The Group is fully committed to good corporate governance in dealing with shareholders and all other stakeholders. The Group endorses internationally accepted corporate governance practices.
BOARD OF DIRECTORS
In terms of the Memorandum and Articles of Association, the Board is constituted of 9 directors of which some are executives. The non-executive directors, drawing on their skills and business acumen, ensure impartial and objective viewpoints in the decision making process and standards of conduct. Composition of the board ensures a balanced mix of technical, entrepreneurial and business skills.
The roles of the Chairman and Chief Executive Officer vest in two people. Mr Alaudin Osman is the non-executive Chairman of the Group and Mr. Vizenge Kumwenda serves in the separate role of Managing Director and Chief Executive.
The Board retains full and effective control over the Group. While the Group’s executive directors sit on the boards of subsidiaries, day to day operations are in the hands of local executive management of each subsidiary.
The Board meets at least four times a year and additional meetings are held on a need basis.
The board has the following committees to assist it with its duties:
- Finance and Audit Committee
- Appointments and Remuneration Committee
- Investment Committee
- Risk Working Committee