CORPORATE

GOVERNANCE

About us

Cytonn Diaspora
Corporate Governance

At Cytonn Diaspora, we believe in a solid foundation of prudent governance and business ethics that belies our ability to create value for all our stakeholders

Our commitment to prudent governance begins with the client; responsible wealth creation requires a people first approach grounded in integrity, accountability, entrepreneurship and excellence

A strong record of value creation for our stakeholders begins with leadership by a management team of unquestionable integrity under disciplined oversight by a diverse, experienced board of directors. They are supported by a team of experienced, resourceful, intelligent and insightful staff drawn from diverse geographical locations, disciplines and industries

Shareholder Engagement

Our mission to create value for our shareholders is grounded in the Kenyan economic growth story. Solid investment fundamentals have created unprecedented wealth creation opportunities in the entire real estate value chain. We aim to connect landowners, developers, financiers and investors with the best opportunities; creating innovative real estate investment solutions and providing job opportunities and wealth for all involved.

Governance Structure

The Board is responsible for the approval of the firm’s strategy and major initiatives. It has appointed committees that guide its oversight and independent governance functions. These are the Audit, Risk and Compliance Committee, Investments and Strategy Committee, HR Governance and Compensation committee and Technology and Innovation committees. The board is also responsible for reviewing management and corporate performance and the effectiveness of strategic initiatives

About the Diaspora

Corporate Responsibility

We aim to make an impact in the communities in which we do business. Our corporate responsibility efforts have been guided by the Cytonn Foundation.

About us

Cytonn Diaspora
Corporate Governance

Selection of Directors

Board Members are selected through a nomination, interview and ratification process whose main aim is to achieve independence of mind, diversity (in terms of skillset, experience, gender and thinking) and value add to the growth of the business through their networks.

Board Committees

  • Investments and Strategy Committee- This shall be the Committee that approves the Company Strategy and ratifies any matters of investment and strategy relevant to the Board.
  • Audit Risk and Compliance- This is the Committee that shall be tasked with assessing the risk incidences in the company as well as reviewing Audit reports and ensuring that recommendations made are followed. In addition, the committee shall be responsible for maintaining the legal and business compliance of the company
  • Governance, Human Resources and Compensation Committee- This is the committee that is concerned with ensuring that the matters of governance in how the Board and its committees conduct themselves are in order. In addition, shall concern itself with staff matters, including but not limited to compensation.
  • Technology and Innovation Committee- the committee is responsible for encouraging, maintaining and embedding a culture of innovation in the company, as well as looking at Technology opportunities as a business driver.

Meetings Schedule

The Board has quarterly meetings set in the Board Calendar which is agreed upon at the beginning of each year. The AGM is scheduled Annually.

Other Board Duties

  • Fiduciary Duty to the Shareholders and a duty of care and skill
  • Promoting the interest of the Shareholders and the company
  • Broad stakeholder management
  • Guiding management and providing advice whilst evaluating management's performance
  • overseeing, approving, monitoring and reviewing corporate strategy
  • managing potential and actual conflicts of interest
  • Ensuring succession plans are in place
  • Ensuring the Company complies to all legal and other regulations

Annual Report and Accounts Schedule

The Accounting year is January to December each year and the Annual Report delivered at the Annual General Meeting

External Auditor Appointment

External auditor appointment -The sourcing of the External Auditor is through the procurement process of competitive bidding by at least 3 firms. The recommended bid is forwarded by Management to the Audit Committee for review and the Committee forwards its recommendation on the selected Auditor to the Board for ratification and appointment