Page 38 - Stanbic Bank IR 2024

36 EXECUTING OUR STRATEGY | Our Corporate Governance Principles

OUR CORPORATE

GOVERNANCE PRINCIPLES

Introduction

The King IV Code on Application of the King IV principles is achieved
Corporate Governance through two mechanisms:
(King IV) forms the
cornerstone of our
corporate governance Internal controls External
regulations
principles and practices. Adherence to the Bank’s Compliance with all applicable
constitution, frameworks,
standards, policies, and regulatory requirements,
The Governance Section of the Integrated mandates, which cover all including the Companies Act,
Banking Act, Basel Corporate
Report demonstrates how the board applied the aspects of the Bank’s Governance Principles for
King IV principles to set and steer the strategic activities. Banks, BSE Listings
direction of the Bank and ensured oversight and Requirements and King IV.
monitoring of the Bank’s performance through
appropriate accountability.

PRINCIPLE 1

Leadership

The Board leads the Bank ethically and effectively

Stanbic Bank Botswana Limited has a unitary board, comprising a total of thirteen (13) board members with two executive
directors and eleven (11) non-executive directors. The majority of the non-executive directors, including the Board Chair are
independent.

The Board acts as a cohesive unit with the collective experience and expertise of all the directors, serves as the custodian of
good governance, recognising that sound governance practices are fundamental to the sustainability of the Bank and are key
to ensuring that shareholder value is preserved for earning the trust of various stakeholders including regulators.

For the reporting period the Board is satisfied that it discharged its responsibilities appropriately and executed on its mandate.