Standing Committees of the Board
The Board has three (3) standing Committees to which various matters are delegated in accordance with their respective terms of reference. The Board also establishes committees on an ad hoc basis to deal with particular matters as and when needs arise. In doing so, the Board specifies the remit, quorum and participation of Trustees in the committees.
The Chairperson of the Board of Trustees does not participate in any of the Committees. As such, the membership of the Committees is refreshed every year as one Trustee steps down from the Chair and another ascends to it. The membership of every committee is three (3) Trustees at any one time.
Further information on the committees and their terms of reference are outlined below.
FINANCE AND AUDIT COMMITTEE
Members: Prof. Moses Maliro-Chairman, Mr Steven Matenje SC, Ms Linda Phiri, Hon. Sosten Gwengwe-M.P.
The Committee has defined terms of reference and authority granted to it by the Board. In line with its terms of reference, the Committee is responsible for monitoring the integrity of the financial statements of the Trust and any formal announcements relating to financial performance and position of the Trust. It regularly reviews the effectiveness of the Trust’s internal controls over management information and it monitors the independence and effectiveness of the Trust’s internal and external auditors and receives and considers their reports.
The Executive Secretary, the Finance and Administration Executive and the Finance Manager attend the Committee Meetings. The Trust’s internal and external auditors have unrestricted access to the Committee.
Finance and Audit Committee Terms of Reference
HUMAN RESOURCES COMMITTEE
Members: Mr. Stephen Matenje-SC Chairman, Eng. Wilson Chirwa, Ms Linda Phiri.
As with all the standing Committees of the Board, the Human Resources Committee has defined terms of reference and authority granted to it by the Board. The committee is responsible for formulating and implementing the appointments and remuneration policy of the Trust. The Committee makes recommendations to the Board in relation to the appointment of Trustees, the structure of the Board and membership of the Board’s main standing committees. It is responsible for making recommendations to the Board in relation to the appointment, remuneration and development of executive management of the Trust. In addition, the Committee is responsible for making recommendations to the Board regarding the appointment of Directors to the boards of the Trust’s subsidiaries and associate companies.
Human Resources Committee Terms of Reference
OPERATIONS, RISK AND INVESTMENT COMMITTEE
Members : Mr. Symon Msefula-Chairman, Eng. Wilson Chirwa, Prof. Moses Maliro, Hon. Sosten Gwengwe-M.P.
In line with its terms of reference, the Operations, Risk and Investments Committee is responsible for formulating and implementing the Trust’s investments and social development policy. The Committee considers and makes recommendations to the Board on all applications for social project funding and all proposed commercial investments. It continuously considers issues of risk management when reviewing investments and projects progress reports.
The Executive Secretary, the Operations Executive and the Operations Manager attend the Committee Meetings.
Operations, Risk and Investment Committee Terms of Reference
