Iodt magazine by BAKARI R. KACHEUKA ( +255 676510464 )

THIRD QUARTER, 2015

Whether woman or man, there is no substitute for hard work!

CEO’s Message

Corporate Governance And CSR - Yesterday And Today

Ø How does a board set up Chief Executive performance management in a private company? Ø

Importance of ICT Governance

Ø Tips to Develop Stress Resilience Ø Sir Adrian Cadbury Obituary

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Contents

CEO’s Message and readers; our Board of Directors; our Corporate Patrons for the continued support and contributions to our mission of promoting best practices in corporate governance in Tanzania. Special appreciations to our advertisers who are growing by the legion, seeing value in our Newsletter, which like our Institute is growing from strength to strength!

10 Dear Certified Member & Dear Reader,

23 12 Cover Story Diana Monica Kisaka

• CEO’s Message

CARL BATES IS A GLOBAL ENTREPRENEUR, AUTHOR, SPEAKER, MENTOR AND DIRECTOR.

• Corporate Governance And CSR - Yesterday And Today

• Build It

• The Institute of Chartered Secretaries and Administrators (ICSA)

• Tanzania Society of Women Certified Accountants (TAWCA)

• Book Review

• Importance of ICT Governance

Editorial team Managing Editor Said Baraka Kambi Sub-Editors:

Pius Maneno

John Wilson Abduel Kelakela Layout & Design: Maya Graphics Marketing and Advertising:

John Wilson

Abduel Kelakela

• Movements & Newsflash

• Executive Health

Contact: Institute of Directors in Tanzania (IoDT) Room S05 Mhasibu House Bibi Titi Mohamed Street PO Box 1320 Dar es Salaam Phone: +255 (22) 215 3 4 12 +255 (75) 973 3 7 90 +255(76) 8 26 3 2 26 +255 (76) 741 3 9 21 Fax: +255 (22) 2151 7 46 Email: info@iodt.co.tz, jwilson@iodt.co.tz abduel.kela@iodt.co.tz Website: www.iodt.co.tz

I am pleased once again to welcome you to yet another exciting edition of the Corporate GovernNews – a quarterly publication of the IoDT members. You will agree with me that quite a lot has happened, since our last edition. What with that whirlwind of a rollercoaster of a time that came with the elections marking the end of a sitting president and a toss-up of Ikulu to new and fresh protagonists – whew, what a ride it was… and, of course, so many leadership lessons and a lot of governance must have swam around our heads if we paid close attention to setting the tone at the top, ethics, strategy, mabadiliko, positioning, riskmanagement, short-termism, just to name, over the last few months. The elections have come and gone with what we think and hope is a landmark “change” in government. On behalf of the IoDT, we congratulate our brand new President of the United Republic of Tanzania Dr. John Pombe Joseph Magufuli and wish him and his soon to be named cabinet well in their administration. Here is to the next five years – cheers! As always, we are thankful to you, our esteemed members

Our headline interview in this edition, which is chockful with information which you will find educative, interesting and entertaining, is with one of our prominent certified lady directors: Ms. Diana Monica Kisaka of T-MARC. Women were barely a quarter of all participants to our certification courses in 2015. While not an isolated case on a country-by-country basis and with some of the contributing reasons very obvious, we at the IoDT are keen to buck that trend. You will find Director Kisaka’s insights interesting. Along the same grain, we also report the launch of the Tanzania Women Certified Accountants (TAWCA), which is committed to elevate the Tanzanian girl to higher professional calling via the accountancy profession. And, accountancy and governance are close bedmates! Already, the IoDT and TAWCA will be collaborating for the “Women on Boards” Director Certification course during the last week of November, 2015. During the same period, we also marked another launch of very interesting close professional associate of the governance profession - that of the Tanzania chapter of the Institute of Chartered Secretaries and Administrators (ICSA). We look forward to a very exciting professional relationship with the ICSA – one quite significant programme is in the calendar for year 2015 while we continue

to transform the corporate governance landscape in our country for “better boards, better business and better Tanzania”. In this edition there are also some exciting but serious articles which will deepen your understanding of corporate governance from various angles from our contributors: Assa Mwaipopo on page …; William Mtendamema …, and Stella-Emma Katende on page ….. Also featured, is our Up-close & Personal encounters with directors: Sam Kamanga, Assa Mwaipopo and Edward Lyimo plus one of our well-appreciated facilitator, Dr. Kassim Hussein who features in our new line of articles: “In the lecture room”. This edition contains your regular interesting but light features on health, member testimonials, member movements, book reviews and executive jokes. Also find within a lot more interesting information and photos. Details on these and a lot more are featured herein. We hope that you find this edition useful, greatly informative and insightful to keep yourself abreast of current development and trends in corporate governance in Tanzania and abroad. Please do keep those contributions and comments coming – we always appreciate them so much and work on them, too for a better Newsletter. Contact info@iodt. co.tz................... Can’t keep you off-perusing your favorite newsletter, any longer…. Happy reading!!!

CORPORATE GOVERNANCE AND

CSR - YESTERDAY AND TODAY Directing and controlling business of the company has evolved from what it used to be in company businesses of the days gone. Previously, businesses focused primarily in their profitability hence concentration on financial profit as a key measure of performance and success of the company.

T Asa Mwaipopo (MIoDT 185) the trained Mining Engineer, with a degree in Mineral Sciences from the University of Zambia - 1991 and a Master degree in Mining Engineering from Camborne School of Mines in the UK - 1996. Mr Mwaipopo is now the General Manager of Acacia. His imprints of experience include that in mining Engineer, Mines Inspector, senior production engineer and mining production manager, marked from his stint with both private and Government sectors. He is a Certified Member of IoDT and holds deep and long – term interests in Governance

oday, the environment has changed and so too have the communities in which companies operate. Communities are now demanding participation in decision making and sharing of benefits of growing scarce resources. There has been a boom of Civil Society Organisations (CSO) supporting communities in the demands for more transparency of companies and accountability for their actions and activities. Vivid examples are the actions and pressure evident after the oil spill by BP in Guld of Mexico in 2010. Freshest in our memory is the Volkswagen emission

compliance scandal which even now is sending ripples in the automobile industry. History is replete with similar events in the extractive industry across the world necessitating companies today to respond and operate at a different corporate governance level.

Today versus Yesterday

conduct themselves in increasingly inclusive fashion.

ears ago, many companies focused in the short term utilization of resources and space. The thinking then was of abundant resources and infinite capacity of planet earth’s space to absorb waste (Mervyn King SC). Regulations in environment management did not exist and businesses operate with least care on pollution controls, emission and rehabilitation. These companies believed that the communities benefitted from employment (a necessity to the companies, anyway) and tax payment (a legislative requirement, which again the company is not exempt from, anyway). Companies in the contemporary times are not only required to run businesses while considering scarce resources but also operate in sustainable manner to the environment. Continuing demands for cleaner energy, controlled emissions and sharing of benefits all put pressure on businesses and regulators to ensure that companies

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Companies have had to check how they conduct business and also adopt different “friendly” ways. Some listed companies’ boards maintain a committee to oversee the sustainability aspect including environmental matters and community relations. Sustainability has grown further as a concept to focus on how excellence in the ‘inner’ operating context of a company (including occupational health & safety and security) positively impacts on the ‘outward’ context (stakeholders and communities). The Seven Buttons for Successful Corporate Social Responsibility Programs Host communities subject extractive industry players (mining, quarrying, oil & gas) to more demands for sustainable development and partnerships. There has been some positive response to these changing

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demands with approaches that are seemingly similar but varied on the degrees of scope to social economic engagement via Corporate Social Responsibility (CSR) Programs. John Browne (Browne of Madingley), the CEO of BP from 1995 to 2007, says in his recent book Connect that “the business exists to serve society and for too long it has failed to do so”. Connect is about the need to connect with society and Browne states that “in an era of relent transparency, where the world is demanding more from private sector, the consequence of repeating the mistakes of the past are greater than ever.” However, and I cannot agree more to his opinion, he identifies a potentially enormous prize for companies choosing to meet these expectations with respect, authenticity and openness while embedding society’s needs into the very heart of their business model. I am concerned with those company boards which approve CSRs programs expenditure in utter disregard of the interests of target communities. You then have projects ending up as white elephants, as a result. The way I see it, boards should undertake constant reviews of CSR policies’ approach and programs, to maintain relevance for companies and target communities. “As the lingua changes does the intent change?’ Companies have gone through transitions of community support and engagement programs’ nomenclature. I remember Community Engagement and Sustainable development (CESD) as a major buzz word then. We also witnessed the birth, after the silent death, of CESD plans. Later, came along “social management plans” covered under departments known as social management. Afterwards, we had CSR, External Affairs, Corporate Affairs and in recent days the renaissance of the Shared Value. To quote Shakespeare “a rose by any other name smells as sweet” but whether sweetness or lack of it those names are meaningless and “intent” is everything. Many corporate entities have faltered at the altar of ‘development organization’ image. Corporate entities most important objective should always be “creating shareholder and stakeholder value” (including employees and communities). Only after that consideration, should they model the rest around creating such value and adopt consistent and relevant self-examination.

On that note, the following “seven buttons” are what I regard as the underlying principles for effective CSR programs: 1. Understanding: More often companies’ intend to deliver immediate results in everything they do to the extent of circumventing the learning process of the communities. Often, the multi-cultural internal environment that runs a company is seldom mindful of the cultural dynamics (or even monotone) that exists in a community. Communities in which companies do business may be similar but they retain fundamental differences. A CSR program that would be a good fit for one community may not be acceptable in the same way to another community with differences ranging from varying priorities to complete rejection. Companies’ effective CSR programs s h o u l d therefore consider time and efforts in understanding t a r g e t communities so as to truly connect. Lessons, if any, should also be documented for peers and future operators 2.

Business synergies

Communities are naturally different and so are businesses! Companies have to adopt and engage key CSR programs with relevance to the realities of the business and environment. For instance, companies whose production lines are heavily water dependent could focus and prioritize water conservation and supply initiatives as key to CSR program. A good example is considering community water needs, at the origin of the business or during the expansion of the planned company water line. Doing this during planning stage could render the project relatively inexpensive as part of the overall plan. Similarly, a company employing more technicians could focus on technological support and skills development programs to which they would themselves benefit as well. Companies could engage into other programs, but mostly seek to prioritize or focus on tapping some synergies for own advantage.

6. Dependence

3. Resilience When developing projects, some of companies do not consider the long term nature or needs of the projects beyond the life of that company / business at that locality. Such projects become potential ‘white elephants’ and are wasteful practices. Sustainable CSR programs beyond the life of a specific project should be proactively considered during the business tenure, which calls for a resilience test as a part of the CSR program design.

While it is a positive for a company to be recognized as a true community partner and be so relied, a balance is necessary so as to avoid a complete dependence upon a company. Such dependence could be a source of negative legacy once the company winds up its business. Furthermore, it is grounds for unnecessary social conflicts if and when the company adjusts its operations due to changes in business environment.

4. Partnership

7. Transparency

CSR programs should complement government plans rather than be their substitute. Businesses should therefore liaise with relevant local or central government structures to understand their long term plans and resources so as to properly align the projects with relevant government plans. Education, health and infrastructure could be important and appealing aspects of CSR programs, but lack of a proper line of fit to government plans and priorities may bring up two-way frustrations plus mutual communication failure.

Transparency and accountability represent key aspect of corporate governance in the changed business times.

Also, planning for CSR programs should consider donors and development organizations to ensure that the impact is maximized and common outcomes are achieved. This would help to position the company as an ‘enabler or catalyst’ for development rather than a ‘doer’. 5.

Annual company financials are an important sustainability reporting tool. The financials and other structured communications can focus on demonstrating good business practice and performance on sustainability. The Global Reporting Initiative (GRI) provides for a generally acceptable framework as per of the Sustainability Reporting Guidelines, the Indicator Protocols, Technical Protocols, and sector supplements. The reporting reflects on an organization’s economic, environmental, and social performance. It is the practice of measuring, disclosing, and being accountable to internal and external stakeholders for organizational performance towards the goal of sustainable development.

Capacity building

If companies are to win the social license to operate in communities and maintain an effective social connection then they need to create a mutually beneficial environment to the society. Businesses which develop and support downstream business linkages contain opportunities into which communities could tap on through cooperatives, small companies and disadvantaged groups (women, youth, disabled e.tc.,) Once done right, respective community’s money circulation is boosted, crime would be minimized thereby making the company’s presence be truly felt as a true community partner.

If adopted in sustainability policies and practices, these seven buttons of CSR programs could save a great deal of company’s costs of doing business, in an effective manner under the changing world of corporate governance. A company so guided stands a very good chance of obtaining its social license to operate in any environment and community. The World of the United Nations Efforts in sustainability by various companies could be more inclusive if aligned in some ways to the World’s efforts i.e., the United Nation’s eight Millennium Development Goals (MDGs) and now the newly adopted Sustainable Development Goals (SDGs). The MDGs, launched in the year 2000, created a strong platform to deliver common global outcomes in social development. In Tanzania, the goals were mainstreamed into various national level plans with a key focus around poverty eradication. After a 15 year era, marked success has been seen particularly in the areas of increased access to water and maternal and child mortality reduction. Many companies did try to align their efforts in supporting these goals through construction of schools, health facilities and water supply systems. However, it could equally be argued that private sector coordination was not at its optimum. Adopted in September 2015, the SDGs aim to build upon the success of the MDGs and further drive poverty reduction across the world. With an increase from 8 to 17 goals,

The SDGs also aim to provide parameters for which businesses can align their efforts and measure their contribution towards eliminations of extreme poverty and in making the world a better place for those in their localities. While it may be early days, it will be interesting to see how companies review the CSR programs to align to the new goals and more importantly how government and communities align their vision and plans to attain the goals. Conclusion Companies which follow the guidelines discussed in this paper, consciously or otherwise and especially in reporting on sustainability performance, give a reassurance to their stakeholders that they are mindful of the changed world order. It is never too late for public companies to adopt some guidelines and reporting on their sustainability performance. If the UN efforts in sustainability are supported by businesses, big and small; it would lead into making the world a better place for all hence providing good ground for businesses to grower but even better – for communities to prosper! It is therefore important that companies align their sustainability efforts in some ways to the comprehensive UN proposals. Reference

The SDGs at a glance:

1. 2013, Mervyn King SC, THE CORPORATE GOVERNANCE SEMINAR, DAR. 2. 2015, John Browne and McKinsey & Company, CONNECT 3. 2011, GRI 3.1, Sustainability Reporting Guidelines

(Source: https://agenda.weforum.org/2015/09/10-things-to-know-about-the-sustainable-development-goals/) Continues from Page 8

there is now a new drive to tackle injustice, inequality and climate change by the year 2030.

BUILD IT:

Carl Bates (bbs(Hons), GradDipBS, CA, CMInstD) Is the Founder and Chief Executive of Sirdar Global Group (www.sirdargroup.com), the leading implementor of governance for SMEs and privately –held companies in Africa. Carl is the global entrepreneur, speaker, author, mentor director and dynamic thought leader. He is considered to be an international expert on business growth and the education and A GLOBALimplementation ENTREPRENEUR, of governance for OR, MENTOR DIRECTOR. SMEsAND and privately -held companies. Carl is an experienced chairman and independent director with great insight into the operation of companies and how they can create long-term value for shareholders and other stakeholders, inspire their teams and deliver effectively for clients.

n the first instalment of this series, I shared with you the immense value of enterprise governance as a performance enhancement tool for SMEs and privately-held companies, and how it grows your bottom line. The board of an enterprise is responsible for ensuring that the appointed leader – the chief executive – is held accountable for his or her own performance and for the enterprise as a whole. If you are the chief executive and you founded the business or are a shareholder-manager of your company, this can be a confronting idea. How should a board define what performance means for the enterprise? What process should they follow? The fundamental overriding principle is that you should be performance managed just as any other employee should. A board is responsible for the

NEWS IN PHOTOS

HOW DOES A BOARD SET UP CHIEF EXECUTIVE PERFORMANCE MANAGEMENT IN A PRIVATE COMPANY?

performance management framework of the enterprise, and the chief executive’s performance is but one part. This framework should specifically address the following aspects: • A clearly defined position description for the role of chief executive: Even though you may have founded the enterprise or are a shareholdermanager, unless you spell out what you are responsible for in your role, you will not easily determine the areas you need to pay attention to. This is more likely in areas that you avoid or require development, such as financial analysis or team development. • An appropriately structured remuneration package, including a performance-based element: It is all too easy to justify your dividend (if you get one) as a form of performance reward. It is not. If a significant portion of your remuneration or bonus is linked to performance, there is no question that you will deliver a higher level of value to the enterprise. • Personal and organisational performance KPIs: In the next instalment I will explore this area in more depth. At a high level, the enterprise’s strategic objectives should drive and define your KPIs as a chief executive. This ties the company’s performance to yours. • A formalised performance review process: If there is no performance process in place, identify some key organisational performance metrics to start. Twice a year, the chairman of the board would then sit down with you and review your performance against those measures – the first engagement to review performance and set targets and the second as an interim review. • Informal and regular reviews with the chairman: At least once a month there should be some form of engagement between chairman and chief executive. This should be supported by a standard agenda

that provides focus and structure even if the meeting is less formal than a board meeting would typically be. • Coaching and support on areas of development: This is not ad hoc activities determined throughout the year, but a planned focus on your own development. This should be linked to specific areas, such as the strategic focus of the enterprise or industry, governance, management and strategy expertise. • A succession plan, even if it is a long-term plan: The biggest failing of business founders is to build a business that is all about them that cannot be sold or leveraged without them. This aspect of the framework, driven by the board, is critical to shift the risk of this dependency and ensure you, or your shareholders, can unlock true value. A board would by no means attempt to have all these pieces of the puzzle in place from the get-go. The implementation of governance, including chief executive performance management, is a step-by-step and structured process. It is all about the relative priorities for the enterprise in question. Directors on a board must apply their minds and determine what is critical at that point in time and identify what will deliver the greatest value to the enterprise and its stakeholders. For my own experience as an independent chairman, observation changes behaviour. The board’s role is to provide a fair approach to chief executive performance management that also creates accountability. Just observing performance in a structured way will already steer the company towards greater performance as a whole.

A class session: (From R to L) George Mandepo, Gloria C. Omari responding to the IoDT facilitator Dr. Kassim Hussein in the CiDir training held at Oceanic Bay Resort Bagamoyo September 2015.

A group photo of the IoDT CiDir training held at Oceanic Bay Resort Bagamoyo September 2015.

A group photo taken during the launch of Tanzania Association of Woman Certified Accountants (TAWCA) at the Kilimanjaro Hotel, Dar es Salaam on 6th October 2015.Seating at the middle is the guest of honor Mr Richard Mkumbo (Director of Planning of the Ministry of Finance) together with Mr Pius Maneno (the Executive Director of National Board of Accountants and Auditors and the chairman of the IoDT board).

A group photo taken during the launch of the ICSA Tanzania, (seated from left Furzana Karimjee, Alison Kibirige , Simon Osborne CEO –ICSA from London UK ,& Saidi Yakubu) held at the Kilimanjaro Hotel, Dar es Salaam.

During the meeting, the members of the ACGN reviewed their objectives, which include a major study carried out by EY on behalf of the network on the state of corporate governance in fifteen of the sixteen ACGN member countries. The network will also examine the issue of facilitation payments to better understand its impact on business in Africa.

A memorandum of understanding (MoU) aimed at promoting good corporate governance was signed on 28th July 2015 in Lagos, Nigeria by Jane Valls, CEO of the Mauritius Institute of Directors and chairperson of the African Corporate Governance Network (ACGN), and Oscar Onyema, the CEO of the Nigerian Stock Exchange and president of African Securities Exchanges Association (ASEA), which brings together 24 of the securities organizations on the African continent. The ACGN, a network that supports corporate governance in Africa, is made up of Institutes of Directors and similar organizations working to support corporate governance and ethics in Africa. It is present in 16 African countries and represents over 16,000 directors and senior executives throughout the African continent. Ms Valls explained how good corporate governance can help Africa improve its global image: The agreement with ASEA will help us focus on listed companies, since they have an important position in the markets across Africa. We will work on training, on educating directors and on research to better identify the areas that need improvement. She also said that corporate governance in Africa is key to building investor confidence, therefore strengthening the financial services sector.

According to Ms Valls, the law does not always distinguish between bribery and facilitation payments, although the UK Bribery Act states that both bribes and facilitation payments are illegal. These payments are usually made to fast-track a process, for example when trying to obtain a license or benefit from a service. “We want to understand how widespread this problem has become in Africa and look into taking the appropriate measures, because this practice can be an obstacle to transparency and equity in the business world,” explained Jane Valls. The ACGN meeting also included a Business Forum led by Professor Deon Rossouw, CEO of the Ethics Institute of South Africa on the theme of “Governing Ethics”. A workshop on board evaluations was also held by the Financial Institutions Training Centre (FITC) of Nigeria. The network also welcomed a new affiliate member, namely the Society for Corporate Governance in Nigeria. Baroness Lynda Chalker, Chairperson of Africa Matters, a major British consultancy firm focused on providing assistance and advice to a range of businesses investing and operating across Africa, was also present for that meeting. Several other organizations also took part in the meeting, including the International Finance Corporation, ACCA, ICSA Nigeria, and the Centre for International Private Enterprise and the NEPAD Business Foundation. Aside from Mauritius, the ACGN meeting was attended by the CEOs of Institutes of Directors from Egypt, Ethiopia, Ghana, Ivory Coast, Kenya, Malawi, Morocco, Mozambique, Nigeria, South Africa, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe

and malaria, reproductive health, water & sanitation and nutrition. The interventions are specifically targeted at vulnerable and low income sections of society, mostly living in risky environment.

Diana Monica Kisaka - MIoDT 0164

Whether woman or man, there is no substitute for hard work!

A. DIANA MONICA KISAKA

s Diana Monica Kisaka is Managing Director (MD) of T-MARC Tanzania, a local NGO. Ms Kisaka has successfully built T-MARC into a sustainable organization by providing it with technical and administrative leadership. By assuming overall accountability for the achievement of the NGO’s mission and strategies in compliance with Government of Tanzania and donor requirements, she has managed to raise its profile highly among partners and stakeholders. Her experience spans over 20 years of impressive corporate management in both private and non-profit sectors.

Ms Kisaka’s board experience and work is also impressive: She doubles as secretary to the board of T-MARC; She sits on the Boards of: the First National Bank Tanzania, Opportunity Tanzania, GO Finance, Strategis Health Insurance and is outgoing Director for the Legal and Human Right Centre Tanzania (LHRCT). Prior to joining T-MARC, Diana Kisaka held senior positions in the banking industry, including Head of Channels of distribution, responsibilities in which she has worked diligently to improve efficiency, service quality, manpower and profitability. Ms Kisaka holds a Masters of Business Administration (MBA Honours) Bangalore University, India; 1994.

B. A SHORT PROFILE OF / NOTE ON T-MARC T-MARC Tanzania was launched on 1 April 2007 as then Tanzania Marketing and Communications Company Limited. Evolved from a project with USAID support. It is an independent, Tanzanian, not for profit, non-governmental organization (NGO) which employs a dynamic approach by bringing together public and private stakeholders to develop and expand consumer markets for a broad range of social products. T-MARC also promotes behaviour change through evidence-based practices that contribute to a positive health and social impact within the development field. These practices, products and strategies are in the areas of infectious diseases like HIV/AIDS

T-MARC expertise lies on project management and execution, social marketing and behavioural changes communications, Grants management, sales and distribution of health products and Monitoring and evaluations. www.tmarc.or.tz PARTNERS AND DONORS T-MARC Tanzania works with: Government of Tanzania; United States Agency for international Development (USAID) and Centre for Disease Control and Prevention (CDC) under (The United States President’s Emergency Plan for AIDS Relief – PEPFAR); PSI; Helen Keller International; VODACOM Foundation; Pink Ribbon Red Ribbon (PRRR); Bristol Meyers Squibb Foundation (BMSF); Elizabeth Glacier Foundation (EGPAF). T-MARC works with an array of international and local donors, commercial partners and nonprofit organisations to socially market brands like Dume male condoms, Lady Pepeta female condoms and Flexi-P oral contraceptives. FOCUSED HEALTH AREAS; HIV/AIDS T-MARC Tanzania applies its social marketing and behaviour change communication expertise to HIV/AIDS programmes that reach the most at risk Tanzanians including such projects as: Promoting and supporting faithfulness among adult couples; Use of condoms to prevent HIV infection and Promoting and raising awareness of voluntary counselling and testing services

REPRODUCTIVE HEALTH T-MARC Tanzania promotes reproductive health and family planning by working collaboratively with the Ministry of Health and Social Welfare (MoHSW) and other partners to develop and disseminate information, train implementing teams, organise sensitization meetings and execute behaviour change and social marketing interventions. As well as accelerating the reduction of maternal mortality in Tanzania (CARMA Campaign). CHILD SURVIVAL The goal of T-MARC Tanzania’s child survival efforts is to improve the health of Tanzanian families by building capacities such as: the reduction of newborn mortality from preventable infections, hypothermia and asphyxia by supporting immediate essential newborn care; and the reduction of the incidence of low birth weight, stillbirth and newborn mortality due to malaria, sexually transmitted infections like congenital syphilis and poor nutrition. MALARIA T-MARC has played a key role in the President’s Malaria Initiative (PMI) through the launch and implementation of the Kataa Malaria (Say No to Malaria) campaign in Zanzibar; Distribution of 250,000 bednets and the phasing out of monotherapy treatment and promotion of combined malaria treatment in the country. NUTRITION T-MARC Tanzania supports the government of Tanzania in its goal of reducing underweight, stunting, and maternal and childhood anaemia. These conditions are caused by

under- and malnutrition due to insufficient food intake and deficiencies in diets, especially in the consumption and absorption of micronutrients such as vitamin A, iron, B12, zinc and folic acid. CERVICAL CANCER T-MARC support Community Mobilization and Demand Creation for Cervical Cancer Prevention and Control Services in Iringa Tanzania suffers one of the highest cervical cancer burdens in the world and the highest in East Africa. Cervical cancer is the leading cause of cancer related morbidity and mortality of women in the country. C. INTERVIEW 1. How can you sum up the experience of serving on several boards? What would you say are the attributes of an effective board of directors? The opportunity to serve in various boards has been quite an honour to me! Director’s legal responsibilities and experience vary from organization to another, and with relevant jurisdiction. For public traded companies, these responsibilities happen to be typically more rigorous and complex than for others. Furthermore, the experience of serving on the board is built over time and backed up with relevant training. Since corporate culture and behaviour do differ, a Director’s performance is greatly enhanced through relevant capacity building intervention. As regards Diana Kisaka, I can say that thus far my experience has been very positive! The positive attributes of an effective board is when Members are delivering according to their call of duty. While doing that, they also abide by stipulated role and

responsibilities, provided that there is opportunity to contribute their points of view independently without influence of any kind, respect other member’s ideas, make valid contributions that are significant and can make a difference to their organisations, sharing relevant best practises that would assist management to make appropriate decisions and yield positive results. Attendance is also very important; directors need to be present, attentive and lively during deliberations. 2. Which challenges do you face as a director? Do you usually think of the risks and liabilities of serving as a director in Tanzania? One of the challenges that I face as a Director is the risks that the organisation I serve may face in its conduct vis-a-vis regulatory matters. Government intervention in business activities is generally unexpected and may be hard to address. Governments have own rules – local, regional, and national jurisdictions maintain different policies and what seem often to be conflicting standpoints, which necessitates a director to understand and manage the same across geographies. Whether in global sourcing, manufacturing, or selling, cross-jurisdictional compliance is one complicated undertaking. Again, in each jurisdiction, the company also has to consider actions of its employees as well as its entire supply chain when complying with regulations that could impact the company and of course the board. The challenges in the board room therefore are in the thin line between risk management and compliance to respective set of rules and regulations

vs organisation’s interest and profits; The issue of governance Vs management and that of the integration of core values into day today activities vs corporate social responsibilities. Building a balanced and effective board requires the right skill set across its members and the carrying out of a full analysis of the strengths and weaknesses of the current board. Yes, I do usually think of the risks and liabilities of serving as a director in Tanzania and for that matter I try to do my best in ensuring personal compliance. I am also aware of Director’s liability insurance as a director’s right and I personally demand it as a cover for issues beyond my control. 3. From your experience, to what extent is corporate governance practiced in the country? I believe that to a large extent Corporate Governance is practised in Tanzania. However, I would also say that more still needs to be done to better regulate the boards and implement ethical practises. This should apply equally in both public and private boards. 4. How would you rate corporate governance practices in Tanzania? I would probably rank Corporate Governance practices in Tanzania, on a scale of one to ten, at level 6! Let me dwell on that a bit to support my assertion. In the issue of board composition, formulation of board members for any specific board that requires high level performance needs a mix of members with various experiences, professions, skill set and proper gender mix and. We have to get this right to get the value of an effective board.

5. In your opinion, what corporate governance issues generally affect the exchanges in the boardroom? I think that Corporate Governance issues that generally affect exchanges in the board room occur when the Board members / Directors fail to observe the “nose in, fingers out” principle and start to behave as and take the position of the Management thereby abdicating their primary focus of being a governance body to the management. 6. You have been a director in several organisations, what are the common problems which Tanzania’s directors’ suffer? The common problem that Tanzanian Directors’ suffer is self-interest; the inability and non-confidence to declare conflict of interest in matter pertaining self and distance oneself from due involvement. 7. What would you say could be reasons for underrepresentation of women on boards in Tanzania? Can you suggest a “way out”? I do not see why women are not given the opportunity to serve as Directors in Tanzanian organizations. I am a strongly believe that women make good administrators and have an important role to contribute in any organisation’s performance. I also believe that Tanzania boasts many elite, capable and well experienced women, some of whom are doing wonders in their work. If not utilised, these talents and experiences are surely laid to waste! I am fresh from the Global Women’s Initiative summit, held last month at the President G. W. Bush Centre in Dallas, Texas USA, to which I had an opportunity to address (Refer

www.bushcentre; Global women’s initiatives). While there, I met with numerous women who are running global development initiatives and are proud of their achievements, success stories and best practices. To me, this is a typical demonstration of women’s ability and leadership in their respective areas. Many of the Board members in Tanzania are by appointment. It is my opinion that the appointing authorities continue to show limited reach in recruiting aptly qualified women. My proposal is for authorities and organisations to try as much as possible to utilize “open” vacancy advertisements plus gender preference requirements. I believe many applications will flow and appointing authorities therefore might be able to zero in on capable women. 8. Please share your advice with Tanzanian women aspiring to scale the heights of the corporate office and governance, like you? Whether woman or man, there is no substitute for hard work! I am a typical example of a self-made successful career woman. While it has not been easy to remain focused, raise within ranks and be recognised, my passion in whatever I do has never wavered. I have maintained clear goals in life and thank God I have reached where I am today. To my Tanzanian sisters who aspire scaling professional heights, there is no alternative other than stretching the comfort zone, working harder and smarter and remaining consistent and constant. Management of one’s professional conduct and recording results and achievements are key. Please keep in mind that whenever an opportunity presents itself go

for it and never shy away from demonstrating your capabilities. Believe me you will be noticed and picked even without saying much. Of course, Action speaks louder than words! 9. You are a certified and active member of the IoDT, what are your thoughts on the IoDT and its role? The Certification improved tremendously my level of performance in the board room – Thank you, the IoDT! I am convinced that the Institute will advance corporate governance in Tanzania to the next level. Kudos for the initiative and to all the IoDT members! South Africa, for instance, has had a similar institute for much longer and that is reflected in the positive strides made in its as well as its strong organisations as a result of quality boards and directors. Yet the IoDT needs to evolve and borrow best practice. It has started well but now we need to see improved offering in the way of varied training programmes on top of the Certification so as to keep members abreast with evolving international standards. For instance, the Institute could develop e-learning curriculums as well as maintain exchange forums for members in order to refresh, get involved and be motivated. Also, please work to expose and update member with new governance guidelines, rules and regulations which govern board practices. 10. Thank you too, Ms Kisaka! How has the training from the IoDT impacted in the discharge of your responsibilities especially your recent posts? How has the same impacted on the performance of your Senior Management Team (SMT)?

It has been quite useful. For instance, this training has increased my analytical skills especially in numeracy – reading financials and reports, overall bank profitability and performances reviews which has come in handy in my recent appointment as a the director of First National Bank (FNB). It has also impacted positively on my current post as the secretary to the T-MARC Board. From it, I took inspiration and advised the T-MARC Board to have a good right-skills director representation by considering new directors’ experiences, varied background and gender. We have improved our board charter; we instituted Annual General Members and conducted our initial AGM. We have structured board meetings and considered a more serious role of the subcommittees as well as adopting independent chairs for each of the board subcommittee. Quite a lot as you can see, isn’t it? Moreover, my SMT are now very well-versed on the importance of a functional board of directors. They themselves have become eligible directors and are confident and encouraged to serve on other boards. They have become specifically enthusiastic and supportive of the governance structures and I am happy that they do provide timely and very valuable input (board papers) for our board decisions. 11. In your opinion what aspect of corporate governance, if any, may also be applicable at household level? From a responsible mother and wife perspective – both of which I am, households are guided through agreed upon values. In

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the household we can therefore borrow some relevant principles of governance such as having an overseer of overall matters that relate to the family. Recognizing the rights and equitable treatment of family members is also important as is the exercise of their rights openly and through effective communication while being encouraged to participate. A family needs adequate and appropriate levels of independence and commitment. Integrity and ethical behaviour should be a fundamental requirement in our family values. Disclosure of information should be timely and balanced to ensure that all members have access to clear, factual information.

THE CAPITAL MARKETS’ UNIVERSITY CHALLENGE The Minister for Finance Honorable Saada Mkuya (with the head scarf) who was the Guest of Honor during the University Challenge Award Ceremony on (1st September 2015 at Hyatt Regency Hotel Dar es Salaam), in a group photo with a CMSA Board Member and Senior Staffs.

12. You are very busy lady, how do you juggle work, family and hobbies? Despite my extremely busy itinerary, my family comes first! With that in mind, I have always have had to find solutions to this no matter what. I have read books and even attended classroom training on work-life balance and also seek advice, on continuous basis, from people with similar challenges so as to find out the perfect balance. Apart from sticking to well-laid plans and executing them, I realize that it is important for the family itself to remain supportive for me to achieve work life balance. How I thank God for a supportive and understanding family! With that I am able to work diligently, keep fit, read as I wish, spend time with my family, attend social activities/gathering and also generally relax. 13. May be you have a book you are currently reading, which is it?; Which is next? Why? In fact, two at a go! “The Women’s Bible’’ and “Prayer Passport’’.

Mr and Mrs Kisaka with their two boys (Sergio and Prince) in a smiling pose.

“The Women’s Bible” is a new bible dedicated for women in my church. Did I say that besides being a director of an NGO, a board member of a bank, an insurance firm and microfinance organisations, I also work for my church as a women ministries leader? This bible is one of the books that are new and contain guidance to women leadership in my belief. I expect that next is “Rather Outspoken’’ by Dan Rather. 14. Lastly but not least, please share with us a bit about your family, hobbies, and future ambitions.

Diana Monica Kisaka, a humble yet aggressive woman, is married to Mr. Cleveland E. Kisaka who is a graduate in Business Administration and an ex-banker (Bank of California - USA). Mr. Kisaka now runs his own business dealing with tourism and finance. We have been blessed with two boys: Sergio John Kisaka is 14 years old and Prince Golani Kisaka is 11 years old.

The Minister for Finance Honorable Saada Mkuya (with the head scarf) who was the Guest of Honor during the University Challenge Award Ceremony on (1st September 2015 at Hyatt Regency Hotel Dar es Salaam), in a group photo with a CMSA Board Member and Senior Staffs.

The winners of the University Challenge attentively listening to one of the presentations during the study visit to capital markets institutions in South Africa in early September 2015.

I love traveling, music, reading, and helping others. I have an ambition to pursue my PHD in organisation development, in the nearest future.

I M P O R T A N C E O F IC T G O VERNAN C E ICT Governance is a subset of corporate governance which can be simply defined as the strategic alignment of IT strategy with the business strategy to ensure IT delivers value with high performance. The foregoing is derived by managing IT resources while mitigating IT risks.

n IT Strategic alignment, the organisation has to ensure that its corporate strategy and IT strategy are developed in a way that the business harnesses the capabilities offered by various IT developments. The emphasis here is that IT should be a business enabler.

Mr. Robert John Mtendamema MIoDT 228 is a Director of Information Systems at PPF Pensions Fund in Tanzania. Mr. Mtendamema studied computer science at the University of Dar es salaam and obtained his BSc (Hons). Later, he pursued his Master's Degree in Data Communication Networks and Distributed Systems (DCNDS) from University College London, UK. Mr. Mtendamema is also a certified balance scorecard professional.

E-Banking is one of recent IT developments. Most banks provide these platforms which can be integrated with native systems to provide easy and fast banking facilities. Mobile phone companies also provide technologies which can be used for collection and disbursement of cash services enabling organisations to reach customers in remote areas with no banking facilities. Also, customers can transact beyond banking hall open (official) times using mobile services. For example, through such services as M-pesa, Tigo Pesa or Airtel Money (to name a few of such brands as an example) customers can buy LUKU from TANESCO whenever and wherever they so wish. The evolution of social media such as WhatsApp, Viber, Facebook, Twitter and similar technology helps organisations market products to customers in a cheaper and very intrusive manner compared to the “old media” channels such as

newspapers, radio, television, telephone and direct mail. There has also been more recent technological leaps such as the advent of cloud computing, which offers vast services to organisations at a lower costs. These services range from IT infrastructure, software services (email, antivirus) and storage services e.g., Dropbox, Google drive and SkyDrive. IT means an advantage edge to businesses. However, IT systems and hardware are quite expensive bill and in the event of IT projects failure (a somewhat prevalent occurrence) there are possibilities of sizable and often crippling losses to businesses. IT failures mostly result from lack of planning, bad planning, inadequate planning and inadequate due diligence during the procurement stage of software and hardware solutions. The key success factor for IT implementation is for a solution which delivers both value and high performance to the business. Through IT governance, a business can put in place a number of measures such as: project management framework, performance metrics for IT and projects,

service level agreement from the supplier/vendor, information integrity framework, enterprise architecture, IT outsourcing policy, IT assets disposal policy. Once in place, all these policies and frameworks ensure that the business is making the right technology choice. Another key issue is the way the utilization of IT systems could introduce specific business risks. Some businesses have a high reliance of IT in their processes which could mean a presence of single and very prominent point of failure. Nowadays, IT systems downtime (unavailability or outage) could fully impact on all operations for some organisations. That is why the presence and adoption of a Business Continuity Plan (BCP) ensures that an organization has a conscious and proactive response for any adverse event(s) (a disaster or disasters) which could derail its processes and impact its set strategy from being realized so as to ensure that the business continues to function. This plan must be updated and tested from time to time to ascertain its correctness and soundness. By the same measure, IT governance also requires an organisation to maintain an IT Disaster Recovery Plan (IDRP) which details all the risks which may happen to and impact respective IT systems and imminent recovery by taking daily backups of all systems and by making certain the existence of an offsite backup facility. One of the major security threats to an organization as well as any IT systems is the disruption of services as a result of an attack

through computer viruses, trojan horses and hackers (malware). As mitigation against the above mentioned threats, IT governance stipulates an organisation’s IT security with comprehensive policies as a safeguard to IT infrastructure and systems. The IT security policy should address important data properties which are confidentiality, integrity and availability and also it is recommended to include a requirement to carry out an annual IT penetration test (pen test), whereby a certified (ethical) hacker is engaged to test organisation’s systems and the resulting report becomes a basis for a system diagnosis and finally to plug identified holes/ potential weaknesses. Today’s boards of directors therefore need to see their responsibility “to safeguard organisations assets” in a new light. “IT assets” probably represent the most important assets of the organization and the boards have a huge role to play ensuring that an IT governance framework is in place to guides IT investment and operations for the success of the business. The framework should minimally require the existence of policies addressing IT infrastructure, Information systems and IT governance and security. By virtue of all the foregoing, the IT governance is elevated to be a crucial board agenda item which deserves set timeframe and regularity in featuring in board meetings. During such meetings the board will receive and deliberate on specific reports on status of IT infrastructure, IT systems and Security issues.

It therefore follows that a board member with IT background and knowledge is indispensable in today boards especially for those IT-heavy (dependent) organisations. If not the case, a presence of a member with such a profile is at least strongly recommended. Where the above two scenarios are not tenable then it is advised that the board co-opts an IT specialist expert who can be invited to board meetings when IT governance matters are under discussion to give assurance on the status of IT Governance within a given organisation. The same could also be said for a relevant board committee In conclusion, the world and our life have been moving from the “technology revolution” to the “information era”. All smart businesses are aware of this status plus threats and opportunities presented by that environment. Practical and effective corporate governance also has to move with the times and socio-economic realities. ICT presents corporate governance with new challenges and therefore has to be accepted now as a crucial component of corporate governance. If adopted properly, effectively and is well implemented, IT Governance can take a business to higher attitudes. However, the opposite may also be true in that its ignorance and non-practice could present a potentially huge adverse effect to the growth of a business and might lead to business threats, loss and sometimes collapse and closure of business.

UPCLOSE & DIRECTOR PERSONAL Edward Samwel Lyimo - MIoDT0339 WITH

Edward Samwel Lyimo joined TIB Corporate Bank Limited at end of July 2015 in the position of Director of Legal and Company Secretary. Previously, he worked with KCB Bank Tanzania Limited as the Company Secretary and Head of Legal since 2011. He started his banking career in 2004 at Barclays Bank Tanzania Limited where he served as Legal Counsel for six years. Before joining banking industry as in house lawyer, he has worked at law firms in Tanzania and United Kingdom in the capacity as Legal Officer and Oversees Associate respectively.

Q: What do you understand by the term “leadership” and/or its practice? A: Leadershipas a concept has evolved from generations but with a notable change from transactional to transformation leadership. The importance of leadership in social economic development has led to various description of the concept-but it is well clear now that leadership doesn’t have a one-size-fits-all definition. But while the definitions may vary, my subscription to leadership is centered on definingleaders as individualswith a vision and who know how to achieve goals and inspire people along the way. While in the course of years the focus has been to define and describe various traits of leadership, the important focus for me has been on the effective leadership. That is the test of “how” factor in executing the vision with available resources. I believe that truly effective Leaders are distinguished by a high degree of emotional intelligence with little focus on trainings, ideas, resources etc. Those elements, on their own will not make you to be a great leader. Leadership in practice can be effective with application of the chief components of emotional intelligence oneselfawareness, self-regulation, motivation, empathy, and

social skill. Each component is relevant even in economic and business context with direct connection to performance or results. Q: Do you have a particular leadership style? If so, please share with us. A: I subscribe and practice transformational leadership but well guided within the ambit and ingredients of emotional intelligence. I believe that the relevancy of being a good leader is to get results. At the heart of leadership is a vision. Through the vision, character and personality, transformational leaders are able to inspire followers to change expectations, perceptions, and motivations to work towards common goals. I prefer transformational leadership as it provide anopportunity for introducing changes in organization systematically and aimed at bringing immediate impact to the organization and stakeholders. Through the application of transformational leadership, one will gain trust, respect, and admiration from colleagues around the society or workplace. I also, through years I learnt that the most successful leaders understand their strengths and the strengths of those around them so they can delegate tasks.I have always taken a self-reflection

and reminded myself that I am not good at everything and creating trust that others can perform equally better than me. That has helped to create confidence to team members and helped the organization in succession planning. Q: Please share with our readersthe formative influences and influencers (i.e., role model) on you when you were starting out on your career? A: I must admit, I didn’t have an advantage of mentors or counselors to guide me on my career path. My career choices weremainly shaped by the social and economic influence from my childhood. So, my first career move was more of a default choice guided by skills and attaining certain gradeswhich were pre requisite for joining a certain course or discipline. On the people side, I have been inspired by many achievers from different spheres, being economic, social, political and spiritual. These individuals are drawn from local and international level and they have all made contributions to fulfillment of most of my objectives todate. The list of individuals who inspired me to my present achievements is long-from mentors, coaches, supervisors, award winners, sportsmen/women and others. I have also been inspired by the disadvantaged when trying to put myself in their position. Q: Was there a single moment or challenge that defined your career; please explain?

A: The attachment to one of the biggest Law firms in the world styled as Allen and Overy LLP in London, United Kingdom in 2008. The opportunity to work as an Oversee Associate unveiled a new world to me at early stage of my career. Since then, my approach to projects and instructions from Clients changed completely. The experience of innovation and technology in providing solutions to clients was evident. But importantly, is the level of investment in “people” through trainings as part of growth and career development.

and adequate regulatory framework for Corporate governance, limited pool of competent directors, lack of certification requirements for all directors, lack of Chartered Board Secretaries framework, failure to distinguish roles of a shareholder, directors and Executives, gaps in governance framework for most banks, conflict between best practice and law establishing Government banksand selection process and retirement of directors serving in Government owned banks.

Q: What about regrets? Or anything that you may look back on now, perhaps, as a missed opportunity? A: I prefer to focus on future and consider past mistakes and missed opportunities as learning curves towards shaping my career better.

Q:How could such Banks make more effective use of their directors, then? A: The selection criteria and on boarding process will determine the type of directors you will get in your board. The right mix of experience and skills will create a useful board capable of contributing to the growth of the organization. I prefer adoption of business approach to all directors with clear responsibility and accountability for sustainability of the business. The directors should create business opportunities at their levels for follow through and conversion by Management. That is possible with sound governance framework detailing supervision and execution of the corporate strategy by the Board. The constant engagement between directors and management on business performance and controls will help to add value from director’s perspective. And the best way to measure effectiveness of the Board and directors individually is

Q: As an experienced member/ company secretary of the board, what do you think could be the challenges facing sound corporate governance practice in many Tanzanian Banks? A: I am happy with current trends and adoption of best practices on corporate governance by many banks in Tanzania. It is also encouraging to see regulatory intervention particularly from Bank of Tanzania with regard to sound corporate governance within Banks and Financial Institutions. However, banking industry has not been spared from “common” challenges facing much organization in Tanzania. Currently, banking industry is facing a gap of a complete

through the implementation of evaluation process. Q: Please share with our readers how you see the future of Tanzanian banking A: Tanzania economic growth potential is enormous and has become the new banking destination in the region with 56 banks and financial institutions licenced up to June 2015. The future of banking in Tanzania will be dominated with technology and innovation with mobile banking, internet banking and use of other channels on rise. With level of financial inclusion increasing, it means that only those banks prepared to offer innovated banking services and solutions will survive beyond 2020. I see customer centric becoming a critical factor in attracting customers. The banks will be challenged to tailor and design their products to suit the raising demands from youth populations. The future of banking in Tanzania will also be characterized with mergers and acquisitions for less efficient banks. Q: Do you describe yourself as an “early morning” person (i.e., someone who feels energetic and awake when they’ve just got up, or early in their day) or not?; Why? A: I have created a working formula which has been really working for me. I put a lot of energy in the first 3 hours in the morning for routine days, especially focusing on important and urgent matters. In some cases, when handling critical and complex transactions, my day starts at 3:00am and preceded

by a prayer and meditation. This process creates a lot of energy to me and most of my complicated and long outstanding issues are resolved through this routine. Q: How do you balance the stresses of working foran upcomingbankin the country with giving“quality time”to your family? A: I don’t believe balancing between work and life/family will create a perfect life. There must be a measure and apportioning of time and resources for each without necessarily balancing the two. For example, if your priority is family; then may be 60% of the time should be spent there. I believe in family as unit and the heart of happiness for most of human beings. And that is my position. But I understand the importance of working hard to create a complete happiness within the family. I play my role as a father within my family and ensure that my time and resources are allocated appropriately with minimum complaints from these two demands. Also, I play my part to create a platform for an employer to create that happiness to the family. That compliment is key and inseparable. Q: Please share with our readers your preferred way of practicing ideal “work-life” balance by explaining how you relax after work? A: Switching off from work completely and spending quality time with my family top the list of my relaxation. Taking part in sports and regular exercising helps in forgetting

my pending assignmentat least for that moment. Otherwise watching various TV programs and reading books, articles, journeys compliments my relaxation after working hours. Q: Is there, perhaps, a book or two waiting to be read – either by your bedside, in your study or on your work desk? Also, please share with us one or two title of most important leadership/business you have read. A: I am currently reading a book from Andrew Rugasira titled“A good Africa story: how a small company built a global coffee brand”. This is an inspirational story from a successful African entrepreneur from Uganda who founded the African Good coffee, the first to be sold in United States and United Kingdom retail shops. My recommendations for business, financial and strategy books include Good to Great (Jim Collins), The Lean start up (Eric Ries), The Big picture (Ben Carson), Built to Last (Jim Collins and Jerry Porras and Strategic Management by Arthur A. Thompson Jr. Q: Finally, Your message to fellow Tanzanian directors – a sort of from me to you advice? A: Directors should always discharge their fiduciary duties bestowed upon them by shareholders with diligence and care. Also, the directors should focus on the sustainability of businesses as compared to profit as primary target during their tenure.

UPCLOSE & DIRECTOR PERSONAL Asa Mwaipopo - MIoDT 0185 WITH Q: Please tell us briefly about Asa Mwaipopo

Asa Mwaipopo (MIoDT 185) the trained Mining Engineer, with a degree in Mineral Sciences from the University of Zambia - 1991 and a Master degree in Mining Engineering from Camborne School of Mines in the UK 1996. Mr Mwaipopo is now the General Manager of Acacia. His imprints of experience include that in mining Engineer, Mines Inspector, senior production engineer and mining production manager, marked from his stint with both private and Government sectors. He is a Certified Member of IoDT and holds deep and long – term interests in Governance

A: I am a trained Mining Engineer, with a degree in Mineral Sciences from the University of Zambia - 1991 and a Master degree in Mining Engineering from Camborne School of Mines in the UK - 1996. I served a career in the Government as a Mining Engineer from 1991, then Mines Inspector before joining a private sector in 1997. I was involved in the development and construction of Geita Gold Mine and continued to serve as a Mining Engineer then rose to Senior Production Engineer and Mining Production Manager. I joined Barrick Gold in 2007 where I was part of team for construction of Buzwagi Mine till commissioning and continued on to operations as Mining Manager. I moved on to joinMantra Tanzania in 2010 to develop the Uranium Mine at Mkuju River in Namtumbo Ruvuma as Mining Manager and rose to Country Manager then Managing Director. The project was frustrated by the collapsing of the uranium price following the Tsunami event at Fukushima in Japan which resulted in closing of the Nuclear Reactors on March 11th 2011. I then rejoined African Barrick Gold (now Acacia) as General Manager Sustainability, the position I serve to date. I am a registered Professional Engineer with Engineers Registration Board (ERB), a member of the Australasian Institute of Mining and Metallurgy (AusIMM), a fellow of the Institute of Engineers Tanzania (IET) and a member of the Institute of Directors Tanzania (IoDT). I am happily married to Dr. Rosemary Mwaipopo and I am a proud father

of a daughter and two sons Q: What do youunderstand by the term “leadership” and/or its practice? A: To me leadership is showing the way, encouraging the heart and celebrating success. A good leader must be able to create a picture of where s/he would like to take the organization or achieve with the organization. A good leader must show the way and when times are tough, the leader must encourage those s/he leads to soldier on to the success. A good leader needs to recognize achievements at each milestone and celebrate the successes with the people that s/he leads. The football teams’ managers are the best at this when it comes to celebrating the milestones – the goals scored. Q: Do you have a particular leadership style? If so, please share with us. A: Times of any organization life cycle, or a particular business activity are never the same and would demand different type and style of leadership in order to be successful. Therefore situational leadership which responds accordingly to the changing environment and challenges of the day is the best leadership style. Q: Please share with our readers the formative influences and influencers (i.e., role model) on you when you were starting out on your career? A: Firstly, I am not a very good believer in ‘role models’ concept since I tend to think that each individual is unique with unique potentials. If one attaches oneself to another person too much, it could turn out to be a capability

limiting move of his or her potential because of using a wrong yard stick rather than what God has laid down for him or her! Nevertheless, this subject is unavoidable so, I also took up to some individuals with admiration. Jacque Welsh a Chemical Engineer who turned General Electrics (GE) to a mega successful company is one of the most admired CEO. I like his approach to performance and type of Managers. He says you have four types of managers;

minimize Project time slippage. As a Manager of Mining, I took up the challenge with the team we reviewed the mine plan, executed it diligently and ensured safe delivery of ore to the processing. We successfully achieved the plan on schedule and on budget. It was great and we celebrated the success.

1. Those who share the values and make the numbers

A: I tend to look hard but I find none! Even some of the tough times that led me to make certain decisions appear to have been a blessing in disguise for the decisions that I took in doubts but end proved to be only the right move.

2. Those who share the values but do not make the numbers 3. Those who do not share the values but make the numbers and 4. Those who do not share the values and do not make the numbers The managers in1 and 4 are easy, since most organizations would choose to keep and ask them to leave respectively. Mr. Welsh differentiates himself from many who tend to keep those who make the numbers but do not share the values of the Organization. He acted differently, by giving another chance to those who do not make the numbers but share the values and asks those who do not share the values to leave even if they do make the numbers. Q: Was there a single moment or challenge that defined your career; please explain? A:The construction of Buzwagi Mine Project was taking place after the Kenyan General Elections of 2007 which were followed by crashes, disturbances and caused interruptions to business including the port Mombasa coming to a standstill. We had most of our mining equipment in the deep seas destined to site via Mombasa. Luckily we had some equipment cleared and delivered hence the challenge was to adjust plans and resources in order to

Q: What about regrets? Or anything that you may look back on now, perhaps, as a missed opportunity?

Q: Please share with our readers how you see the future of Tanzanian mining A: When one looks back to our History of Mining in Tanzania, the Industry is not new as it tends to be portrayed. Williamson Diamonds Mine in Mwadui has been in operation since 1940s, the Geita Gold Mine (Old) was commissioned in 1936 and only closed in the 1960s due to uncertainties in policy hence lack of investing in exploration, just some big ones to mention. The recent trends of late 1990s and 2000s were as a result of putting in place a competitive mineral policy, the law and fiscal regime. Unfortunately the incentives and competitive environment have not been kept in place for long enough before several changes started taking place which eroded much of the incentives and our competiveness to attract mining investment. The World respected ranking of attractiveness for mining investments; the Fraiser Institute had Tanzania at number 39 out 72 countries survey in 2009 and scored 60.1% on policy and best practice. In 2013 the position changed to 65 out of 112 countries surveyed and scored 50.5%. To me the future of this industry lies in our hands, we need to understand

the industry and its fundamentals of which one utmost fundamental is stability in the fiscal regime so that such long term and risky investments can be decided upon with some assurance. Q: Do you describe yourself as an “early morning” person (i.e., someone who feels energetic and awake when they’ve just got up, or early in their day) or not? Why? A: I have been pulled to stay in bed for a little longer, hahahahaaaa!!andI have once been told that I am too early at work. I guess with these two comments I am an early morning person and I get up straight into work. To a bigger extent it is because of the mining operation background whereby shifts are early and on time, you just get tuned to that and once tuneit not easy to drop the habit. Q: How do you balance the stresses of working for a large mining company with giving“quality time”to Mwaipopo family?

can and beat the traffic jams to get home early and take the family for a walk. I live in Makongojuu and we have some very nice walking terrain. It started in a simple way but we now we have an informal health walk club with several neighbours and friends joining the walk club. Q: Please share with our readers your preferred way of practicing ideal “work-life” balance by explaining how you relax after work? A: Fairly similar to the previous question, but what I would like to add here is that apart from the walk days which I aim for three days in a week, I also try at least once a month to do a barbecue for the family. I teach my boys how to roast the meat and for once, to serve their mother, sister and our house helper while sharing stories at the backyard. It is the moment the family loves the most when I call and say “I am passing by the Masaki Butcher Shop, for some

‘boerewors’ and barbecue meat, please start getting the fire ready!” Q: Is there, perhaps, a book or two waiting to be read– either by your bedside, in your study or on your work desk? Also, please share with us one or two title of most important leadership/business you have read.

The Seven Habits of Highly Effective People by Stephen Covey is a good read and I recommend strongly for those in senior leadership roles. If I can add another book, it would be The GOAL, management oriented novel by EliyahuGolddratt.

A: Yes, there is a book that I read a while ago that is waiting to read again since it is a new version and I just want to refresh upon. It is controversial and has divided opinions of people. The book is an investigative story about the death of Pope John Paul I who only served 33 days in office before his death in 1978. I am not on the side of the opinion or the findings of the author but rather a good understanding of the Roman Catholic Church (being a non-Catholic myself) and how the church as an organization has managed to go through different times of the changing world, yet it has successfully provided powerful influence and leadership to the

A: This is not easy but one has always to remember the 30 second speech by Bryan Dyson former Coca Cola CEO when he once said “Imagine life as a game in which you are juggling some five balls in the air. You name them – Work, Family, Health, Friends and Spirit and you’re keeping all of these in the Air.You will soon understand that work is a rubber ball. If you drop it, it will bounce back. But the other four Balls – Family, Health, Friends and Spirit – are made of glass. If you drop one of these; they will be irrevocably scuffed, marked, nicked, damaged or even shattered. They will never be the same. You must understand that and strive for it. Work efficiently during office hours and leave on time. Give the required time to your family, friends and have proper rest.” So what do I do? I am guilty at leaving office on time, but I choose some days whereby I come too early to work, clear most of what I

world and powers that be. It is titled IN GOD’s NAME written by David Yallop.

Q: Finally, Your message to fellow Tanzanian directors – a sort of from me to you advice? A: I encourage my fellow Tanzanian directors that when we accept the role of directorship, let us serve our tenure with due diligence. Our roles can significantly contribute to turn Tanzanian businesses into successful economic growth engines and contribute to expedite eradication of poverty in our country. Mwalimu’s words “Play your part, it can be done” speaks volumes

THIRD QUARTER, 2015

Whether woman or man, there is no substitute for hard work!

CEO’s Message

Corporate Governance And CSR - Yesterday And Today

Ø How does a board set up Chief Executive performance management in a private company? Ø

Importance of ICT Governance

Ø Tips to Develop Stress Resilience Ø Sir Adrian Cadbury Obituary

John Wilson info@iodt.co.tz | jwilson@iodt.co.tz Tel: +255 22 21 53412 Mob: 0759 733790 | 0768 263 226

UPCLOSE & DIRECTOR PERSONAL Eng. Sam Kamanga - MIoDT 0035 WITH Q: What do you understand by the term “leadership” and/or its practice? A: Leadership is the manner and approach of providing direction, implementing plans, and motivating people. Leadership could also be a way of communicating to people their worth and potential in such a clear way that they come to see it in themselves. On the other side as seen by the employees, it includes the total pattern of explicit and implicit actions performed by their leader. Engineer Sam Kamanga has spent more than 12 years of his 19 year professional career in high level senior positions in Insurance, Banking, Retail and Information Technology. Prior to joining National Insurance Corporation (NIC), Mr. Kamanga worked with Tanzania Railways Corporation, National Estates Designing Corporation (NEDCO), DeKoWe GmbH (Germany), Target Corporation– Retail (USA), US Bank - Banking (USA), and Metropolitan Health Plan - Insurance in Minneapolis(USA). Mr. Kamanga is a memberof the Tanzania National Internet Governance Forum and the Institute of Directors Tanzania (IoDT). He alsoserves as the Chairman of COMESA Yellow Card Scheme (Insurance) andsits on the boards of Ubungo Plaza Company Ltd, Institute of Finance Management (IFM) and the Association of Tanzania Insurers.

Q: Please share with our readers your particular or preferred leadership style. A: I prefer a consultative or participative leadership style. Sometimes I also practise decisive style, allowing my team to be part of the decision process but retaining the right to make a decision I deem best.I may, sometimes, prefer to combine all three styles while making one of them dominant.I believe that sticking with one style, normally autocratic, could be signs for bad leadership. Q: What were your early career influences and influencers i.e., role model(s)? A: My early career was influenced by my Bosses, Dr. Kay Hendrickson (PhD) and Dr. Dan Kramer (PhD) and managers (Mr. Tom Ihlenfeldt and Mr. Bennie Warren) who identified strengths, built my confidence, and pushed my risk-taking limits. But resilience and self-sufficiency were the key lessons thatI had learnt much earlier from my dear mother. My “go and get them attitude” is a primary contribution of my late father, Mzee Kamanga (RIP!). My parents taught me the value of hard work and integrity. Myteachers, as well as my lovely wife, were very instrumental in

helping me build confidence and supporting the pursuit of my passion. Clearly, my career is continually shaped and reshaped by the multitude of people and things I interact with on a daily basis. Q: Can you single out a moment or challenge that defined your career; please explain? A:I will live to remember the moment when I was given the opportunity to take over as the Managing Director at the NIC.I knew that I was taking an enormous challenge calling for so much sacrifice especially time to deal with “CHANGE”. That is not an easy task to implement anywhere let alone a 50 year old organization.At 52 years of existence, NIC is one of the oldest State Owned Enterprise (SoE’s) in the country. These new role has definitely redefined me and my career. Q: What about regrets? Or a missed opportunity – so far? A: I avoid looking at missed opportunities as regrets. I prefer to look at them as learning opportunities to be able to do and get better next time. Q: How do you manage your board of directors – or rather, does the board manage you? A: Boards could be ceremonial, monitoring or guidingstructures. My board at the shows good mix of the attributes I have just mentioned. Regular communications and clarifyingissues with them helps matters and contributes towards our good and conducive relationship. Q: From your board practice, what are challenges for sound corporate governance practice for Tanzanian Insurance firms such as the NIC?

A: We are in a very dynamic era where product and solution lifecycle is so short that courage and consideration are needed to stay ahead, and do things that have never been done before by NIC or competition. We need to be alert to everchanging customer demands so as to create risk products for our customers for revenue and growth to our business. Q: How could such firms make more effective use of their directors, then? A: Firms need to engage more with their directors, regularly build their capacity for them to exercise proper stewardship. Q;Please share with our readers your vision of the Tanzanian insurance industry? A: The emergence of digitalization is going to transform the industry drastically especially in its distribution channels. We need a whole new skill-set and teams are going to have to transform processes that will enable the traditional business to ease out while growing new digitized solutions for insurance demands. Q: Do you describe yourself as an “early morning” person (i.e., someone who feels energetic and awake when they’ve just got up or early in their day) or not? Why? A: Sure I describe myself as an “early morning” person. I am usually up with little or no “fogginess”. I am normally buzzing and ready for activity quickly and always have a lot of energy and joy in the morning. Q: How do you balance the demands of working for solidinsurance firm with providing“quality time”to the Kamangafamily? A: Life is about balance. Maintaining a weekly plan allows me to share time to what matters most. I have dedicated weekend for outdoor activities with my family.

Q: Please share with our readers your preferred way of practicing ideal “work-life” balance by explaining how you relax after work? A: Previously, I have tried to schedule equal number of hours for my various work and personal activities and found that quite unrealistic. Life is and should be more fluid than that. There is no perfect, one-size fits all or a balance you should be striving for. The best work-life balance is different for each of us because we all have different priorities and different lives. Q: Is there, perhaps, a book or two waiting to be read– either by your bedside, in your study or on your work desk? Also, please share with us one or two title of most important leadership/ business you have read. A: There are two books, authored by Jim Collins, which I am waiting to read. I am told that Good To Greatisa wonderful book addressing the question “can a good company become a great company, and if so, how?”Built To Last is co-authored by Jerry Porras and based on a research project at the Stanford University Graduate School of Business to investigate the question “why are some companies able to achieve and sustain success through multiple generations of leaders, across decades, and even centuries? Q: Finally, Your message to fellow Tanzanian directors – a sort of from me to you advice? A: The world is changing very fast, we have reached to a point whereby big will not beat small anymore. We are in an era that fast beating slow. We leaders (Directors) need to be more creative and innovative in order to cope with these challenges of the 21st century. Let’s do things differently so we can build reputation for our institutions.

Information & Advisory Services The Institute of Directors in Tanzania can provide information and advice on corporate governance issues such as: • Answering general queries • Providing general information and guidance on corporate governance issues • Advising on best practice in accordance with the National Code of Corporate Governance and OECD principles, including Corporate Governance assessments and reports • Advising on establishing and implementing ethics management • Advising on and drafting of charters, terms of references, polices and corporate governance reports • Development of guidelines and tools on any corporate governance related issues For more information, please contact: Institute of Directors in Tanzania (IoDT) Room S05 Mhasibu House Bibi Titi Mohamed Street PO Box 1320 Dar es Salaam Phone: +255 22 2153 412, 759 733 790, 768 263 226, 767 413 921 Fax: +255 22 2151 746 Email: info@iodt.co.tz, jwilson@ iodt.co.tz, abduel.kela@iodt.co.tz, vicky_pallangyo@iodt.co.tz Website: www.iodt.co.tz

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The Institute of Chartered Secretaries and Administrators (ICSA) Tanzania chapter launched at the Dar es salaam Hyatt Regency Hotel.

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“you’re not a member of (the) executive team, you’re not a member

Guarantees Letters of Credit Bill Discounting

of (the) board, you’re the interface between the board and executive, you’ve got to have the independence” Co Sec 04 and 05, Private Sector”

T Credit products

he ICSA Tanzania chapter was launched in the morning of Monday, 26 October 2015, at a very lively ceremony held at the Dar es salaam Hyatt Regency Hotel. Mr. Simon Osborne, the CEO of ICSA, was the guest of honour at the ceremony. Mr. Osborne showered praises on Farzana Karimjee of FB Attorneys and Said Yakubu of Yakubu & Associates, two individuals who have worked extremely hard and provided the driving force behind the establishment of the Tanzania chapter of the ICSA.

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Mr. Osborne was accompanied to Dar es salaam by Ms. Alison Dillon Kibirige, a global expert on corporate governance and the chair of the Uganda chapter of ICSA Uganda branch. After the official launch ceremony, both Mr. Osborne and Ms. Kibirige gave interesting and very enlightening short presentations on board evaluation and experiential learning and the work of a CS, respectively.

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Our bouquet of products range from working capital, cash management, treasury, credit and trade products in the form of guarantees, letters of credit and bill discounting. Not to mention our renowned deposit products the likes of savings and current accounts, fixed deposit and call accounts to say the least. You name it, we are the go to Corporate Bank.

Ms. Karimjee and Mr. Yakubu, at different times, addressed the invitees – students and other participants who had attended the launch.

The work of both Ms. Karimjee and Mr. Yakubu will have a direct and positive future implication for both the country and careers. The ICSA targets to hold networking events, workshops, seminars and similar initiatives to stimulate our minds and reinvigorate careers with helpful knowledge. ICSA is a chartered membership and qualification body for the professionals working in governance, risk and compliance including company secretaries. It works with regulators and policy makers to communicate best practice. ICSA is headquartered in the United Kingdom. The Institute confers chartered status on those who qualify and gain sufficient experience by pursuing a programme which combines law, finance, and corporate governance with strategic management and decision making. The role and profile of CS’s has seen major transformations along with the changing landscape in the corporate governance arena. For board of directors to work

effectively a blend of skills and the right combination are needed. During our Certification in Directorship (CiDir) courses many issues regarding the functions, position and role of the corporate secretary (CS) come up. Issues such as what qualification and specifically whether only lawyers can work as CS’s. Also issues revolving around their role, inside and outside the boardroom, their powers and authority plus liability vis-à-vis directors. In fact, are they directors? Is their contribution part of the board’s resolutions? Do they speak up freely or only when addressed to and have to respond to a specific query. Additionally, is the common structure in the parastatals where the DG is the “designated” board secretary [BS] (yet another query is “what is the difference between the BS and the CS). Moreover, you find that these BS’s who also happen to be CEO’s in parastatals bring along to the board another operative known as the “board clerk” (BC)… and questions go on and on and on… When, during a session, one of my energetic facilitators makes his oft-repeated line in such

sessions that a CS is not and should not necessarily have a legal background, we get even more bewildered participants. I also love another line by one of my illustrious facilitator, a-dyed-in-the-wool corporate governance specialist who— when covering the CS functions subtopic under the topic “Board Dynamics”—opens himself up and with hands expansively wide he declares with aplomb: A CS is the “gatekeeper of corporate governance within the board and subsequently within that corporation”. I have grown to like that line and I invariably use it may be a bit more often than normal. The CS is an appropriately qualified and experienced individual who ensures that the corporate statutory obligations are met. They are otherwise referred to as: keeper of secrets; every leader’s wise friend and the conscience of the organisation. These governance professionals support and advise public, private and not-for-profit sector boards by helping directors and trustees keep true to their strategic purpose and ensure that they operate successfully within the law. The CSs area of operation needs skills and knowledge beyond that of a lawyer, an accountant, corporate governance or a compliance specialist’s. The best CS’s are valued strategic advisors in a position of influence as they

help their boards to navigate the right path: one that avoids risk, complies with or exceed regulatory standards and remain faithful to the goals and values of the organisation. Advising the chair and acting as a gatekeeper at the same time ensures the CS of a very privileged position The CS’s job can be describe as “all things and more”, operating right at the heart of the boardroom including helping in the recruitment and the orientation of new board members, organizing effective meetings, ensuring a smooth but also secure flow of the information to the right people and, if needed to, keeping as well as retrieving records. They are the central cog in organizing important events such as AGMs, handling IPOs, overseeing corporate mergers and winding up subsidiaries. The most successful and influential CSs combine attention to regulatory and legislative requirements with the raising of the board governance awareness (which goes beyond compliance). They have the skills and resilience to create the right framework for good governance and enable the board behaviors required to achieve it. CS’s are expected to manage relationships in the boardroom dynamics as they are knowledgeable about their organization context including the range of governance and compliance issues that need to

be addressed. Company secretaries work across all sectors in a range of different organisations: private companies, the public sector and the not-for-profit (charities & professional bodies). Some work in-house. Others work for professional services firms or run own businesses as sole practitioners or partnerships, providing a range of clients with company secretarial services for a fee. Moreover, some CS’s could exploit opportunities to become heads of governance, legal counsels or work in roles with responsibilities for risk and compliance in their organizations. Company secretaries need to continually develop these so called soft skills and their ability to shape them influence and lead the work of the board, which gives them the edge. This is where professional Institutes such as the IoDT and ICSA have a role to play. It is a new but positive beginning for ICSA Tanzania and plans and discussions are already in place for a framework of cooperation with the IoDT. We join ICSA in the auspicious occasion of their launch, wish the Institute and the CS profession in Tanzania all the best in mutually transforming the corporate governance profession in Tanzania to “build trust through governance” for “better boards, better business and better Tanzania!”

Book Review

Work Simply By Carson Tate Make work simple by using the tools and tactics that are right for you your time is under attack. You just can’t get enough done. You find yourself wondering where the hours go. You’ve tried every timemanagement system you can get your hands on—and they’ve only succeeded in making your work more complicated. Sound familiar? If you sometimes feel you spend more time managing your productivity than doing actual work, it’s time for a change. In Work Simply, renowned productivity expert Carson Tate offers a step-bystep guide to making work simple again by using the style that works best for you. Tate has helped thousands of men and women better manage their time and become more productive. Her success owes partly to the realization that most of us fit into one of four distinct productivity styles: Arrangers, who think about their projects in terms of the people involved;Prioritizers, who are the definition of “goal-oriented”; Visualizers, who possess a unique ability to comprehend the big picture; and Planners, who live for the details. In this book, you’ll learn How to identify your own productivity style as well as the styles of those around you—bosses, co-workers, staff, and family. How to select your “tools of the trade” to maximize your effectiveness, from the style of pen you use to the way you decorate your office.

Smarter: The New Science of Building Brain Power

The Rules of Management By Richard Templar

Can you make yourself, your kids, and your parents smarter?

Some people seem to be naturally great managers. They glide effortlessly onwards and upwards through all the politics, the system, the people problems, the impossible targets, the work overload and all the nonsense that goes on. They say the right thing; do the right thing and know how to handle every situation. Is there something they do that we don’t? Is it a natural ability or something we could all learn? Is there a secret to managerial success? Yes...and all is revealed in The Rules of Management. These rules cover how you relate to people and how you conduct yourself. They underpin all of your behaviour and your actions. This is the audio programme for you if you want to be successful and still be able to live with yourself, sleep nights and be regarded as a thoroughly nice person by your team, your colleagues and your boss. The Rules of Management is entertaining and informative. This is a practical audio CD with lots of good advice, common sense, workable tips and hints to make your managerial life smooth and effective.

Expanding upon one of the mostread New York Times Magazine features of 2012, Smarter penetrates the hot new field of intelligence research to reveal what researchers call a revolution in human intellectual abilities. Shattering decades of dogma, scientists began publishing studies in 2008 showing that “fluid intelligence”—the ability to learn, solve novel problems, and get to the heart of things—can be increased through training. But is it all just hype? With vivid stories of lives transformed, science journalist Dan Hurley delivers practical findings for people of every age and ability. Along the way, he narrates with acidtongued with his experiences as a human guinea pig, road-testing commercial brain-training programs, learning to play the Renaissance lute, getting physically fit, and even undergoing transcranial directcurrent stimulation. Smarter speaks to the audience that made bestsellers out of Train Your Mind, Change Your Brain and Moonwalking with Einstein.

When face-to-face conversations are more effective than e-mails— and vice versa. What it takes to lead the perfect meeting.

For Further information please contact: Maria Brookes, Media relations Manager mbrookes@icsa.org.uk +44 (0) 207612 7071 +44 (0) 7890649143

Furzana Karimjee Head of Advisory at FB Attorneys +255 (22) 2135994/5

Why a messy desk is right for some, but a disaster for others—and how to tell. After reading Work Simply, you’ll come away with a productivity system that truly and fundamentally fits you—and you’ll never feel overwhelmed again.

Seven Wonders The World Heritage Sites of Tanzania By Louise Hoole This beautiful coffee table book about Tanzania will make a valued addition to any book collection and a beautiful gift. Tanzania has seven World Heritage Sites, more than virtually any country in Africa. Four of its sites have entered the global imagination to become some of the most legendary places on our planet: Mount Kilimanjaro, the Serengeti National Park, Ngorongoro Crater & Zanzibar’s Stone Town. The remaining three sites are, on the contrary, little known outside the country and rarely visited by those within it. Mention that you are travelling to the Selous Game Reserve, or the rock art sites of Kondoa, or the ruins of Kilwa Kisiwani and you’re likely to receive little more more than a frown and a quizzical look. Yet the fact that these places are so little known is bizarre when one considers that they are – in order – the earth’s largest game reserve, a unique prehistoric rock art collection, and East Africa’s most important medieval city . . . not just part of Tanzania’s or Africa’s heritage, therefore, but truly part of a global heritage. This gorgeously photographed book celebrates Tanzania’s stunning world heritage sites, examining both their fragile present and precarious future.

Tanzania Society of Women

o much is made over the belief that women usually do not back-up their own kind vis-a-vis the common and well-accepted adage that behind every successful man there is a woman. Perhaps Tanzania society of Women Certified Accountants (TAWCA) was conceived to disprove this entrenched thinking and more importantly to be a catalyst of change in favour of the womankind in Tanzania. TAWCA is an initiative of the National Board of Accountants and Auditors (NBAA) and was registered as a non – profit making organization by the Registrar of Societies at the Ministry of Home Affairs, Tanzania under the Societies Act [CAP. 337 R.E. 2002] on 5th August, 2015 with a Certificate of Registration number S.A. 20210. The association was formerly launched on the 6th October 2015 during a very auspicious ceremony at the Grand Hyatt in Dar es Salaam. The Guest of honour was ….. who officiated on behalf of the deputy permanent secretary of the Ministry of Finance Dr. Servacious Likwelile. TAWCA is governed by its constitution and aims to promote the interests of women Certified Public Accountants (CPAs) in Tanzania through networking, education, leadership and economic activities. To do so it provides a supportive

environment and valuable resources for members to achieve their professional, personal and economic goals. It also promotes aspirants, especially young girls, to become certified accountants by enrolling in the accountancy profession courses offered by the National Board of Accountants and Auditors (NBAA). The association encourages them to explore and attain their personal and professional ambitions. TAWCA members are inspired to show in many ways that professionals, leaders, rising leaders and influencers are making a difference for women in the accounting profession. TAWCAtargets to recruit members from among female Certified Accountants in the categories of Graduate Accountant (GA), Associate and Fellow Certified Public Accountant (ACPA and FCPA), Associate and Fellow Certified Public Accountant in Public Practice (ACPA-PPs and FCPAPP). There will also be Honorary members. TAWCA will also liaise and work with other local and international organizations on matters of mutual interests. TAWCA is looking forward to the support of the public, private and non-governmental organizations in fulfilling its objectives. TAWCA’s Mission “Promotion of women certified accountants in Tanzania and supporting them to attain

their professional, personal and economic goals through networking, education, leadership, economic activities and by increasing a number of women accountants in Tanzania” TAWCA’s Vision Change catalysts and world class women certified accountants. TAWCA’s Motto Touching Lives, women’s mindsets.

changing

Office bearers of TAWCA are: Bahati Ibrahim Geuzye is the TAWCA chairperson; she is a management consultant, researcher and trainer; Neema Kiure-Mssusa is the TAWCA Deputy Chairperson and also a Partner at Ernst & Young (EY) Tanzania; Zainab Salome Msimbe is the TAWCA Secretary and also works as an Associate Director at Pricewaterhousecoopers (PWC); Gloria Gasper is the TAWCA Deputy Secretary and an Accountant at Surface and Marine Transport Regulatory Authority (SUMATRA); Zaina Thabit is TAWCA treasurer and a Principal Internal Auditor at National Social Security Fund (NSSF); Rosaldina Majuva works at the TAWCA Secretariat

For inquiries please write to TAWCA Secretariat, P.O. Box 78752 Dar es Salaam. Email:info@tawca.co.tz or call: Ms. Rose Majuva 0713 299 292/0765299292

MOVEMENTS & NEWSFLASH Laurean R. Bwanakunu

Juma A. Muhimbi

Leonard L. Kisarika

Dr. Kassim Hussein

(MIoDT 0336)

(MIoDT 0009)

( MIoDT 0111)

(MIoDT 0200)

The former AGPAHI Executive

The

Director.Was recently appointed

IMMMA Consultancy Services

Retired on 2014, from Bank of

Our

by the President of the United

Ltd and member of our inaugural

Tanzania (BOT) where his last

Director, also serves on various

Republic of Tanzania to become

CiDir

position was Director of Human

boards including that of the National

the Director General of the

Presidential

Resource and Administration.

Bank of Commerce (NBC), where

Medical

Department

become the board chairman of

He has always been and still a

he also become the Interim Chair of

(MSD). We wish Mr Bwanakunu

the Social Security Regulatory

good ambassador to the IoDT.

the Board. We wish Dr Hussein well

success and trust that he will put

Authority (SSRA).We wish Mr

We wish Mr Kisarika an active

and trust that he will put all his great

all his exemplary qualities, skills

Muhimbi success and trust that

retirement benefiting his active

and outstanding qualities, skills and

and knowledge (including CiDir

he will put all his qualities, skills

nature and all the best in his life

knowledge to drive NBC forward!

training) to most effective use at

and knowledge (including CiDir

the MSD.

training) to most effective use at

Store

Managing

class,

Director

received

appointment

a to

Facilitator

and

certified

endeavors.

both IMMMA and SSRA.

Prof Isaya J. Jairo

Alinanuswe Nsyani Ngala

Dunstan Kaijage

Julius Charles Mcharo

(MIoDT 0022)

(MIoDT0131)

(MIoDT0060)

(MIoDT 0070)

The former Deputy Director of Planning, Finance and Administration of the Institute of Finance Management (IFM), was appointed by the President of United Republic of Tanzania to become Rector of the Institute of Tax Administration (ITA) in July 2014. Soon afterward, Professor Jairo received another Presidential appointment to become the Chairman of the board of governors of the National Board of Accountants and Auditors (NBAA). We wish Professor Jairo every success and trust that he will put all his outstanding qualities, skills and knowledge (including CiDir training) at both ITA and NBAA.

He worked as senior accountant at Rubada but has shifted to Joint

Finance

Commission

since august 2014 as Finance Management Officer. We wish Mr Ngala all the success and believe that he will put all his remarkable qualities, skills and knowledge

(including

CiDir

training) to most effective use at the Joint Finance Commission.

with

The former Head of Treasury &

Agricultural non State Actors

Acting Chief Executive Officer has

Forum (ANSAF) until June 2015,

since been confirmed to that position

is now the Cashewnut Board of

at Commercial Bank of Africa (T)

Tanzania (CBT) newest Director

Limited with effect from April 2015.

of Finance and Administration

He is also the Board Member of the

(DFA). We wish Mr Kaijage all

Institute of Directors in Tanzania

the best and trust that he will

(IoDT). Congratulations to

put all his outstanding skills

Mcharo on his new professional

and knowledge (including CiDir

challenges which we trust he will

training) to most effective use at

overcome through his excellent

the CBT.

qualities,

The

former

Accountant

skills

and

(including CiDir training)

knowledge to most

effective use at Commercial Bank of Africa.

Continues from Last Issue page No.20 George K. Kasinga (MIoDT 0350)

TESTIMONIALS

“I urge all board members and senior management team from both public and private institutions to attend this course so as to enhance their understanding of Good corporate governance”.

Dr Primus Dias Nkwera – NACTE Executive Secretary and HESLB Board Member (MIoDT 0246)

Stella-Emma Katende is the Finance and Administration Manager for Social Action Trust Fund. A graduate from the University of Dar Es Salaam with B.Comm,( Hons) in Accounting, Ms Katende is also a CPA (T) and holds an MBA (Corporate Governance) from ESAMI. Her imprints of experience include that in Financial Management, Auditing, Administration, Human Resource Management and Philanthropic Programs Management, marked from her stint with both Private and Government sectors. She is a Certified Member of IoDT and holds deep and long-term interests in Governance, Ethics and Philanthropy matters.

Dr Frederick S. Ringo – Director General Fair Competition Commission (MIoDT 0283)

“This course has widened my scope and opened new horizons on matters related to the role of the board and responsibilities of directors. In my opinion the course is also useful to CEOs.

“I found the sessions very interactive and the case studies very informative in illustrating issues and challenges facing corporate governance in Tanzania”. Dr Sarah Matemu-AGPAHI (MIoDT 0309)

Prof. Salome B. Misana Associate Professor-UDSM (MIoDT 0126) “The CiDir course has been another significant milestone to affirm my professional career growth. The secret is to make it mandatory for directors of all boards to be enlighten them about the essence of good governance”.

“I believe that the initiative taken by the IoDT to address gaps in the existing systems will in time improve corporate governance practice for many organizations in Tanzania leading to good corporate governance”.would advise those who are serious about corporate governance to join the wagon”.

Dr Veronica Robert Nyahende – HESLB (MIoDT 0282)

Dr Suleiman Rashid Mohamed – UTT-AMIS Board member (MIoDT 0218)

“I suggest this kind of training to be considered as mandatory to all directors from both public and private sector in the country”.

“I have heard about the IoDT for some time. I have now experienced what they do. I can categorically say that the IoDT are doing a noble assignment for our nation. I am privileged to attend the course and I would advise those who are serious about corporate governance to join the wagon”.

Daniel Methus Chumu-Bollore (MIoDT 0077)

Mkunde Senyagwa Mushi-AICC (MIoDT 0313)

“This is a value adding session that I have ever attended in corporate governance. I am looking forward to sit in a board so that I can be able to apply and share my skills and experience acquired from this advanced and professional training”.

“A very useful and necessary course for all directors in the country to enhance good corporate governance. The institute should be formalized to become an authority which can guide and regulate boards”.

Bakari

Ramadhan Thabit Saidi-Effco(pty) Ltd (MIoDT 0087)

“This is a must do course and in my opinion it can be set as prerequisite for someone to serve as board member”.

“I found the course to be very interesting. I have learned and understood very well the corporate governance concept. The resource persons in this course were all very competent and very knowledgeable indeed”.

Dr. Jabir Kuwe -E-Governance- CEO (MIoDT 0324)

WHY IS SUSTAINABILITY IMPORTANT IN THE CORPORATE GOVERNANCE

Dr Frederick A. Mwakibinga – PSPTB(MIoDT 0135)

Reginald Massawe-African Microfinance Ltd-CEO (MIoDT 0186)

The CiDir course has been another significant milestone to affirm my professional career growth. The secret is to make it mandatory for directors of all boards to be enlighten them about the essence of good governance”.

“I have learnt a lot of new concepts and I believe it will go a long way in improving the corporate governance in the boards which I sit”.

3.0 SUSTAINABILITY ITS DIMENSIONS

AND

3.1 The need to sustain, endure, survive and continue to exist for the entity is apparent. Understandably, while human beings eventually expireoff, entities, presumably, are able and can operate for the foreseeable future. Companies are looked at as going-concerns and many 100 years-old ones are a common sight, especially in Europe and America. This entity’s longevity partly represents sustainability although it is debatable whether it is a 3-D sustainability.

1 2 3 4 5

Company Name

Year of Establishment

Years in Business

Exxon Mobil Corporation CitiGroup Inc. Colgate Palmolive Co. Target Corp. Walgreen Co.

1870 1812 1806 1902 1901

145 203 209 113 114

In the Local context, we also have some companies, mostly owned privately, that have stood the taste of time. With nationhood, majority of Tanzanian entities were publicowned enterprises. For various reasons, governance issues included, majority of them have not survived.

The need to sustain, endure, survive and continue to exist for the entity is apparent. Understandably, while human beings eventually expireoff, entities, presumably, are able and can operate for the foreseeable future. Companies are looked at as going-concerns and many 100 years-old ones are a common sight, especially in Europe and America.

Figure 3.1 (b) Some Tanzanian based Companies with 10+ years in business

1 2 3 4 5

Company Name TANESCO TTCL Mwananchi Communications Tanzania Cigarette Company Kearsley Travel and Tours Company

Year of Establishment 1964 1994 2001 1961 1948

Years in Business 51 21 14 54 67

Source: Compiled from various internet sources

3.2 Sustainability depends on deliberate corporate measures and designs which are successfully implemented. It does not happen accidentally. One of the ways to ensure that entities endure or sustain is by

laying a and covering an entity with a a good Corporate Governance ‘tent’, whose pillars we have just examined. Sustainability is far from business–as-usual attitude or operating at a comfort zone. It is, rather, conducting an entity in a better business model which

is characterised by using less, reducing waste, becoming more efficient, and thinking longer term. If businesses could do this, whilst meeting the needs of customers and other stakeholders, then their chance of survival and prosperity is greater (Humphrey, 2013)

the environment/planet. Ostensibly, Planet Sustainability considerations should come naturally and not be imposed. An act of an entity abusing the environment is akin to it cutting the branch which it is sitting on. It equals betrayal to a kind, understanding and nonjudgmental host.

Figure 3.3 Triple Bottom Line So, is sustainability at corporate level to do with the profit taken into the entity’s reserve? Or its ability to pay taxes? Or rather its ability to maintain a large amount of workforce? Before attempting to explain that let’s acknowledge the essence of an entity’s bottom-line. This is in the quest to deduce whether the sustainability that we see in Companies and entities that we know is 3-D or just the traditional Single Bottom Line. 3.3 Bottom line as a notion has deep financial roots. It denotes the figure that features as the last line in an entity’s Financial Statements and particularly, the Income Statement (also known as Profit and Loss Account). To add glory to this figure, it is even underlined twice! To the shareholders, this figure 3.4.1 Profit – Economic Performance This is crucial for survival. It is the centerpiece for the shareholder as this is where their return on investment emanates from: ‘Economic–matters’. However, Profit alone does not guarantee sustainability in the long run. It should go along with a reflection to People and the Planet, considering that businesses are operating in an ecosystem of some kind. 3.4.2 People–Social Performance As we allude more to the fact that corporates are ‘citizens’ just as natural persons are , it follows that corporates must be social-alert. For them to be sustainable, the social relationship must be healthy just as is the economic bottom

4.0

was either a comforter or a blow. For a long time, it was the near ‘adorable and most sought’ figure for many and it could equally spark applause or blame befitting its size and “mathematical” sign! However, with paradigm shifts and the 21st century seachange in the corporate sector, the bottom-line is now not the only thing that matters in measuring stellar performances or success of Corporates. Other line. Adequate compensation to staff, conducive working environment for staff/employees to love their work and remain loyal is one aspect under People Sustainability. The concern for the community that surrounds the entity is key. This can be achieved through designing and carrying out realistic CSR programs for and involving the Community as well as creating employment opportunities for the same. A Community that feels embraced by the business entity ensures a source of invaluable loyalty and support to the former. There is every reason for Corporates to be reasonably interwoven in its People (human resource) and the Community.

considerations have become important, such as People and also the Planet ushering the famous Triple Bottom Line Concept which I also refer to as the 3-D mode of Sustainability. It is not surprising that, an entity registering huge profits might not necessarily be a 3-D-Sustainable entity as it might have zero or minimal consideration on People and the Planet at large. After all, the consumers of the entities’ products are found in the Community. It is by no surprise that, a satisfied customer is a loyal customer. There is this local example that a good number of people in Tanzania refer to every petrol station as a ‘Shelli’, which probably underlines how entrenched to Tanzanian customers, at some point, was the Shell (Dutch) brand. 3.4.3 Planet-Environment Performance Taking care of the planet should be at the core of a 3-D Sustainability sensitive entity. The business operations for any entity carry depend a lot on nature and all its resources. For instance, if an entity does not care about its industrial refuse and dumps it into the rivers that is tantamount to operate at a profit/ successfully while shortchanging

SUMMING IT ALL UP

From all the talk that we have had, it is undeniable that good Governance feeds on Sustainability and viceversa. Other benefits of Good Governance include: • Status – Entities which practice good governance earn a coveted status in the business ecosystem. Reputation is always desirable. Importantly (especially for accountant’s and shareholders) this beefs up the goodwill. • Value enhancement/Growth – Companies with strong Boards and Management are mostly sought after by both investors and staff. Such companies will command respect in Stock Exchanges in value terms. • Innovation & Trend-setting – Due to competition and need to excel, any properly governed entity will strive to be a trend-setter in innovation for efficiency purposes • Preventive benefits – Good corporate governance helps to prevent corporate scandals, fraud, and potential civil and criminal liability of the organization which is a good for the business. (Shodhganga, 2008) • A balanced Planet – Businesses have to co-exist. Good corporate governance practices across entities mean happy customers, satisfied staff, safeenvironment and a much better world!

Source: http://www.srpska-mreza.com/

Figure 3.4.3 A pictorial presentation of an entity that does not consider Environmental/Planet sustainability 5.0 CONCLUSION AND GENERAL PROPOSAL Proper corporate governance or lack of it can be established by looking at the extent and quality of the entity’s life i.e., its sustainability. Lack of sustainability means improper corporate governance which in the long run impacts on the survival of entities and unless there is a framework of directing and controlling them. A dying entity probably points at sustainability issues and accordingly and possibly corporate governance glitches. It is a vicious circle of some sort. A 360o view with focus on proper staffing, use of appropriate technology, compliance issues to industry and other regulators requirements, innovation, appropriate stewardship, objective Board appointments is extremely important to company performances. ‘The Fish rots from the head’, the old saying goes. With proper boards in place, management is properly supervised and ceteris paribus, entities operations will be run accordingly to ensure the 3-D sustainability.

Sustainability is therefore very much in need as the thermometer for good corporate governance temperature. These two are simply inseparable! REFERENCES 1. Institute of Directors in South Africa, (2009), King’s Code of Governance Principles for South Africa 2. Anthony, W., Kacmar, K. and Perrewe, P. (2006), Human Resource Management, A Strategic Approach, pp45 3. Elkington J.B (1997), Cannibals with forks: The triple bottom line of 21st Century business, Chapter 4. Hooper D (2013), The Difference between ‘Responsibility ‘and ‘Accountability’, Savannah Business Journal 5. Introduction to Corporate Governance, downloaded through http:// shodhganga.inflibnet.ac.in/ bitstream/10603/1558/10/10_ chapter1.pdf 6. Cadbury 1992 report extracted from http://www.cadbury.jbs. cam.ac.uk/index.html 7. Adopting Sustainability to Drive Business Improvements, downloaded through http:// www.is4profit.com/businessadvice/green-business/ adopting-sustainability-drivebusiness-improvement-1what-is-sustainability.html

End of an Era: Sir Adrian Cadbury: Pioneer of good practice in corporate governance Olympics, he was a member of Britain’s coxless fours (rowing) team which came finishing fourth. He described that as greatest thing to ever happen to him.

Sir-Adrian-Cadbury

drian Cadbury, former chairman of Cadbury Schweppes and a leader in the field of best practices in corporate governance died aged 86on September 3 in Birmingham, England. Chairman from 1974 to 1989 of Cadbury Schweppes, the Britainbased food and beverage company, Sir Cadbury was best known for heading the Committee on the Financial Aspects of Corporate Governance – charged with investigating the British corporate governance system and restoring investors’ confidence in the system – from 1991 to 1995. The Cadbury Report and the Cadbury Code has made a significant impact on corporate governance reform all over the world. It has enjoyed a special status by being made the reference when formulating policies and rules on corporate governance. It is understood that the Cadbury Code has been adapted or adopted in over 100 countries (within the European Union, the United States, the World Bank, Australia, India, Brazil, China and Germany) Sir Adrian was born in Birmingham in 1929. His grandfather, George Cadbury built the factory and Bourneville model factory village and founded the Cadbury chocolate empire. He was educated at Eton, served in Coldstream Guards (National Service) and took Economics at King’s College, Cambridge. At the 1952 Helsinki

Knighted in 1977, he had a business career spanning six decades of senior roles atCadbury Schweppes,as a directorthe Bank of England – in the footsteps of his father, the Confederation of British Industry (CBI), IBM UK and Chancellor of Aston University in Birmingham. He was thechair at ProNed (1984 to 1995), which promoted the appointment of nonexecutive directors. Despite privileged upbringing, softly-spoken and principled Cadbury –– strived to run the workplace on merit and made “difficult decisions”, including passing over family members for senior executive positions. The Cadbury Committee was formed in May 1991 by the Financial Reporting Council, the London Stock Exchange and the accountancy profession to address the financial aspects of corporate governance. The sponsors were concerned with a perceived low level of confidence both in financial reporting and in the ability of auditors to provide the safeguards which the users of company reports sought and expected.The report was based on recommendations from practical experiences as well the US experience plus widely accepted consultations. There was a lack of a clear framework to ensure that directors focused on the controls in their business. There was also an alarming laxity in accounting standards and competitive pressures on companies and auditors, impacting on the auditors’ability to deal with overbearing boards. The situation was further worsened by questionable reputation in the 1980’s boom, high-profile scandals, collapses of major companies and the lack of effective board accountability for such matters

as directors’ pay, which as per Sir Adrian “reflects a climate of opinion which accepts that changes are needed.” Some of the committee’s ToR was to recommend best practices on financial reporting and accountability; look at directors’ responsibilities for reviewing and reporting performance; the frequency, clarity and form in which information should be provided; the case for audit committees; the principal responsibilities of auditors, and the extent and value of the audit; and, the link between shareholders, boards and auditors. The 90-page Report titled “Financial Aspects of Corporate Governance” was published as a draft version in May 1992. It consists of 20 recommendations and a Code of Best Practice on the structure, responsibilities of corporate boards of directors and accounting systems to mitigate corporate governance risks and failures. It became and remains the cornerstone of corporate governance and what are generally accepted as proper corporate-structure rules in the UK and further afield. Aiming at increasing the openness and transparency of UK firms, the Report’s recommendations were ultimately incorporated into the Listing Rules of the London Stock Exchange. The Report advocated: a clear division of responsibilities at the head of a company so that no one individual had too much power, although it stopped short of mandatory separation of chairman and chief executive; sufficiently independent and high calibre non-executive directors plus full and clear disclosure of directors’ remuneration. It also recommended for independent non-executive directors of sufficient calibre and number to carry significant weight in a public company’s decisions, with clear disclosure of directors’ emoluments. Companies were invited either to comply or to explain

to their shareholders on the recommendations of the code of best practice. Cadbury was modest about its impact. “Codes will not catch rogues,” he remarked. “We cannot be a corporate nanny.” It stated its belief that a “voluntary code coupled with disclosure will prove more effective than a statutory code”. As the Chairman of the Committee, Sir Adrian—inevitably—became the face and voice of the committee causing the widely-accepted reference of “Cadbury Committee”. The report too is famously referred to as the Cadbury Report. RECOMMENDATIONS IN BRIEF - The listed companies reporting in respect of years ending on or after 31 December, 1992, should make a statement about their compliance with the code in the report and accounts and give reasons for any areas of non-compliance. - Companies should publish their statement of compliance only after they have been the subject of review by the auditors. - The Auditing Practices Board should consider the extent and form that an endorsement by the auditors could take. ROLE OF THE CHAIR The chairman’s role in securing good corporate governance is crucial. ØThe Chair is primarily responsible for: - The working of the board and balance of membership as per the required approval, - Ensuring that all relevant issues are on the agenda, and - Ensuring that directors, executive and non-executive alike, are enabled and encouraged to play their part in its activities. Ø Chairmen to disengage from the day-to-day running of the business so that boards are in full control of the company’s affairs and alert to the obligations to their shareholders. Ø Chairmen to ensure that non-

executive directors receive timely, relevant and specialized information and sufficient briefings of issues arising at meetings to be effective members. Ø Due to its importance and nature,the chairman’s role should, in principle, be separate from that of the chief executive because their fusion could representundueand singular power concentration. The Commission recommended, therefore, for a clear division of responsibilities at the head of a company to ensure a balance of power and authority and balanceoff unwarranted concentration of powers of decision on an individual. A chief executive officer was to be dissuaded from also serving as chairman because “he or she would focus the board’s attention on short-term results rather than longrange planning”. Sir Adrian wrote that the company should revolve around the board, which under the guidance of the chairman should establish priorities and values and see that the executives put them into practice. Sir Adrian himself was endeared to corporate governance, becoming an advocate while giving talks at conferences and meeting people to increase awareness and spur changes for the better. As per the Cambridge Judge Business School Website, “The Cadbury Report initiated a revolution in corporate governance thinking that has been adopted by countries and institutions across the world”. Specifically, the business school is of the opinion that the one big change brought about by the report was the widespread acceptance of the principle that a person shouldn’t be both the chief executive and chairman of a listed company. That Sir Adrian Cadbury’s 1992 report on corporate governance is still recognised around the world as the starting point on how companies should be managed is no surprise. It bore his hallmarks – clarity of analysis, attention to detail, moral certainty and an expectation that people will behave well if properly

encouraged – which marked out an exceptional business career which turned a family chocolate business into a worldwide empire. Cadbury had set himself publicly against compulsion, arguing that making the existing system work better could be done more quickly andwould set people’s sights higher than regulation. “We should try to establish a set of standards and structure that will give the best protection against the wayward, but there is no absolute protection. That’s part of life.” After retirement, he wrote and spoke extensively on corporate governance and devoted much attention to Aston University A decade on, in Corporate Governance and Chairmanship – a Personal View (2002), he lamented the way that trust in business had continued to be eroded and set out his own advice on running a company. He was recognised as a man not afraid of difficult choices. “Shelving hard decisions”, he said, “is the least ethical course.” The same clarity was applied to the family tradition of corporate social responsibility. “You should not feel you should do something because of pressures from outside. You should be absolutely clear that this will be a benefit to the company as well.” He refused to pull Cadbury’s out of South Africa during apartheid, insisting that its operations were a benefit to its employees and argued with Friends of the Earth on environmental grounds over Schweppes’s switch away from reusable bottles. His own non-executive posts were few but remarkably long-lasting. His report suggested that nonexecutives should be appointed for specific terms with reappointment not automatic. But he remained a director of the Bank of England for 24 years and of IBM for 19. He was chancellor of Aston University from 1979 to 2004. Cadbury’s first wife, Gillian (nee Skepper), whom he married in 1956, died in 1992. They had two sons and a daughter. He married a family friend, Susan Sinclair, in 1994; she died in 2010

IN THE

LECTURE ROOM

Facilitating CG skills - Applying Experiential Learning (EL) Methodology in Directorship Training

reciprocate that with the benefits they have to earn. To ensure valuable trade-off, I make time and effort to understand them from individual standpoint, know their expectations and therefore be in a position to respond not only to their expectations but also match that to the requisites of the knowledge base acceptable for the IoDT’s director accreditation. A quick survey of areas of focus for each complements their training needs assessment (TNA) that went in the programme design. Knowledge of my participants comes in handy in the session design, areas of focus, selection of examples and case studies. While focusing on making the learning as fun as it can possibly be, I also make efforts to cut down any time wastage by ensuring nothing substandard creeps into the course and its delivery.

he concept of experiential learning (EL) explores the cyclical pattern of all learning from Experience through Reflective Observation on to Abstract Conceptualizing to Action Experimentation on to further Experience. Relating to Directors first-hand experience as a learning process is therefore an interesting facilitation concept that we have tried to apply in Certificate of Directorship programme. Bringing learners skills, knowledge, and experience from our participants and facilitating its sharing have proven to be some of the strong points in the programmes which I have facilitated. By utilizing lively relevant case (mostly local) case studies, role-plays, metaphorical fables, stimulating anecdotal proofs plus other forms of mental engagement, I have managed to sustain participants’ interest in the topics, material and the programmes and thereby attain peak involvement and very effective learning. It is every facilitator’s challenge to ensure an almost “total” and meaningful participation from each participant as well as provide opportunities for them to reflect on

By Dr. Kassim Hussein

the lessons in their entirety and also points of learning within the topics. The facilitator also has to offer opportunities through groups discussions, which is an important learning tool. From my training experience, I have come to learn that it is only through intensive preparation that a facilitator can apply the EL methodology. The experience is targeted at the participant’s whole person i.e., senses, personality and emotions. After about four decades of higher institution teaching, I have slowly migrated from sole cognitive dissonance to EL. The later focuses on personal participation, learner’s self-initiated focus, learner-evaluated learning, and well-known effects on learner. It is about personal change and growth by the learner. My role since the inception of IoDT is to facilitate learning of board of directors and I have used EL to a lot of success in learning processes. Foremost, I acknowledge the fact that my participants’ lead a busy professional life plus the fact that they have made heavy sacrifices, in terms of their time and financial resources, to attend the programme. It is therefore on top of my agenda for me to

My immediate concern is to establish rapport, whip up interest and set a positive climate for each participant’s as well as group’s learning. When I make people feel safe to express themselves, feel free to explore, contribute, question and present own views. This helps to establish interactive sessions. I then clarify learning objectives and the plan to achieve it by proposing a draft outline and inviting participants to enrich it. Furthermore, I present the available learning resources. In terms of technique, there is a need to balance intellectual and emotional components of learning. I endeavour to make participants take charge of the learning process, steer its nature and direction while instilling responsibility of their role to support each other in group activities and in the plenary within the confines of the IoDT curricula. Various Roles of a Facilitator and its Different Facets Our programme attendance is diverse in the manner of participants’ professions, roles, competence, gender, age, positions and rank. This means that the participants’ expectations are surely varied. The participants therefore exhibit specific perception and expectation on the facilitator such as Group Leader, Process/ Agenda Manager, Content Expert, Role Model and a Consultant. Indeed these could be said to be common roles of a facilitator and

perhaps should define a quality facilitator from an average one. Group Leader The facilitator as a group leader models and applies himself to appropriate communication skills such as effective listening, paraphrasing and summarizing for others to follow. This ensures a safe and conducive learning environment for all learners at all the times. As a leader, I help learners relate and apply content or discussions to their role as directors and confirm so through complete feedback during discussions and activities. In most events, the participants expect an action plan or resolution as an end result. As an appropriate response, I often take the session through a process at the end of which we have a basis for a respective board charter, a relevant code of ethics document or a self-evaluation tool. I could cite quite a number of interesting encounters where participants have ended up deliberating whether the chair should also seat in the board, whether to co-opt an accountant as an audit committee member and on how to strategize an increase in accountability and transparency. Process Manager The participants may seemingly expect their facilitator to also function as the moderator as well maintaining the focus on the theme, keeping the time and observing effective time allocation for designated content. Keeping discussion on track and keeping time—whether during break-ups or plenary sessions—is a real challenge because “interesting discussions” as well as “burning issues” constant threaten group work. In keeping with the spirit of good corporate governance (which also means “self-governance”) plus “directors’ responsibility” we sometimes vest this role to a group/ session/course timekeeper. I try to keep time by starting on time and finishing on time but on instances when I foresee unavoidable time overruns, I try to negotiate some time buffer in advance. Content Expert Here the facilitator is designated an expert and/or an authority/ reference in the respective field. From time to time participants seek a facilitator’s expert and indepth knowledge in corporate governance “technicalities” once

they have observed how the facilitator adeptly shares valuable (and probably fresh) knowledge. One therefore receives questions such as “what does the Kings’ Code 1, 11 or 111 says on a soand-so aspect” or “what is your opinion on the clause so-andso of the Company Act”. Due to such a scenario, having reference documents such as the King’s Code or respective legislation in one’s computer could prove important and useful for the facilitator to project the material and scroll while making requisite clarifications in class. Furthermore, participants demands for facilitator’s opinion on certain incidences or issues enhances the latter’s credibility, if responded to at length and in a convincing manner. An experienced facilitator finds opportunity to rebound such questions to the group. Often, members’ varied background, profession, competence and experience come into play here and their responses prove invaluable and may sufficiently address the doubts and remove grey areas—our participants are generally a diverse group in terms of experience, professions, competence etc. My own varied exposure, experience and active board service helps me steer the conversation and share the knowhow. I cannot emphasize more the need for facilitators to have, apart from other relevant competencies, immense board experience of serving on boards. The participants also expect their “expert” facilitator to use appropriate corporate governance parlance. Moreover, the facilitator has to accurately represent expertise in the field and be ready to share relevant knowledge. A case in point is when issues of specific International Financial Reporting Standards are raised during the review of financial statements. Reviewing the coverage, reading more and looking for current examples helps to enrich such quest. The facilitator should be carefully to stay grounded and resist being carried away by the participants’ notions of “his expertise”. Once in a while, he should be prepared to factually declare to the participants that “he doesn’t have a ready answer” and request for an opportunity to establish independent facts

before addressing raised doubts/ concerns. In fact, I do believe that a facilitator who willingly admits “ignorance” on some issue raises instantly his integrity in the eyes of the participants. Role Model and Consultant From the foregoing, CiDir participants also cannot help but view the facilitator as a role model and a consultant in corporate governance. Perhaps my manner of handling the work and interaction makes them eager for my profile and/or CV. Over time, I have experienced numerous questions and interest on my person, professionally. Maintaining positive, professional demeanour and practice is therefore important. During training, participants also seek solutions to various challenges. While it is tempting to jump in, I normally take time to understand the issue, collect relevant facts and help to facilitate alternatives solution(s) so that the participants may evaluate. Sharing the problems to the entire group often generates practical alternatives from the group members. Applying EL with directors has had its own tests. Some participants happen to be trainers in their own right. A good number of board members and participants are professors and/or are well-trained trained in different fields. We have had vice chancellors, deans of faculties, other facilitators and consultants, as participants to the CiDir. Most of them acknowledge EL’s great impact in the learning process. As they participate, they also automatically evaluate the facilitator’s delivery, methods and methodology. Developing cases from real incidences and group tasks is an undertaking that takes time. You get satisfied when it pays and that continuously motivates me to learn more on EL and how to apply it in the IoDT programmes. I feel privileged for my past, present and future involvement in the Director Certification project by the IoDT. Indeed, applying EL is one way of being consistent with the IoDT’s slogan which keeps reminding us that by having better directors, we will ensure “Better Boards, Better Business and Better Tanzania”.

LIST OF CERTIFIED DIRECTORS

he Institute of Directors in Tanzania (IoDT) champions effective corporate governance and best business practices. It facilitates directors’ professional development. And also enhances directors’ effectiveness through capacity-building, networking, information-sharing and highlighting their legal, moral, ethical, financial and other responsibilities.

On daily basis, Tanzanians engage their attorneys, airline pilots and even hairdressers on the basis of their established professional qualifications. Surprisingly, then scarcely demand the directors of (public) corporations, some of whom have not attended specialized board leadership training. Considering the evolution of the director’s role which is now more professional, demanding and multi-dimensional – with more risks and heavy potential liabilities – it is the right time to consider professional training and qualifications for the Tanzanian director, especially from the IoDT.

The Director Certificate exhibits, to shareholders and other stakeholders, the Tanzanian director’s effective understanding, respective ability plus commitment to and practice of world-class governance. The certification in directorship is a specific curriculum plus examination whose attainment proves the expectation that the certified director will exercise best skills, care and diligence in their governance roles while observing paramount ethical standards based on utmost personal integrity and accountability. Certified and paid-up IoDT members keep also themselves current with continual and critical up skilling. They also earn the use of the accolade “Member of the IoDT (MIoDT). The IoDT presents hereunder the current list of trained and qualified MEMBER directors for the period -AUGUST -SEPTEMBER 2015 With Sponsoring Institutions):

REG NO.

Pestguard Ltd.

AGPAHI LAUREAN R. BWANAKUNU

ALFRED OGONDA MIoDT0336

Arusha International Conference Centre (AICC) SAVO S. MUNG’ONG’O

HAJI ALI ISSA MIoDT 0341 MIoDT 0340

Fair Competition Commission (FCC) PROF. SAMUEL WANGWE

MIoDT0337

Sugar Board of Tanzania (SBT)

Babati-UWSSA ENG. IDDY YAZIDI MSUYA

MIoDT 0360

Self-Sponsored

MIoDT 0345

Government Chemist Laboratory Agency (GCLA)

JONAS FUTE

MIoDT 0349

DR. ASHURA LUZI-KIHUPI

MIoDT0352

GEORGE MANDEPO

MIoDT 0358

SIAMA SONGAMBELE

MIoDT 0363

TIB Corporate Finance

GEORGE K. KASINGA

MIoDT 0350

EDWARD S. LYIMO,

MIoDT 0339

DANIEL Z. MTATA

MIoDT 0353

MWALLU S. MWACHANG’A,

MIoDT 0342

SABANITHO L. MTEGA

MIoDT 0356

KAROLI B. SHAYO

MIoDT 0347

GLORIA C. OMARI

MIoDT 0361

TIB-Development Bank BRYSON E. MWANGA

Kiliwater Co. Ltd PROSPER VICTOR KESSY

AUGUSTINO MBOGELLA

Maryland Global Initiative Tanzania (MGIT) DR. SEKELA MWAKYUSA,

DR. LEMAYON L. MELYOKI IPYANA L. MWAKIPESILE

MIoDT 0343

WISCON Associates

MIoDT 0348

WITNESS SHILEKIRWA

Mzinga Corporation BUYAMBA M. KASSAJA

MIoDT 0355

Wiscon Associates

MIoDT 0346

Mbeya Zonal Referral Hospital DR. MPOKI M. ULISUBISYA

MIoDT 0354

UDSM-BS

MIoDT 0344

Mzumbe University (MU) MWANJAA S. LYEZIA

MIoDT 0359

UTT-Microfinance

MIoDT 0338

MIoDT 0351

MIoDT 0362

JOKES Taxi 3 drunk guys enter a taxi The taxi driver sees that they are drunk so he starts the engine& turns it off again, He tell them. “Here we are!” The first guy gives him money, the 2nd guy says “thank you”. The 3rd guy slaps the driver. Shocked the driver believes that the 3rd drunk has found what he did. He asks “what’s that for?”. The 3rd guy replies: “control your speed next time, you nearly killed us!”… Interview During a job interview the interviewer asks: Employer: “How long did you work during your last job”. Candidate: 30 years Employer: what’s your age? Candidate: 20 years. Surprised the employer and asks the candidate how could that be possible to be 20 and yet have an experience of 30 years Candidate: overtime A Lawyer A lawyer was just waking up from anesthesia after surgery, and his wife was sitting by his side. His eyes fluttered open and he said “You’re beautiful!” and then fell asleep again. His wife had never heard him say that so she stayed by his side. A couple of minutes later, his eyes fluttered open and he said “You’re cute!” Well, the wife was disappointed because instead of “beautiful,” it was “cute.” She asked, “What happened to ‘beautiful’?” His reply was “The drugs are wearing off!” Brains An alien walked into a shop and told the owner that he is from Mars and wanted to buy a brain for research. Alien: ‘’How much is this one?’’ Owner: ‘’That one is a monkey brain, and it’s $20,’’. Alien: ‘’How much is that one?’’ Owner: “That one is a female brain, and it’s $100,’’.

Alien: ‘’And how much is that one?’’. Owner: ‘’That one is a male’s brain and it is $500’’. Alien: ‘’Why so expensive?’’. Owner: ‘’Well, it’s hardly been used!’’. Accountants Why did God invent economists? So accountants could have someone to laugh at. Why accountants don’t read novels? Because the only numbers in them are page numbers Fair Competition A shopkeeper was dismayed when a brand new business much like his own opened up next door and erected a huge sign which read ‘BEST DEALS.’ He was horrified when another competitor opened up next door on his right, and announced its arrival with an even larger sign, reading ‘LOWEST PRICES.’ The shopkeeper panicked, until he got an idea. He erected the biggest sign of all over his own shop. It read: ‘MAIN ENTRANCE’ Job Requirement Employer: “In this job we need someone who is responsible.” Applicant: “I’m the one you want. On my last job, every time anything went wrong, they said I was responsible.” The Raise Sam walks into his boss’s office and says “Sir, I’ll be straight with you; I know the economy isn’t great, but I have over three companies after me, and I would like to respectfully ask for a raise.” After a few minutes of haggling the boss finally agrees to a 5% raise, and Sam happily gets up to leave. “By the way,” asks the boss, “Which three companies are after you?” “The electric company, water company, and phone company!” The Paper Shredder A young executive is leaving the office late one evening, when he finds the

CEO standing in front of a shredder with a piece of paper in his hand. “Listen,” said the CEO, “this is a very sensitive and important document here, and my secretary has gone for the night. Can you make this thing work for me?” “Certainly,” the young executive says. He turns the machine on, inserts the paper, and presses the start button. “Excellent, excellent!” says the CEO as his paper disappears inside the machine. “I just need one copy.” Salary Expectations Reaching the end of a job interview, a Human Resources Officer asks a young engineer fresh out of school about his salary expectations. The engineer replies, “In the region of $125,000 a year, depending on the benefits package.” The interviewer inquires, “Well, what would you say to a package of five weeks vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50% of salary, and a company car leased every two years, say, a red Corvette?” The engineer sits up straight and says, “Wow! Are you kidding?” The interviewer replies, “Yeah, but you started it.” Employee Motivation The owner of a company tells his employees: “You worked very hard this year, therefore the company’s profits increased dramatically. As a reward, I ‘m giving everyone a check for $5,000.” Thrilled, the employees gather round and high five one another. “And if you work with the same zeal next year, I’ll sign those checks!” Time to Go An employee is getting to know her new co-workers when the topic of her last job comes up. “Why did you leave that job?” asked one co-worker. “It was something my boss said,” she replied. “What did he say?” the co-worker quizzed. “You’re fired.”

EXECUTIVE HEALTH

tress Syndrome? Here Are Some Tips to Develop Stress Resilience Stress is a major contributor to private (individual), institutional and even national health costs. Stress also has a way of stressing an individual’s personal health.Stress is a contributing factor to heart disease, strokes, cancer, liver disease, depression, accidents and suicide.

Forgetfulness; Irritability; Problem concentrating; Restlessness; Sadness; Fatigue

In general “stress” explains the state or feeling of being overwhelmed with life situations and possible uncertainty of dealing with “stressful” situation we find ourselves in.

Constantly reacting to stressful situations without making physical, mental, and emotional adjustment to counter their effect can cause physical, emotional and behavioral problems often leading to depression. Philip Burguieres, vice chairman of the Houston Texans football team, author, and national spokesman for “Clinical Depression and the CEO”, believes that executives, especially CEOs, are more susceptible to clinical depression.

Many challenging situations are a threat to our well-being. Some situations spur you on and may be regarded as positive. Indeed, if not for “some” stress, life could have been boring and non-directional. However, when such situations start to threaten our wellbeing, both mentally and physically, then we need to do something about it. There is a difference between “stress” and “a stressor”, which is an agent or stimulus that causes stress. Stress is the feeling we have when under pressure, while stressors are the things we respond to in our environment. Examples of stressors are noises, unpleasant people, a speeding car, or even going out on a first date. Generally (but not always), the more stressors we experience, the more stressed we feel. The way you respond to a challenge may also be a type of stress. Part of your response to a challenge is physiological and affects your physical state. When faced with a challenge or a threat, your body activates resources to protect you - to either get away as fast as you can, or fight. When we are stressed the following happens: • Blood pressure rises; Breathing becomes more rapid; Digestive system slows down; Heart rate (pulse) rises; Immune system goes down; Muscles become tense; We do not sleep (heightened state of alertness) Possible effects of stress on your thoughts and feelings: • Anger; Anxiety; Burnout; Depression; Feeling of insecurity;

Possible effects of stress on your behavior: • Eating too much; Eating too little; Food cravings; Sudden angry outbursts; Drug abuse; Alcohol abuse; Higher tobacco consumption; Social withdrawal; Frequent crying; Relationship problems

“Rates of depression may be as high as 35 to 40 percent among CEOs, in contrast to 25 percent among the general population. Most CEOs tend to be type ‘A’ personalities. They work longer, harder and tend to spend less time on activities that provide relief from the daily pressures of their responsibilities, Burguieres says. “They‘re less inclined to make timefor personal activities, like vacations, working on relationships and fitness. Because of their multiple responsibilities and commitments, many have never taken time to learn good coping skills, which are different than the skills required to manage large manage large organizations” How can busy executives maintain their work responsibilities? How can you stay committed, feel in control and be challenged rather being overcome by stress? Studies show that managers and executives who view potential stresses as challenges are more successful at developing “stress-resilience”. Anne Zizzo CEO and president of Zizzo Group, a 10 year old marketing, advertising and public relations firm, looks at every problem as a challenge. “I absolutely love my work says Zizzo. My greatest stress has been the administrative responsibilities required to meet the rapid growth of our business. We’ve added 10 new

employees in the past few months and tripled our office space. Anne has worked hard at maintaining work-life balance “I work out with personal trainer three days per week. It’s been great stress reliever. I also take frequent weekend retreats with my family to our vacation home in Minoqua” she says. Bob Heaps, executive vice president of Hays Benefits, a division of Hays Co., has worked in the extremely high pressure employee benefits industry for most of his career. “My greatest stress is the inability to manage our clients’ cost control expectations at a time when health benefit costs continue to rise in doubledigit increases,” Heaps says. Bob has always loved his work but experienced some serious stressrelated issues before developing good coping skills. Several years ago, severe work-related anxiety landed Bob in an intensive care unit with heart attack-like symptoms. “When I was told I was having a stress attack instead of a heart attack, I decided it was time to learn how to manage my stress. Now, when I feel things getting out of control, I shut my office door for a few minutes, do some deep breathing and focus on relaxing. Outside of the office, I garden from spring to fall. A commitment to regularly scheduled family vacations and attending my son’s athletic events also help me maintain balance.” Here are some tips for developing stress resilience: 1. Choose work that you love. Feeling passionate about your work contributes to a sense of purpose and well-being. 2. Avoid Caffeine, Alcohol, Nicotine and Refine Sugars. Avoid, or reduce consumption of nicotine, caffeine and alcohol, which are known toincrease levels of stress. Take more water, herbal teas, or diluted natural fruit juices, whichare more ideal beveragesto enable your body to cope better. Reduce your intake of refined sugars found in many manufactured foods, which can cause energy crashes and lead you to feel tired and irritable.

In general, try to eat a healthy, wellbalanced and nutritious diet. 3. Keep a Stress Diary – Write down your stress triggers. Note down the episodes—date, time and place, in the past few (two or more) weeks—when you have felt stressful: what you were doing?Who you were with?And how you felt both physically and emotionally?A pattern may be linked to specific places, people and events.Use the diary to understand what triggers your stress and how effective you are in stressful situations. This will enable you to avoid stressful situations and develop better coping mechanisms. 4. Take charge and confront stressful situations. Stress can be triggered by a problem that may seem impossible to solve. Rather than letting something or someone botheryou, take initiative and do something about it. Finding solutions to your problems helps you feel in control thereby lowering your level of stress. Overwhelming problems at work may be causing you some sleepless nights but think about the worst case scenario and count your blessings: your health, your family etc. One problem-solving technique involves writing down the problem and coming up with as many possible solutions as you can. Decide on the good and bad points of each one and select the best solution. Write down each step that you need to take as part of the solution: what will be done? How? When?Who is involved and where will it take place. 5. Find social support by talking to someone Instead of holding problems inside, justdiscussing it out with somebody can either distract you from your stressful thoughts or release some of the built-up tension.Stress can cloud your judgement and prevent you from seeing things clearly. Talking things through with a friend or even a work colleague can help you find solutions to your stress and put your problems into perspective. Putting time and effort into supportive relationships will add to your emotional health. 6. Exercise Regularly. Many or more stressful situations cause excess (ive) adrenaline and cortisol—hormones that protect us from immediate bodily harm when we are under threat. Physical exercise helps metabolize the excess stress hormones and restore your body and mind to a calmer, more relaxed state.

Exercise has many benefits but may prove difficult to buildinto an already busy schedule. It is not necessary to spend an hour at the gym for stress relieving benefits. Even a 5-minute walk or a few minutes of stretching during your day will reduce stress as well as promote sleep.When feeling stressed and tense, go for a brisk walk in fresh air. Or incorporate some physical activity into your daily routine on a regular basis, either before or after work, or at lunchtime. Even indulging in some lighter exercise, including gardening, can help. Also use Laughter to reduce stress hormones. This may be done through humour in normal settings around family, circles of friends but also comedy including clips and movies. Lastly you may consider Laughter Therapy (Google: “therapeutic laughter”). 7. EnsureAdequate Sleep A lack of sleep is a significant cause of stress. Unfortunately though, stress also interrupts our sleep as thoughts keep whirling through our heads, stopping us from relaxing enough to fall asleep. Rather than relying on medication, aim to maximize your relaxation before going to sleep. Make sure that your bedroom is a tranquil oasis. Avoid caffeine or excessive alcoholduring the evening. Stop any mentally demanding work several hours before going to bed. Take a warm bath or reada calming, undemanding book for a few minutes to relax your body. Also aim to go to bed at roughly the same time each day so that your mind and body get used to a predictable bedtime routine. 8. Try Relaxation Techniques or Find a way to Turn it Off Each day, try to relax with a stress reduction technique. There are many tried and tested ways to reduce stress so try a few and see what works best for you. Self-hypnosis is very easy and can be done anywhere. You may, for instance, focus on a word or phrase that has a positive meaning, such as “calm” “love” and “peace”.Or you could think of a self-affirming mantra such as “I deserve calm in my life” or “Grant me serenity”. Focus on a chosen word or phrase and keep refocusing if your mind wanders. You may find it difficult to relax at first but relaxation needs to be learned and will improve with practice. For immediate stress relief, when you feel your head is going to burst or your

heart jump out of your chest, practice deep-breathing techniques: inhale and exhale slowly while concentrating on your breath. Establish a pattern of taking time out. 9. Time Management At times, our ‘To Do’ listsare overwhelming and mayexacerbate stress. Accept your limitations to accomplish everything (at once). Genuineprioritization could help immensely by reducing “overwhelming and unmanageable” to do list into smaller do-able tasks with corresponding time-frame.Differentiate urgent, important and non-important tasks.Also, learn to delegate.Do not forget“slack” and down-times for those unexpected/emergency tasksand also your own relaxation and healthy breaks. 10. Assertiveness – Learn to Say ‘No’ One needs to rationalize how much one can do without sacrificing quality, respect by others and well-being. However, many professionals keep taking on additional responsibility, unceasingly! It is imperative that one becomes not only choosy but empowered enough to tell someone “I would have liked to take that up… I would have liked to help you...BUT I am UNABLE to do so due to other priorities!” This helps to manage stress levels and is also positive on our selfesteem. 11. Strive for balance. Studies show that successful executives place high priority on maintaining balance with work and non-work activities. They understand the importance of family, friends and health, and are not willing to sacrifice their home lives to advance in an organization. 12. Engage in positive activities. A varied range of non-work activities that are different from your work and are in harmony with your personal and social values can be therapeutic. 13. Rest When Ill If you are feeling unwell, do not feel that you have to carry on regardless. A short spell of rest will enable the body to recover faster.

Adopted and rewritten from “The Director” Magazine published by the Institute of Directors in Nigeria

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