Analysts push for NamRA board fees and attendance review

According to NamRA’s financial report for the 2023/24 financial year, released in September last year, board members collectively received N$1,133,279.02 in fees. Analysts, however, argue that these figures are not reflective of the responsibilities, time commitment, and risks involved in governing an entity of NamRA’s magnitude.Some business experts have described the current board fees as "ridiculously low " given the governance expectations placed on board members. "These individuals are tasked with overseeing management and ensuring proper fiscal discipline. The current structure does not allow them to dedicate the necessary time and expertise, " analysts said. "I have always advocated for the professionalisation of SOE boards. If board members are paid appropriately, they can focus full-time on governance and apply their expertise more effectively. "The report reveals disparities in board attendance, with most members present at all four statutory meetings and a special session on 27 June 2023. However, ex-officio member Titus Ndove attended only one statutory meeting and two committee meetings. Analysts contend that repeated absences should lead to automatic resignation, with the nominations committee tasked to find a replacement.A key argument raised by analysts is that remuneration directly impacts the effectiveness of a board. "I believe you get what you pay for, and when you pay peanuts, you will get average performance from directors who barely have time to read their board packs. When they do, it is after hours when they are exhausted and juggling family responsibilities. " "Some of these board packs run into hundreds of pages and are highly technical. Often, the hourly rate of board members is lower than their work salaries. "Furthermore, the analysts highlighted discrepancies in board fees across SOEs, arguing that NamRA’s complexities and responsibilities justify significantly higher remuneration. "There are SOEs that pay higher board fees but with far lower levels of complexity than NamRA. This is unfair and discouraging for prospective board members. Directors also carry personal liability risks, which may or may not be covered by NamRA. They are putting their careers and personal assets at risk for a mere N$250,000 per annum, which is a weak director value proposition. Professionalise the NamRA board, pay directors N$1 million each, so they can perform governance duties full-time and be held accountable for their fiduciary responsibilities. This will build better and stronger public institutions. "NamRA board members received varying remuneration amounts in the 2023/24 financial year. Anna Nakale-Kawana (chairperson) received N$190,361.59, while Stefan Hugo (Deputy chairperson) was paid N$247,753.08. Shirene Bampton earned N$212,326.74, and Advocate Dennis Khama received N$237,188.22. Pieter Kruger was paid N$245,649.39, whereas Titus Ndove and Sam Shivute did not receive any remuneration. Their exclusion from board fees aligns with Section 22(2) of the Public Enterprises Governance Act, 2006, which states that "no remuneration is payable to a member of a board who is in the full-time service of the State. "As the financial year draws to a close, NamRA spokesperson Steven Ndorokaze confirmed in a recent telephone interview that the agency is committed to finalising its financial report for 2024/25 within the stipulated six-month period as expected by the Ministry of Finance and Public Enterprises.

Analysts push for NamRA board fees and attendance review

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Republikein 2025-04-30

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Analysts push for NamRA board fees and attendance review

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