We are committed to corporate governance of the highest standard in our own business, and in our partner companies. Our principles and values are embedded in our systems and in the policies and procedures of the Group. Each of our people has an individual responsibility to act at all times honestly and with integrity.
Holistic Compliance and Governance Framework
We have adopted and applied leading standards of corporate governance to deliver long-term and sustainable success for the Group, our investors and stakeholders. We believe that corporate success is not defined only by the performance of our business, but also by how we conduct it.
Our activities are shaped by the strategic objectives and risk appetite set by the Board of Directors in conjunction with the Group CEO, and involve actively managing the risks inherent in our business, and those of our Partner Companies.
Our system of corporate governance is based on internationally recognized and principles-based standards of the UK Corporate Governance Code and is tailored to the needs of our business and the risks of the markets in which we operate.
We have adopted a Holistic Compliance and Governance Framework which integrates corporate governance, legal and regulatory compliance and proactive risk management into a cohesive set of policies and practices, comprising three elements: The Principles of Governance, the Compliance Compendium, and the Declaration System.
The Board of Directors
The Board of Directors is the foundation of our governance framework. Our Board comprises executive and non-executive directors who provide the necessary balance of skills, experience, independence and knowledge.
Our Board Committees
The Audit Committee is comprised of non-executive directors to ensure objectivity and independence. The Audit Committee directs the work of, and receives reports from, the internal and external auditors regarding the Company’s financial statements, processes, systems and internal controls and makes recommendations in relation to these matters to the Board.
The Succession Committee’s role is to assist and advise the Board of Directors on matters relating to succession planning in respect of the Group Chief Executive.
The Board collectively assesses its performance and makes recommendations for proposed candidates to join the Board of Directors. The Nomination Committee comprises of all members of the Board.
Governance, Compliance and Risk Committee
The Governance, Compliance and Risk Committee oversees regulatory compliance and risk management activities across the Group. The Committee monitors risk exposures with reference to the Group’s risk appetite and ensures that risks are effectively managed.
The Compensation Committee approves compensation schemes for the Group CEO and advises on other compensation matters across the Group.
Our Management Committees
Management Executive Committee
The Management Executive Committee (“MexCom”), establishes the Group’s processes and policies and develops and implements the Group’s strategy and annual business plan in line with its budgets. MexCom oversees the performance of the other management committees and ensures that the directives of the Investment Committee are executed.
Global Investment Committee
The mandate of the Global Investment Committee (“GIC”) is to ensure, and continuously improve the rigor and quality of the investment process while bringing the full investment experience of the Group to each investment. The GIC is responsible for all investment and divestment decisions across Funds and provides guidance at every stage of a transaction
Risk and Compliance Committee
The Management Risk and Compliance Committee is responsible for ensuring that MexCom, the Partners and the Board of Directors of the Group have visibility on all issues that may be considered a risk to the successful execution of the strategy and business plan, or which pose an active risk to the Group and its ParCos.
Partner Company Review Committee
The Partner Company Review Committee (“PRC”) is responsible for oversight of all Partner Companies after an investment has been made. The Committee ensures dissemination and adoption of best practices and shares knowledge and information to identify areas of synergy within Abraaj and our Partner Companies.
The Partner Council reviews the strategy, fundraising targets and business plans of the Group and serves as a discussion forum on key issues including the admission of new partners.
Commitment to Good Governance
As a Group we aspire to the highest standards of probity and candor in all that we do, and we seek to demonstrate transparency in our activities. Our Board of Directors, committees and councils ensure we deliver against our commitments and conduct our business to the highest standards.