Audit and Risk Committee
Members: One Executive Member, Two Non Executive Members and One Independent
The Committee meets at least four times per annum whose main responsibilities are to assist the Board in discharging its responsibilities. of monitoring the operating environment with regards to financial controls, internal controls, accounting systems and reporting standards, compliance with legal and statutory requirements, evaluation and the mitigation of risk areas and the effectiveness of external and group internal auditors. Additionally, The Committee also evaluates AfHold’s response to emerging risks, competition and its sustainability in the industry.
Furthermore, The Audit and Risk Committee recommends the appointment of Auditors, undertakes in-depth review and recommendation of the Financial Statements to the Board for approval. The Committee also reviews the External Audit scope and associated fees and makes recommendations to the Board for approval.
Investment Committee
Members: One Executive Member, Two Non Executive Members and One Independent
The Committee meets at least four times per annum. The main responsibilities of the Committee are to assist the Board in discharging its responsibilities in terms of the evaluation of investments for both the AfHold Group and the Client Funds. The Committee assess the investment risks, mitigation options and ensures that proper governance processes are adhered to in making investment decisions.
Human Resources Committee
Members: One Executive Member, One Non Executive Members and One Independent
The Committee meets at least 4 times per annum and is responsible for monitoring and advising on Group’s human capital management, approving the Executive Committee (Exco) appointments including recommendation to The Board for the Chief Executive Officer appointment. Additionally, The Committee also reviews and recommends to the board the remuneration strategy and reviews, succession plans and staff incentive scheme guidelines.
Executive Committee
The Executive Committee “Exco” is set-up as a management supervisory body by the Board of Directors (“The Board (s)”) of any/all the AfLife Holdings Zambia Limited Group Companies (the “Group”) with the delegated authority to act on their behalf to ensure that the decisions of the Boards on strategic matters, business plans, daily business and operational issues are carried out, implemented and/or monitored efficiently by management and that the requirements of good corporate governance practices are observed.
The primary role of the Exco is to oversee the implementation and monitoring of the Boards’ decisions, to make decisions in carrying out its roles and to provide strategic guidance for the group as delegated by the Boards.