Uganda Development Bank Limited recognizes the importance of adopting best practice in corporate governance, particularly in light of the fact that the legal and regulatory environment governing the financial sector in Uganda is rapidly evolving against the backdrop of the ever-changing trends in the global financial environment.
Strategic Plan 2018 - 2022
Unveiling the UDBL Strategic Plan 2018 - 2022
As such, UDBL recognizes the need to ensure that its processes, practices and systems conform with and adhere to applicable corporate governance standards and best practice.
Board of Directors:
The Board is appointed by the bank’s shareholders who are the Minister of Finance, Planning and Economic Development and the Minister of State for Privatization in the Ministry of Finance, Planning and Economic Development. The Board is accountable to the Minister, for ensuring compliance with the Public Enterprise Reform and Divestiture Act (Cap 98). Day to day operations of the Bank are performed by the Management team led by the Managing Director. The Board meets on a quarterly basis and adhoc meetings are held when required. The Board fulfills key functions including reviewing, guiding and approving Bank strategy and has most recently approved for implementation a revamped Strategic Plan (2018-2022).
The Board of Directors have vast experience in financial consulting, strategic planning, auditing, project management, administrative and people management, legal and company secretarial affairs and management both in the public and private sectors and in development finance.
The Bank Secretary who is appointed by the Board is responsible for the proper administration of the Board proceedings, the provision of administrative and secretarial services as well as legal advice to the Board.
The Bank ensures that the Board receives continuous professional development on issues pertinent to the effective execution of their strategic oversight and governance role and in development finance.
Board Audit & Risk Committee:
The critical role of internal audit makes it imperative to have an independent Audit Committee. In terms of its functions, the Audit Committee plays a critical role in the corporate governance structure by overseeing internal controls, accountability, reporting structures. The Audit Committee in addition is responsible for overseeing the Risk Management in the Bank.
Board Credit Committee:
The Credit Committee provides oversight of senior management activities in credit appraisal, credit risk management and credit governance and approves credit exposures that are over and above Management levels.
Board Strategy and Planning Committee:
The role of this committee is to provide oversight on strategy, human resource, administrative and other general matters of the bank.
HOW WE CAN HELP
The facility may also be used to acquire assets which have the ability to generate sufficient cash flows to service the loan over a tenure not exceeding 18 months from the initial disbursement.
Promotion of investments in industries and sectors that is strategic to the growth and development of the economy. The Bank will evaluate the likely impact of the investments on the utilization …