In compliance with Mwongozo, the Code of Governance for State Corporations, and more specifically clause 1.11 provides for the governance parameter of the Board Charter. The Board of Directors’ of National Oil Corporation of Kenya Limited have developed and adopted a Board Charter that clearly defines the roles, responsibilities and functions of the Board in the governance of the Corporation.
The Board also developed and adopted Committee Board Charters for the various Committees of the Board, which assist the Board and its Committees in the exercise of their responsibilities more specifically to provide a clear statement of their roles, responsibilities, processes and operations of the Board, for the benefit of both the Board and Management.
The Charters also aim at ensuring that the practices of the Board are consistent with and reflect the Board’s commitment to best practice in Corporate Governance.
Strategy and Business Board Charter – 2022