When the Institute is celebrating corporate governance, it is something everyone should be involved in. It is their opportunity to shine. We know that Financial Institutions mainly banks, and insurance companies are one of the most highly regulated entities. If they are regulated entities, when it comes to any award that is awarding compliance, these institutions should be at the fore front. There is a Financial Institutions Act which provides minimum benchmarks for anyone to run a bank. It also provides for the appointment of the board, and how it should run the business. The Central Bank vets board members…
ICGU Corporate Governance Awards 2018
The Institute of Corporate Governance of Uganda (ICGU) has organised the first Corporate Governance awards that will take place on 17th May 2018 at Kampala Serena Hotel. This is one of the key milestones happening in the country. We will be celebrating the best corporate governance practitioners. As the secretary of ICGU, corporate governance is key to a company’s success. Any organisation in Uganda must participate because it is an opportunity to put your corporate governance practices to the test. There are so many organizations that have put boards in place but are doing things which do not necessarily add…
How to evaluate the board’s effectiveness
To effectively evaluate the board, you must have set targets against which you are evaluating the board members. This calls for an effective governance structure and separation of powers. At the topmost, there must be the owner of the business. For publicly listed companies, these are shareholders with an equity certificate. The shareholders, at the AGM or annual general meeting, must elect the board members and set clear targets for the board so appointed. For emphasis, when the owner/ shareholders appoint the board, she/he must give them a score card or targets that are measurable. According to Kaplan and Norton,…
