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.