At LAFANA, we believe that strong corporate governance is fundamental for building a culture that ensures sound business ethics at every stage. This is achieved with a firm commitment to principles and policies that steer our business decisions. We actively observe and maintain corporate governance framework at every stage across all our operations.
The Company’s business is managed under the supervision and direction of the Board of Directors. The Board provides strategic guidance, management supervision and adequate controls with the ultimate objective of promoting success and long-term value.
Our Board and Management team upholds ethical conduct and operational transparency that builds trust and strengthens business relationships. The Board provides leadership and oversight for LAFANA within a framework of prudent and effective controls.
The corporate governance framework defines the roles and responsibilities for the Company Board and the Board Committees. Our corporate governance framework is designed to protect shareholders’ rights and interests by providing adequate level of oversight and developing mechanisms to monitor and track business performance. It also maintains agility with the creation of an adequate platform for the executive management to efficiently operate on a day-to day basis.
The Board of Directors is at the core of our corporate governance framework and serves to protect business interests. It sets the course of action and defines the financial objectives for LAFANA. The Board ensures that the business is conducted in adherence with high standards by steering values and inspecting the code of conduct.
To facilitate and confirm the execution of its duties and decisions, the Board has established Committees that manage key responsibilities. The Board supervises the performance and activities of the following Committees –
We reinforce our corporate governance with executive management consisting of the Managing Director and Chief Executive Officer. The Management team translates our vision and strategy into organisational directives, objectives and plans. It manages daily operations to confirm their implementation in accordance with our corporate governance policies.
The Executive Management ensures that the recommendations and guidelines issued by the Board of Directors are followed meticulously. The Management monitors their implementation to achieve strategic objectives while promoting sound financial, operational, and governance practices.