Page 41 - Stanbic Bank IR 2024

STANBIC BANK BOTSWANA LIMITED | Integrated Report 2024 39

PRINCIPLE 4

Strategy and Reporting

The Board appreciates that the Bank’s core purpose, its risks and opportunities, strategy,
business model, performance and sustainable development are all inseparable elements of
the value creation process.
The Board receives quarterly reports on the performance of the Bank. The performance of the Bank is measured against targets,
milestones and Key Performance Indicators set and agreed between the Board and Management. Various members of the Country
Leadership Council attend Board Committee and Board meetings to report and address questions relating to the performance of
the Bank.

The strategy of the Bank is approved by the Board after extensive engagement with Management. On an annual basis the Board
reviews the strategy of the Bank. In 2024, the Board Strategy Session was held in an offsite meeting with the entire Country
Leadership Council. The review of the strategy includes assessing whether initiatives are balanced to create sustainable value for
all stakeholders.

Board Meetings The Board’s discussions were centred around
the following Strategic Drivers:
The Board meeting process is meticulously designed to ensure
effective governance, strategic oversight, and informed
decision-making, in alignment with the King IV Code on
Corporate Governance and international best practices. The
process emphasises regulatory compliance, the Bank’s Client focus
strategic objectives, and forward-looking deliverables, and is
structured as follows:
1. Agenda Preparation and Planning
The Company Secretary, in collabouration with the Chief Employee engagement
Executive (CE) and the Board Chair, prepares the meeting
agendas. These agendas are carefully crafted to align with the
Bank’s annual planning cycle, incorporating routine items,
strategic priorities, and emerging issues impacting the Bank and Risk and conduct
group. This ensures the Board’s focus remains firmly aligned
with the Bank’s long-term objectives and stakeholder interests,
while maintaining a forward-looking perspective.

2. Consultation and Prioritisation Operational
excellence
The Board Chair, supported by the Company Secretary, consults
with the CE to identify, and prioritise critical matters requiring
Board deliberation. This includes emerging risks, strategic
opportunities, and governance-related issues. Particular
attention is given to allocating sufficient time for the Board to Financial
outcome
thoroughly address matters material to the Bank’s success,
including regulatory compliance, risk management, and
sustainability.
3. Timely Circulation of Board Papers Positive
impact
To enable informed and effective decision-making, Board papers
are distributed to directors well in advance of meetings. This
allows directors ample time to review materials, seek
clarifications where needed, and prepare for meaningful
discussions. The quality and comprehensiveness of Board
papers are prioritised to support robust governance and This structured and disciplined process
oversight. reflects the Board’s unwavering commitment
to strong governance, ethical leadership, and
4. Closed Sessions for Non-Executive Directors the creation of sustainable value for all
At every Board meeting, non-executive directors convene in stakeholders. It ensures that the Board
closed sessions, excluding executive directors. These sessions, remains focused on driving the Bank’s
led by the Board Chair, provide an independent forum for strategic objectives while maintaining
non-executive directors to deliberate, challenge assumptions, compliance with regulatory requirements and
and address matters that may not be suitable for discussion in delivering forward-looking outcomes.
the presence of executives. Feedback from these sessions is Furthermore, emphasises alignment with King
shared with the Group CE, as appropriate, to ensure alignment IV principles, and highlights the Board’s
and address any concerns raised. commitment to governance best practices.