Board Committee

The Board of GIIF performs it functions through the Board level committees. These Committees have their tasks well defined, composed and structured. These commiittees deal with specific task. Currently the GIIF has four (4) Committees namely:

  • Investment & Finance Committee

  • Risk & Compliance Committee

  • Audit Committee ***

  • HR & Legal Committee

  • Budgeting and Reporting

  • Ensuring that relevant credit risk assessments are considered as part of the transaction approval process.
  • Assessing investees and the quality of the due diligence performed
  • Managing the portfolio of existing investees
  • Managing any eventual divestment processes that are likely to take place
  • Controlling company budgets and annual accounts
  • Capital raising
  • Management of government funds
  • Treasury management

  • Approving credit risk limits and limit exemptions;
  • Reviewing credit and market risk and taking appropriate actions in response to issues identified, including limit changes;
  • Receiving and addressing reports of credit limit breaches
  • Ethics and integrity compliance
  • The effectiveness of GIIF’s complaints and whistleblower mechanisms and corrective actions arising from compliance and integrity matters;

  • Reviewing the Internal Audit Charter, annual internal audit plans, risk assessments, and audit reports;
  • Ensuring that Internal Audit has direct and unrestricted access to the Audit Committee;
  • Monitoring management’s implementation of recommendations arising from internal audit reports, Auditor-General reports, management letters, and other relevant monitoring reports;
  • Reviewing policies relating to legal and regulatory compliance, ethics, conflicts of interest, and investigations of fraud and misconduct; following up on significant investigations, disciplinary matters, and related corrective actions;
  • Authorizing investigations into matters within its scope of responsibility; collaborating with the Internal Audit Agency to initiate investigations involving fraud or misuse of public funds where appropriate; reviewing significant financial management, internal control, governance, and compliance matters;
  • Resolving disagreements between management and Internal Audit and ensuring that appropriate arrangements are maintained for the Code of Conduct, its

  • Human Resource Management Monitoring
  • Recruitment
  • Compensation
  • Compliance

  • Monitoring inflows and outflows;
  • Reviewing the Fund’s budgets, expenses, and accounts;
  • Ensuring that the Fund operates on adequate Governance, Risk, and Control systems;
  • Ensuring and overseeing that financial reports meet IFRS and other requirements;
  • Monitoring management’s implementation of financial reporting and budgeting recommendations
  • Safeguarding assets of the Fund;