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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 76
Each department has a succession plan; this safeguards the future
of the Bank and identifies imminent skills gaps.
There is constant dialogue and review of business plans to ensure
business continuity at all levels, but particularly for key positions.
Where possible, in-house talent is trained and groomed so they are
ready to take new responsibilities when the time comes. The earlier
the development needs are identified, the better, as this gives the
employee the opportunity to test their skills under the guidance of a
mentor. Some basic actions include:
the identification of key people for more senior management
posts in the future; 3 senior managers attended the ESSEC
Executive Development Programme
10 employees following the Chartered Institute of Bankers
Scotland (CIOBS) certification
all members of the Bank’s Treasury team are ACI certified
continuous review of the Bank’s high level training plan to narrow
performance gaps; identifying programmes that employees need
to attend
established learning objectives for each training programme and
a feedback mechanism/evaluation to measure effectiveness
arranging job shadowing and a proactive approach to internal
movement; this ensures gathering some experience and training
before moving into new roles
building a good reputation in the market as an employer that
provides a challenging and stimulating place to work; this assists
in hiring talented people
The Bank’s induction programme includes culture, values, customer
service and technical training.
MATERIAL CLAUSES OF CONSTITUTION
Article 21.2 of the Bank’s Constitution provides for a list of matters
which are subject to special resolutions of the voting shareholders
of the Bank and the prior approval of Société de Promotion et de la
Participation pour la Coopération Economique S.A.
SHAREHOLDERS’ AGREEMENT
The provisions of the current shareholders’ agreement have for the
most part been replicated in the Bank’s Constitution.
The current shareholders’ agreement is between Société de
Promotion et de la Participation pour la Coopération Economique
S.A., GML Investissement Ltée, Intrasia Capital Pte Ltd, National
Bank of Canada and the Bank.
SIGNIFICANT CONTRACTS
There is currently no significant contract between third parties with
the Bank and its subsidiaries.
MANAGEMENT AGREEMENTS
There is currently no management agreement between third parties
with the Bank and its subsidiaries.
GIFTS AND DONATIONS
The Group and the Bank made MUR 1,039,662 of gifts and donations
during the year ended 30 June 2015 (2014: MUR 671,391/2013:
MUR 271,746).
POLITICAL DONATIONS
The Group and the Bank made political donations of MUR 2,500,000
during the year ended 30 June 2015 (2014: Nil/2013: Nil).
CORPORATE GOVERNANCE REPORT (CONTINUED)
120
1400
hrs
More than
employees participated in local
& overseas training course; over
of training during the year.