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| The Deputy Minister for Energy and Minerals, Hon. Charles Kitwanga (left) presents a trophy to the winner of the inaugural Best Board Leadership Awards (BBLA) 2014 in the Banking Sector, the CRDB Bank Acting Chairman of the Board, Mr. Martin Mmari (right). CRDB Bank emerged the winner in the banking sector while Heritage Insurance became victor in the insurance sector during the inaugural Best Board Leadership Award 2014 in the financial sector at a colourful event held at Serena Hotel in Dar es Salaam recently. |
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| The Deputy Minister for Energy and Minerals, Hon. Charles Kitwanga (left) presents a trophy to the winner of the inaugural Best Board Leadership Awards (BBLA) 2014 in the Insurance Sector, the Heritage Insurance Chairman of the Board, Mr. Yogesh Manek (right). Heritage Insurance emerged the winner in the Insurance sector while CRDB Bank became victor in the banking sector during the inaugural Best Board Leadership Award 2014 in the financial sector at a colourful event held at Serena Hotel in Dar es Salaam recently. |
CRDB Bank and Heritage Insurance emerged victors during the inaugural Best Board Leadership Award 2014 in the financial sector at a colourful event held at Serena Hotel in Dar es Salaam recently.
CRDB edged out Exim Bank which finished second and Tanzania Postal Bank (TPB) which settled for the third slot to claim the coveted prize in the banking sector.
Heritage made it in the insurance sector after outsmarting Alliance Insurance Corporation, Alliance Life Assurance and Strategis Insurance (T) Limited respectively.
The competition which saw the participants undergoing a vigorous evaluation process was manned by a four-member panel led by Mr Leonard Mususa, retired PricewaterhouseCoopers (PwC) Country Senior Partner .
Other panelists were Mr Ludovick Utouh (retired Controller and Auditor General), Mr Mworemi Marwa ( Dar es Salaam Stock Exchange (DSE) CEO and Mr Yona Killaghane (retired Director General of the Tanzania Petroleum Development Corporation (TPDC).
Speaking of the evaluation process, Mr. Mususa said in order to assess board leadership performance his panel used a questionnaire, which was aimed at assessing board performance in 7 broad areas which included strategy and planning of the respective board.
“Other areas of assessment were risk management, external Communication with stakeholders, measuring and monitoring performance, tone at the top especially in establishing desired value-based culture and ethical behaviour throughout the organization ,’’ he mentioned.
Further the panel assessed Board dynamics especially on how a board should function and management evaluation, compensation and succession planning, according to Mr. Mususa.
Speaking during the occasion, Chairman of the Tanzania Private Sector Foundation (TPSF) and IPP Chairman, Dr Reginald Mengi, said the awards came at the right time when the Insurance and Banking sectors in the country are realizing drastic development changes.
Earlier speaking of the Awards, BBLA Coordinator, Neema Gelard said they will give insight as to how a great board can help an organization flourish and achieve the best performance in its area of specialization.
Further she extended a warm appreciation to the sponsors of the Awards which included Capital Plus International (CPI), IPP Media, Real PR Solutions Limited, Afrimax Strategic Partnerships Limited, Serena Hotel, Fix Agency Ltd, Lilacnshades and Excel Management and Outsourcing.
Speaking during the occasion, the deputy minister for energy and minerals, charles kitwanga called upon more financial institutions and insuarence firms to participate in the next awards.
''I want to congratulate the coordinators of these awards for coming up with this productive idea... Next time it will be more productive if the awards will also involve our social security schemes, '' he suggested.
By Staff Writer
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