The main aim of this chapter is to critically review the existing research on the impact of politicization of parastatals to service delivery. Several literatures shall be reviewed that covers corporate governance in trying to investigate how then politicization finds its way to the core of these state-owned entities/corporations leading to their poor performance. In so doing the researchers themes will circle around issues to do with transparency and accountability through concentrating on various actors within corporate governance Several scholars have done some research on issues to do with corporate governance with most work tackling how strong relations between the owners of corporations and their representatives can be achieved, how corporates can maximize profits, behavior of stakeholders and agents amongst other things, however little attention has been given to discuss issues to do with corporate governance on the appointment of directors by principals and the role played by politics of patronage. With the varying factors influencing corporate governance, the thesis will also include the ownership structure, the structure of company boards, the financial structure and the institutional structure. Mechanisms of corporate governance will also be reviewed like the companies’ act, the security laws, the discipline of capital market, nominees of company boards, statutory audit and codes of conduct.