Created in 2012, FSD Africa is a £30 million financial sector development programme or 'FSD’ based in Nairobi. It is funded by the UK Government’s Department for International Development (DFID). FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive.
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Roles and Responsibilities of Non- Executive Directors
General Duties
Non-Executive Directors are expected to contribute to FSD Africa’s governance by providing independent oversight, constructive challenge and strategic input. They are not involved in day-to-day management but actively participate in Board decisions. Their influence is restricted to strategic, governance and oversight functions unless they are specifically granted authority by the Board or the Terms of Reference for Non-Executive Directors.
Legal and Fiduciary Duties
Non-Executive Directors are expected to adhere to the highest standards of ethical conduct and always act in the best interest of FSD Africa and its stakeholders. They must comply with statutory obligations and other applicable laws. This includes:
Acting with care, diligence and skill.
Avoiding conflicts of interests; and Disclosing any material interests in transactions involving the company.
Strategic Oversight
Non-Executive Directors are responsible for helping to formulate and review FSD
Africa’s strategy and for holding the executive accountable for implementing the strategy.
Risk Management and Compliance
Non-Executive Directors are essential in ensuring that FSD Africa adheres to sound risk management practices, regulatory requirements, and internal controls. They are expected to contribute to identifying and addressing potential risks to the respective company’s operations.
Ethical and Effective Leadership
Non-Executive Directors must contribute to FSD Africa’s corporate culture by fostering ethical decision-making and effective leadership, ensuring that each
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