Abstract

Objectives: This study investigates the role of corporate governance characteristics in mitigating financial risks, specifically liquidity, credit, and operational risks, faced by entrepreneurial ventures, with a focus on Zadna Company, a Sudanese food manufacturing firm of national economic and social importance. Methods: The study adopts a descriptive, analytical method. Data was collected through a structured questionnaire distributed to 80 managers and employees and analyzed using correlation and regression analysis in SPSS. Results: Findings indicate that applying governance principles significantly enhances financial management efficiency and risk mitigation capacity. Specifically, transparency in financial disclosure reduced financial irregularities by approximately 27%, board independence improved oversight and strategic decision-making, and corporate social responsibility contributed to institutional stability and corporate reputation. Conclusions: Key recommendations include strengthening board independence, enhancing transparency and disclosure practices, supporting audit committees with clear and defined mandates, and adopting a governance framework tailored to the local context.