Nekundi warns SOE boards
30 Oct 2018 17:30pm
WINDHOEK, 30 OCT (NAMPA) - Board members of state-owned enterprises who fail to perform their duties will be removed and will not be considered for future appointment, Deputy Minister of Public Enterprises, Veikko Nekundi said on Tuesday.
Nekundi made these remarks on Tuesday at the closing ceremony of the two-day induction programme for the boards of directors of various public enterprises in Namibia.
He explained that the purpose of the induction was to enlighten board members on the shareholders expectations, which includes compliance.
Nekundi stressed that performance is key and that training is the cornerstone to ensuring that boards are capacitated and empowered to run the affairs of public enterprises effectively on behalf of the shareholder and in the best interest of the state.
Starting in 2019 there will be individual board evaluation, which will include a 360 degree evaluation. The guidelines have been drafted and will be submitted to Cabinet for approval, Nekundi added.
He stated that it is important for board members to attend both induction and board training exercises, to capacitate themselves to carry out their duties efficiently.