Corporate Governance

 

BHC is governed by a Board whose members are appointed by the Minister of Transport and Public Works by powers bestowed on him by Parliament through Botswana Housing Corporation (BHC) Act (Cap 74:02). BHC subscribes to good corporate governance and therefore, is fully committed to ethical and effective leadership principles as espoused in King IV. In pursuit of good corporate governance, the Corporation has over and above the BHC Act, adopted the Corporate Governance Framework, the Board Charter, Committees Terms of Reference which among other things, set parameters on the use of privileged information, declaration of conflict of interest and stipulate the roles and responsibility of the Board. Furthermore, it seeks to ensure that sound corporate governance principles are applied in all dealings by Board Members in respect of and on behalf of BHC.

 

 

 

The responsibility for the implementation and monitoring of corporate governance within BHC rests with the Board. The Board is led by the Chairperson and must comprise of at least seven and not more than ten members. The roles of the Chairperson and the Chief Executive Officer are separate, and the composition of the Board ensures a balance of authority precluding any one Board Member from exercising unfettered powers of decision making.

 

 

 The Board is assisted in fulfilling its responsibilities by the following sub-committees:

 

(a) Finance, Risk and Audit Committee (FRAC): This Committee assists the Board to fulfil its oversight responsibilities relating to the integrity of the Corporation’s financial statements. It is also responsible for oversight on IT, Legal, Risk and Compliance maters.

 

(b) Human Resources Committee (HRC): This Committee provides guidance and oversight on the management and optimum utilization of human capital in order to ensure stability and business continuity. It is also responsible for recommending human resources strategies and policies to the Board.

 

(c) Board Projects Committee (BPC): This Committee is responsible for assisting the Board to fulfil its oversight responsibilities in relation to the management and execution of projects. The Committee ensures that projects are delivered on time and on budget.