. Findings indicate a significant preference for involving local communities in decision-making processes (85%) compared to purely government-driven models, highlighting the importance of stakeholder engagement for sustainable development. The study concludes that effective governance structures are crucial for enhancing accountability and efficiency within Zambian SOEs. Recommendations focus on integrating community voices into corporate governance frameworks. Recommendations include fostering greater integration between local communities and SOE management to improve decision-making processes and ensure accountability.