Board Induction Training Programme
Board Induction Training Programme
About
25 newly appointed board of directors at various public enterprises underwent a
two day induction programme to orient them on key principles of corporate
governance which include fiduciary duties of the boards, how to run board
meeting effectively, and how to steer public enterprises strategies.
The
induction training programme provided by NIPAM, took place on 29 – 30 October
2018.
Speaking
at the official closing ceremony, Deputy Minister of Public Enterprises Hon.
Veikko Nekundi said, the shareholders are expecting boards to comply with the requirements
stipulated by the Public Enterprises Governance Act, (PEGA), Act of 2006 and
the draft PEGA Bill of 2018.
Hon.
Nekundi alerted participants that poor board performance or non-compliance of
boards will not be tolerated and boards found not to be complying will be held
accountable as per company act and related legislations. Individual board
evaluation will start in 2019 which will also include 360 degree evaluation
processes since the board evaluation guidelines has been drafted and will be
submitted to Cabinet for approval.
Namibia
Institute of Public Administration and Management (NIPAM), Executive Director,
Ms. Maria Ndatiwelao Nangolo, said, NIPAM is a service provider of choice for industry-based
professionals and executives. “As an
institution we have placed high esteem and value to the development and mentorship
of institutional board of directors and chief executive officers because of
their key role in providing leadership and accountability that determines the
success of institutions. Our director development offerings contribute to the development of better
directors, and ultimately, better boards. The enhanced leadership and direction
in turn delivered by these well-equipped boards will, we believe, yield better
business results”.
Ms.
Nangolo underscored that NIPAM’s offerings are aligned with the industry
capacity needs, and therefore continuously striving to deliver relevant
interventions – trainings, assessments and certifications that equip directors
with the necessary knowledge and insights required to fulfil their duties and
to appreciate the importance of good governance.
The
two days induction training programme covered areas of expectations from the
shareholders including relationships between board and shareholders,
presentations on the 2018 public enterprises governance bill currently being
debated in the national assembly, and presentation on the board recruitment
guidelines to ensure that competent boards are appointed through a transparent
process.
Other
key focus areas presented were; corporate governance principles in line with
king IV and Nam code, role of board committees, how to develop public
enterprises corporate strategies, leadership roles of the boards and aspects of culture and ethics. 