The Ministry of Public Enterprises (MPE) as the custodian of good governance in Public Enterprises (PE) will be hosting a two-day PE Board of Directors Induction Training scheduled on 29 and 30 October 2020 at the Namibia Institute for Public Administration and Management (Nipam). It is the ministry’s mandate in accordance with the Public Enterprises Governance Act to provide training to newly appointed members of public enterprises on corporate governance and efficient management practices.
Consequently, the ministry will conduct the directors’ quarterly induction training, in collaboration with Nipam, with the objectives to: equip newly appointed directors on the Public Enterprises Governance Act.
Shareholders expectations and key governance requirements; promote full understating of the roles, fiduciary duties and responsibilities of directorship; and orient directors on the key aspects of corporate governance with emphasis on the King IV and Namcode.
Appointees on all PE boards were instructed to sign a governance agreement and performance agreements within 90 days from the date of appointment. The performance agreements contains key performance indicators aligned to the Integrated Strategic Business Plans and all board members will be subjected to annual performance appraisals.
“The boards must also ensure that the key performance indicators of their performance agreements are aligned to those of the chief executive officer/managing director and that a performance management system is in place to measure performance continuously,” explained MPE spokesperson, Johnathan Swartz.
He added that the induction will also be used as a platform to encourage directors to be more creative and innovative than ever to counter the negative effect that Covid-19 is having on the economy and the respective public enterprises.
The event will be officiated by Annascy Mwanyangapo, Executive Director of the Ministry of Public Enterprises, and Maria Ndatiwelao Nangolo, Executive Director of Nipam.
Seven boards will be participating in the induction training, namely Meat Corporation of Namibia (Meatco), Namibia Desert Diamonds (Namdia),
Namibia Industrial Development Agency (Nida), National Petroleum Corporation of Namibia (Namcor), New Era Publications Corporation, Namibia Tourism Board (NTB) and Namibia Power Corporation (NamPower).
2020-10-28 07:44:54 | 1 months ago