Page 26 - Ecobank Gambia Annual Report 2020

Financial Statements & Annual Report

Corporate Governance

Commitment to Corporate Governance budget, key operational initiatives, major funding and
Corporate Governance is important to Ecobank as it investment proposals, financial performance reviews,
seeks to implement the ideals of fairness, transparency, and corporate governance practices.
accountability and responsibility in its dealings with all In addition, the principal duties of the Board include:
stakeholders. Ecobank recognizes, as a banking group, ¦ SSetting the Bank’s strategic objectives and ensuring
the critical nature of its relationship with Regulators
across the Group, in executing its vision and safeguarding that the necessary financial and human resources
the deposits of the general public and other lenders. To are in place for the Bank to meet its objectives.
this end Ecobank ensures that their interest are taken ¦ Overseeing the process for evaluating the adequacy
into account in a balanced and transparent manner. of internal control, risk management, financial
Ecobank believes that only good governance can deliver reporting and compliance.
sustainable good business performance. ¦ Approving the remuneration polices and guidelines
Ecobank Gambia derived its Corporate Governance from for the Board and senior management.
the Group Corporate Governance Charter which sets ¦ Reviewing the performance of senior management
out the structures and processes that are followed by and overseeing succession planning for senior
Group and all its Affiliates to build credibility, ensure management.
transparency and accountability across the Group. The ¦ Ensuring both the Bank and staff uphold the Group’s
principles and practices therein are based on Basel values and standards (including ethical standards)
Committee standards on corporate governance, which and ensuring that obligations to shareholders and
constitutes the best of international practice. other stakeholders are understood and met.
4.1 Board Matters ¦ Considering sustainability issues, e.g., environmental
The Board’s conduct of its affairs and social factors, as part of the strategic formulation.
TThe Board’s conduct of its affairs Independent judgement
The primary function of the Board of Directors (the All directors exercise due diligence and independent
Board) is to provide effective leadership and direction judgement, and make decisions objectively in the best
to enhance the long -term value of the Bank to its interest of the Bank. The current members of the Board
shareholders and other stakeholders. The Board oversees and their membership on the board committees of the
the business affairs of the Bank. The Board has the Company are as follows:
overall responsibility for reviewing the strategic plans
and performance objectives, financial plans and annual

Name of director Board appointments Board committees as Chairperson /
Chairperson or member
Mr Bernard Mendy
(Chairperson) Executive Non- Independent Non Governance Audit & Risk
Mr Carl Selasi director executive director independent Committee Compliance Management
Asem (CEO) v director Committee Committee
Mr Muhammad v v director
Jagana Chairperson Member Member
Mr Henry Ampong v
Ms Joana Mensah -- -
Mr Rotimi v
Oyekanmi vv v Member Member Chairperson

v Member Member Member
v Member Member Member
vv Member Chairperson Member

24 Ecobank Gambia Annual Report 2020 www.ecobank.com