The Board performs its various duties and responsibilities through Four (4) Committees. All Board Committees make recommendations for consideration and approval by the full Board. The Committees meet at least once in every quarter.

The Terms of reference of the Establishment Committee are as follows:

• To define the criteria and the procedure for the appointments and promotion of key officer of the company from manager cadres and above.
• To oversee proper administration of the Board approved Performance-based Appraisal and Remuneration System.
• To review from time to time the organizational structure and succession planning proposals of the group and make appropriate recommendations to the full Board
• Oversees the implementation of Board-approved Performance Goals and objectives for the Executive Directors and Top Management

The establishment and corporate committee team consists of Six (6) members comprising of

• 3 (Three) Non-Executive Directors
• 3 (Three) Executive Directors

The Terms of reference of the Audit, Risk Management and Compliance Committee are as follows:

• The Committee shall be responsible for the review of the integrity of the data and information provided in the Audit and/or Financial Reports.
• To provide oversight functions with regards to both the company’s finances with regard to both the company’s financial statement and its internal control and risk management functions.
• To review the terms of engagement and recommend the appointment or reappointment and compensation of External Auditors to the Board and the Shareholders.

The Audit, Risk Management and Compliance team consists of Six (6) members comprising of

• 3 (Three) Non-Executive Directors
• 3 (Three) Executive Directors

The Terms of Reference of the Committee

• Ascertain whether the accounting and reporting policies of the Company are in accordance with legal requirements and agreed ethical practices;
• Review the scope of the planning of audit requirements.
• Review the findings on management matters in conjunction with the External Auditors and departmental responses thereon
• Keep under review the effectiveness of the Company’s system of accounting and internal control.
• Make recommendations to the Board with regard to the appointment, removal and remuneration of the External Auditors of the Company.
• Authorize the internal auditor to carry out an investigation into activities of the Company which may be of interest or concern to the committee.

The Statutory Shareholder Audit team consists of Five (5) members comprising of

• 3 (Three) Shareholders Representative
• 2 (Two) Non- Executive Directors