+27 (11) 403 3425 (General Enquiries) info@themvulatrust.org.za

GOVERNANCE

The Mvula Trust has been and is always busy creating change where change is desperately needed

The Board of Trustees strives to fulfil the Trust’s mandate in a manner that is consistent with best corporate practices, taking into account the four pillars of governance which are accountability, responsibility, fairness and transparency.

The legislative responsibilities of Trustees is set out in the Trust Property Control Act, of 1988, the Companies Act
of 2008 and exemplified in the Trust Deed and the Board Charter of the Trust.

The Board Charter regulates the powers and responsibilities of Trustees, as well as matters delegated to subcommittees of the Board, whereas the delegation of authority framework regulates powers delegated to
the Chief Executive Officer and Management.

The Board of Trustees adhere to the provisions and responsibilities as set out in The Mvula Trust Deed,
as well as the Board Charter. Trustee duties include among others:
• Acting in good faith and in the interest of The Mvula Trust;
• Executing fiduciary duties in a bona fide, diligent, responsible and skilled manner;
• Overseeing the approval of the strategy of the organisation on various policies;
• Approval of annual budgets, operational business plans, audited financial statements;
• Evaluating the performance of the Chief Executive Officer.

The Board of Trustees approves the strategy and business plans of The Mvula Trust in the interest of risk
aversion and sustainability.

The Board of Trustees provides strategic direction and ethical leadership to the Trust. The Board applies a unitary board structure with the majority of Trustees being non-executive members. The Board comprises of five non-executive members of the Board of Trustees and one executive member. The Trustees possess a wide range of skills, knowledge and experience to meet the strategic objectives of the Trust. All non-executive members of the Board are appointed for an initial period of three years and in line with the recommendation of King III, are prohibited from serving as non-executive members for a period of more than nine years. All non executive members do not draw any remuneration other than the Board fees.

The Board of Trustees adhere to the provisions and responsibilities as set out in The Mvula Trust Deed,
as well as the Board Charter. Trustee duties include among others:
• Acting in good faith and in the interest of The Mvula Trust;
• Executing fiduciary duties in a bona fide, diligent, responsible and skilled manner;
• Overseeing the approval of the strategy of the organisation on various policies;
• Approval of annual budgets, operational business plans, audited financial statements;
• Evaluating the performance of the Chief Executive Officer.

The Board of Trustees approves the strategy and business plans of The Mvula Trust in the interest of risk
aversion and sustainability.

The Board of Trustees provides strategic direction and ethical leadership to the Trust. The Board applies a unitary board structure with the majority of Trustees being non-executive members. The Board comprises of five non-executive members of the Board of Trustees and one executive member.

The Trustees possess a wide range of skills, knowledge and experience to meet the strategic objectives of the Trust.

All non-executive members of the Board are appointed for an initial period of three years and in line with the recommendation of King III, are prohibited from serving as non-executive members for a period of more than nine years. All non executive members do not draw any remuneration other than the Board fees.