Best performing board awards next month

THE inaugural Best Board Leadership Award (BBLA), an initiative which aims to recognise outstanding leadership in the banking and insurance sectors, will be held in Dar es Salaam later next month.

BBLA is scheduled for January 30 and is jointly organised by the Bankers Association (TBA) and Association of Tanzania Insurers (ATI). BBLA Coordinator, Ms Neema Gerald, said the awards will give an insight of how a best board can help an organisation to flourish and achieve best performance in the area of its specialisation.

Sponsors of the coveted event include Capital-Plus International Limited, Real PR Solutions Limited, Afrimax Strategic Partnerships Limited, Serena Hotel and IPP Media, as more sponsors are being urged to come forward and support the awards.

“We have seen the need to identify and appreciate valuable inputs board members give to their organisations. We believe that behind every success of a financial organisation, there is a very strong and active board of directors. Now, these values that most of board members have should be recognised and appreciated,” she said.

Ms Neema said the tradition has it that only Chief Executive Officers and Managing Directors are valued by employees or even the general public.

“It’s the right time now for the best performing boards to be recognised and awarded handsomely for their efforts,” she said. She disclosed that the study, evaluation and final ranking will be done by highly ranked panel of judges whose records are outstanding.

The evaluation will focus on the effectiveness of the Board of Directors in terms of corporate governance, financial management and ability to spearhead overall organisation’s vision.

Other areas are boards’ attention on transparency, accountability, performance orientation, good process and practices.

She named other areas where the board would be evaluated as provision of multidimensional view of boards’ effectiveness to underscore the importance of human capital practices at the board level and to ratchet up benchmarks by bringing the best out of board practices,” he said.

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