The Risk Committee assists the Board in relation to assessing, controlling and mitigating business risks. The Committee identifies risks facing the Bank and recommends controls to the Board.
The Risk Committee comprises three non-executive Directors, one of whom is chairman of the committee.
The Credit Committee comprises three local Directors with a good knowledge of the Botswana economy and business environment. Its overall responsibility is to ensure the soundness of the Bank’s credit portfolio (including advances, guarantees and other facilities). Specific responsibilities include:
The Audit Committee assists the Board in discharging its duties in relation to financial reporting, asset management, risk management, internal control systems, processes and procedures and monitors the quality of both the external and internal audit functions. The Bank’s external auditors and internal auditors report to the committee in their independent, private meetings, to discuss the status of the Bank’s internal controls and exposures to risks. Where the Committee’s monitoring and review activities reveal causes for concern or scope for improvement, it makes recommendations to the Board on required remedial actions.
The Audit Committee comprises three non-executive Directors, one of whom acts as Chairman. The Committee meets at least twice a year.