Directors of KTDA managed tea factories with KTDA Head Office managers during a corporate governance workshop in Nairobi.
Directors of KTDA managed tea factories are undergoing corporate governance training in Nairobi to upgrade their oversight skills as they prepare to take up office and serve smallholder tea farmers.
The corporate governance training has attracted about 120 directors drawn from tea zones and 12 managers from KTDA Head Office. The training, which kicked off on February 10th, 2016 and runs until Friday, February 12th, 2016, is aimed at equipping directors with skills that will enable them adopt sound management practices in their factories.
KTDA Group Company Secretary, Mr. Ken Omanga, said that good corporate governance is a prerequisite for the success of business organizations and wealth creation.
“Good corporate governance is the amalgam of the adoption of best practices, creation and maximization of wealth, better accountability and investors’ protection. Corporate governance rides on quality leadership, good systems and procedures and transparency in decision making,” Mr. Omanga said.
He added that new Company Act places directors at vantage positions as trustees of companies to provide good leadership. He said new directors are also inducted to the KTDA systems, which is a unique business model in the globe.
“It is now a requirement that all directors in any listed company be trained on corporate governance. We too have adopted this best practice,” Mr. Omanga said.
One of the key responsibilities of the KTDA directors is to oversee the management of their tea factories for three years, after which farmers will have to go to the ballot box to elect new directors or re-elect the current ones.
KTDA directors also make policies that guide the operations of tea companies by ensuring that professional standards and corporate values are put in place to promote integrity. The directors also ensure that adequate systems are in place for redress of grievances arising from unethical practices.