SIDO BOARD OF DIRECTORS AND MANAGEMENT TRAINED ON GOOD GOVERNANCE AND RISK MANAGEMENT
The Chairman, members of Board of Directors and the Management of SIDO attended to a two days training programme on Good Governance and Risk Management. The training was facilitated by two trainers one a specialist in good governance and leadership Professor Hasyo Mukulu from University of Cape Town in South Africa and for the Risk Management it was facilitated by a Board Member of Mkombozi Bank Community who is also board committee member of UDSM and NBAA Mr Emmanuel Johanes .
The training on Good Governance covered on the essentials and principles of best practice in corporate governance function of the Board of Directors, Roles and responsibilities of Directors. It also emphasized on the identification and the declination of duties and responsibilities of Directors for effective governance, Board organics, and soft skills in the Board Room including board members and SIDO Management team relationships. He also highlighted on processes, leadership and ethics of good governance, and lastly he presented a draft SIDO Board charter to participants.
On Risk Management, Mr Emmanuel Johanes presented to the participants about the positive and negative results of risk decision. The presentation aimed at giving insights of risk Management so that the Board and Management will have common understanding on the new developed Risk Management Policy and framework document. He mentioned that the negative results of risk decisions are loss of revenue, loss of Money, Health Damage, Injury, death and liabilities, while the positive are increase of revenue and profit acquisition of new assets, quality life, return on investment and employment opportunities.
On closing both trainers insisted on the Board of Directors giving enough time in reading board documents before making decisions.