Corporate Governance

Guinness Ghana Breweries Limited (GGBL) is committed to achieving the highest standards of corporate governance, corporate responsibility and risk management in the conduct of its business. GBBL is also committed to carrying out its business responsibly and in accordance with all laws and regulations which its business activities are subject to. The board and management team are collectively responsible for ensuring that the highest standards of corporate governance are achieved when directing and controlling the business.

BOARD OF DIRECTORS

EXECUTIVE MANAGEMENT COMMITTEE

 

OTHER COMMITTEES

AUDIT SUB-COMMITTEE [ASC]

The audit sub-committee [ASC] of the board is comprised of three directors two of whom are non-executive directors. It is chaired by a non-executive director and required to exert a high level of oversight and scrutiny into the company’s operations and financial reporting and internal controls and compliance system.

The ASC assists the board in fulfilling its oversight responsibilities relating to the integrity of the financial statements, compliance with legal and regulatory requirements, the independent auditors qualifications, independence and remuneration, the performance of the internal compliance function and the performance of our independent auditors [Messrs. KPMG]. The ASC ensures that recommendations by the auditors and the ASC itself, for procedural improvements and rectification, are duly completed by the company.

NOMINATIONS COMMITTEE

The nominations committee is comprised of two directors. The nominations committee makes recommendations to the board on all matters concerning corporate governance and directorship practices including development of corporate governance guidelines, evaluation of the board, committees and individual directors, identification and selection of new board nominees, and oversight of the company’s policies relating to social and environmental issues. The nominations committee also evaluates and recommends compensation for Non-executive directors.

RISK MANAGEMENT AND INTERNAL CONTROL

GGBL is proud of its commitment to external auditing each year. In addition to the annual financial audit undertaken by KPMG [external audit] the Company undergoes internal audits and reviews in key areas of its operations. We also undergo annually, the Controls Assessment and Risk Mitigation [CARM] process to drive improvement and adherence to controls.

OCCUPATIONAL HEALTH AND ENVIRONMENTAL SAFETY

Your company is committed to providing the highest standards of health, safety and welfare for its employees and has taken major strides in ensuring minimal effluent discharge. All aspects of our operation are therefore conducted in compliance with applicable health and safety laws and regulations and company policies.

CODE OF BUSINESS CONDUCT

Your company is committed to operating with integrity and has a Code of Business Conduct in place which establishes the level of professionalism and integrity required of all employees and the third parties that the company deals with. The Code clearly spells out the high ethical, professional and moral standards expected which include the requirement for reliable and accurate financial reporting, compliance with all applicable laws, the prohibition of improper payments and bribes and the commitment to act as a socially responsible company with respect to the environment, the communities we operate in and our employees. Your company is also committed to promoting responsible drinking and the highest standards of responsible marketing as captured in our Marketing Code.