Corporate governance is the framework of systems, policies and processes by which we operate and through which our people are both empowered and accountable for making decisions that affect our business, operations, customers and stakeholders. The framework establishes the roles and responsibilities of KCB Group's Board, management team, employees and suppliers.
Through the framework, the Board sets out the strategic direction of the Group while entrusting the day-to-day running of the organisation to the executive management led by the Group Chief Executive Officer, with their performance against set objectives and policies closely monitored.
The primary responsibility of the Board is to act in the best interests of KCB Group and to foster the long-term success of the Group, in accordance with its legal requirements and its responsibilities to shareholders, regulators and other stakeholders. The Board achieves such success by setting appropriate business strategy and overseeing delivery against the set strategy. It ensures that the Group manages risks effectively and monitors financial performance and reporting.
The Board serves as the focal point and custodian of corporate governance in the organisation. The directors recognise that good governance can create shareholder value by enhancing long-term equity performance.
All Directors of the Company must avoid any situation which might give rise to a conflict between their personal interests and that of the Group. The Directors are each responsible to notify the Group Chairman...
Read MoreIn line with the provisions of the Prudential Guidelines issued by the Central Bank of Kenya, KCB Group Plc as the majority shareholder in all the subsidiaries within the Group has the overall responsibility...
Read MoreThe Board recognises the importance of independent judgement and constructive debate on all issues under consideration. Directors are expected to bring views and judgement to Board deliberations...
Read MoreThese policies apply to all employees and Directors of the KCB Group, and to anyone working on the Group's behalf, including contractors and consultants. The Group has zero tolerance for all forms of corruption, bribery and unethical business practices.
The Group has in place a suite of policies, procedures and practices to promote a culture of compliance, honesty and ethical behaviour including in relation to anti-money laundering and counter-terrorism financing, whistle-blower protection and conflicts of interest.
Our Code of Ethical Conduct sets the expectations for all our employees, executives and Board members to make conduct decisions that are lawful, ethical and respectful to deliver fair outcomes for customers, colleagues, partners and stakeholders.
Learn MoreThe Code sets out the approach to follow to ensure the Group complies with its regulatory obligations and other related Group policies when dealing with conflicts of interest. The Conflict-of- Interest Procedures provide guidance to our people to identify...
Learn MoreTo achieve this, the Group has deployed the Enterprise Risk Management Framework (ERMF), which is a Board-approved document designed to support the identification and assessment of material risks that may inhibit the achievement of the Group's objectives, ensuring a holistic approach to risk management that is incorporated into business decision-making. It outlines the Group's approach to ensuring its key risk exposures are effectively managed, controlled, and monitored within an agreed risk appetite.
Our Enterprise-wide Risk Management approach supports bottom-up and top-down risk identification from both internal and external sources. This is done on an ongoing basis to ensure risks are reported as and when they emerge. This is supported by periodic Risk and Control Self-Assessments (RCSAs), which are an integral discipline for each business area within the Group.
All Directors of the Company must avoid any situation which might give rise to a conflict between their personal interests and that of the Group. The Directors are each responsible to notify the Group Chairman...
Read MoreThe Group's Risk Appetite Framework sets out its overall approach, including policies, processes, systems, and controls through which risk appetite is established, communicated, managed, monitored...
Read MoreThe Group's risk governance is the architecture within which risks are monitored and reported. The Board is ultimately responsible for ensuring that the risk management approach
Read MoreOversight of these mechanisms is conducted through the Group Audit and Risk Committee (GARC), that plays the role of providing a structured and systematic approach to the Group's governance, risk management, and internal control practices. The Committee further assists the board and management by providing advice and guidance on the adequacy of the institution's initiatives.