Board Charter

Our Board Charter makes it clear that our Board is accountable for creating and delivering sustainable  value through the management of the Group’s businesses, including our social, economic and environmental performance.

Our Board Charter is an important part of the framework that defines our corporate governance practice, guiding directors and stakeholders as to how we approach this critical issue within the Group and all our subsidiaries and associated entities. Our charter regulates how our Board and the individual members discharge their responsibilities and ensures that all members understand their duties and responsibilities as well as the laws, regulations and best practices governing their conduct.

 

It is divided into four parts:

  • The summary of our corporate governance practices - provides directors with guidance for promoting the very highest standards of corporate governance in the Barclays Africa Group in line with the King Code of Governance in South Africa, 2009 (King III); the Companies Act 2008; the Banks Act, 1990 as amended; the JSE Listings Requirements; as well as other good-governance practices.

  • Matters reserved for the Board - identifies issues that need to be finally decided on by the Board.

  • Role profiles - defines and clearly separates the roles of the Group Chairman and the Group Chief Executive, as well as the Board’s expectations of the chairmen of the Board committees.

  • Terms of reference of Board committees - outlines the approved mandates of each of the Board Committees.

The Charter is updated annually, including changes to roles and responsibilities, as well as any changes to committees’ terms of reference, and it also outlines:

  • Board composition
  • Standards for conduct around conflicts of interest
  • The process of determining Board remuneration and rewards
  • Director orientation, induction and training
  • Succession planning, director selection and appointments
  • The role of the Board, including adopting strategic plans and monitoring operational performance and management
  • Board procedures
  • Access to management by non-executive directors
  • Specific matters reserved for our Board

Click here to read more about our Governance structure

 

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