Code of Good Corporate Governance for State-Owned Enterprises in The Gambia 2016-2020

OBJECTIVE

To define the responsibilities and accountabilities of the Board of Directors and Officers of State-Owned Enterprises (SOEs). The Code is a primary source of guidance on all aspects of governance including statutory guidance under which the SOEs operate if not conflicted with Acts of Parliament. The focus is on commercial SOEs at the national level in which government has significant control through full, majority, or substantial minority ownership.

CONTENT

 The Code Covers the following Key Areas:

• Role of the board
• Board responsibilities
• Division of responsibilities
• The chairperson’s responsibilities
• The MD/board secretary
• Non-executive directors
• Directors
• Tenure
• Board Structure/composition and balance
• Appointments to the board
• Director’s remuneration
• Evaluation of board and members
• Quality of Management
• Ethics
• Disclosure and Transparency
• Role of Board Audit and Risk Management Committee and Auditors
• Role of Finance Committee
• Role of Nomination Committee
• Shareholders
• Effective Date