THE BOARD OF DIRECTORS

Decision-making body composed of up to 10 members in 3 committees. With most of the board members issued from the private sector, the directors’ role is to approve the Fund’s annual accounts as well as the investment / exit decisions.They are also responsible for closely monitoring any operation or activity in Fund that is likely to have a significant impact.

THE STRATEGIC ORIENTATION COMMITTEE

Composed of eminent local and international members of the business and politics worlds as well as the civil society, the committee advises FONSIS in its investment strategy.  It meets once a year and is chaired either by the President of Senegal or the Prime Minister.

THE INVESTMENT AND RISK COMMITTEE 

Chaired by a board member, it consists of the CEO, the Sector Executive Directors, the Executive Director in charge of Financing and Investor Relations, the Officer in charge of Legal and Regulatory Affairs as well as independent experts. The committee approves investment / exits decisions.

THE AUDIT COMMITTEE

Chaired by a seasoned board member with the relevant track-record, the committee ensures compliance with standards and procedures, and assesses the risk management and internal control policies.

THE APPOINTMENT AND REMUNERATION COMMITTEE

Chaired by an independent board member, the committee validates the appointment of the Fund’s executives as well as the appointment of the board member representing FONSIS in target companies, and sets forth the remuneration policies.

 

English