The Board recognizes that maintaining good corporate governance practices is an ongoing and continuous process. The Board adopted corporate governance guidelines which reflect its commitment to monitoring the effectiveness of policy and decision-making at board and management level ensuring strict adherence to corporate governance principles, with the goal of enhancing shareholder value.
The Group emulates corporate governance principles prescribed in the Combined Code of the United Kingdom, the King reports of South Africa and the Reserve Bank of Zimbabwe Corporate Governance Guideline.
Board appointments are made to ensure a variety of skills and expertise on the Board. Non-executive directors are of such calibre as to provide independence to the Board. The Chairman of the Board is an independent non-executive director.
The Board is supported by mandatory committees in executing its responsibilities. The Board meets at least quarterly to assess risk, review performance and provide guidance to management on both operational and policy issues.
NMB Bank was judged the Best Bank in Banking Governance Practices and second in Best Shareholder Treatment for Zimbabwe Stock Exchange listed companies at the ICSAZ Excellence in Corporate Governance Awards 2015. In 2014, the Bank came third in Best Governance practice and second in overall Best Governed Banking Institution at the ICSAZ Excellence in Corporate Governance Awards.
