Strong guiding hands
WDB’s trustees and directors consider themselves the stewards of the business and, as such, sound corporate governance is the foundation upon which both the trust and WDB Investment Holdings is built.
For Neo Mokhesi, nonexecutive director at WDB Investment Holdings (WDBIH), good principles of corporate governance equate to effective leadership through transparency and accountability to all stakeholders. This is put into practice through various policies and key board subcommittees such as audit and risk, HR and investment committees
Joy-Marie Lawrence, also a nonexecutive director at WDBIH, explains that the role of each nonexecutive director is to represent the interests of all stakeholders. “In particular, the focus is on supporting women to become full and active participants in the SA economy,” she says.
“The challenge for the nonexecutive directors is to balance the interests of all stakeholders while at the same time ensuring that WDBIH generates sustainable financial returns.”
When it comes to ensuring the sustainability of WDBIH, Mokhesi points out the importance of good corporate governance. In simple terms, she says, good governance provides investors and funders with the assurance that their investments and funds are in safe hands and that the company will be able to meet the requisite return mandates.
To this end, the nonexecutive directors facilitate proactive and efficient decision making to assist executives to execute the WDBIH mandate. They also play an oversight role in order to ensure that all the necessary checks and balances are in place to protect the interests of stakeholders. Moreover, they help to shape the vision of the company by bringing multiple perspectives to the table and strive to align the interests of all stakeholders.
This involves identifying key indicators and strategic levers to monitor the implementation of the WDBIH strategy.
Nonexecutive directors at WDBIH play a crucial role in a company that is run by women, for women, says Lawrence.
She believes the female nonexecutives at WDBIH combine the fiduciary responsibilities of being a non-executive director with the personal experiences they have all had as women at the boardroom table.
It’s about ensuring excellence in corporate governance while at the same time remaining sensitive to the triple challenges of poverty, race and gender discrimination faced by the beneficiaries of the trust.
“We also bring independence and external perspectives that help to shape the company’s vision and strategy, together with a healthy dose of empathy and emotional intelligence that make for productive board meetings,” she says.
“Our mandate is very clear — we invest in women,” Mokhesi says. As such, WDBIH makes a concerted effort not only to attract and retain talented women who share its vision in investing in women, but also develops its own pipeline of strong female talent through on-the-job training.
Importantly, non-executive directors should encourage their boards to strive for greater diversity and gender inclusivity.
Lawrence believes many companies use the excuse of not being able to find the appropriate black female talent to fill these roles and she insists that this excuse is just that — an excuse.