CORPORATE GOVERNANCE

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  • Corporate Governance Report 2021

    Group Profile

    MUA Ltd (‘MUA’ or ‘the Company’) is a public company listed on the Official List of the Stock Exchange of Mauritius (‘SEM’) since 8th January 2019 and is a Public Interest Entity as defined by the Financial Reporting Act 2004.

    The Board of Directors (‘Board’) of MUA is committed to uphold the highest standards of integrity, accountability and transparency in the governance of MUA and its subsidiaries (‘MUA Group’ or ‘the Group’) and acknowledges its responsibility for applying and implementing the eight principles set out in the National Code of Corporate Governance (2016) (‘the Code’) as explained in appropriate sections of the Annual Report:

    1. Governance Structure
    2. The Structure of the Board and its Committees
    3. Director Appointment Procedures
    4. Director Duties, Remuneration and Performance
    5. Risk Governance and Internal Control
    6. Reporting with Integrity
    7. Audit
    8. Relations with Shareholders and Other Key Stakeholders

    Governance Structure

    The Role of the Board

    The Board is responsible for leading effectively the Group and the Company by establishing strategies and policies to enhance the long-term value for its shareholders and other stakeholders.

    The Board validates and monitors strategies, policies and business plans as well as considers all statutory matters, including the approval of financial statements, the declaration of dividends, the review of the Company’s performance through budgets and forecasts and the Chief Executive Officer’s report. It also ensures that all legal and regulatory requirements are met.

    Role board

    Structure of Board and Committees

    Board size and structure

    The Company’s constitution states that the Board shall consist of a minimum of seven and a maximum of twelve Directors. As at 31 December 2021, the Company was headed by a unitary Board consisting of ten Directors, three of whom are Independent Non-Executives, five Non-Executives and two Executives.

    The Directors come from different professional backgrounds with varied skills, expertise and strong business experience. Taking into account the sophistication of the Group’s operations, the Board is satisfied that its actual size and composition is well balanced for it to assume fully its responsibilities while discharging its duties effectively. The Board Charter stipulates that composition of the Board shall include at least two Executive Directors, two Independent Directors and gender balance with at least one female Director.

    Board size and structure

    Shareholder Price Information

    Shareholder Price Information

    Shareholders’ Calendar of Events

    Timetable of important upcoming events

    Shareholders Calendar of Events

    Group Shareholding Structure

    Group Shareholding Structure
  • Directors’ Profile

    Dominique GALEA Dominique GALEA Non-Executive Director and Group Chairman
    Bertrand CASTERES Bertrand CASTERES Executive Director and Group CEO
    Vincent AH CHUEN Vincent AH CHUEN Non-Executive Director
    Alfred BOUCKAERT Alfred BOUCKAERT Independent Non-Executive Director
    Bruno DE FROBERVILLE Bruno DE FROBERVILLE Non-Executive Director
    Olivier DE GRIVEL Olivier DE GRIVEL Independent Non-Executive Director
    Mélanie FAUGIER Mélanie FAUGIER Non-Executive Director
    Catherine MCILRAITH Catherine MCILRAITH Independent Non-Executive Director
    Ashraf MUSBALLY Ashraf MUSBALLY Executive Director, Country CEO - Tanzania and Regional CEO - East Africa
    Mushtaq OOSMAN Mushtaq OOSMAN Non-Executive Director
    Brian AH CHUEN Brian AH CHUEN Alternate Director
    Celine GORMAND Celine GORMAND Alternate Director
  • Executive Committee

    Delphine AHNEE Delphine AHNEE Chief Operating Officer – General Insurance
    Mehtab ALY Mehtab ALY Group Chief Finance Officer
    Vikash BOOLELL Vikash BOOLELL Head of Legal, Compliance & Risk
    Konde BUGINGO Konde BUGINGO Country CEO - Rwanda
    Naresh GOKULSING Naresh GOKULSING Country CEO - Mauritius
    Jérôme KATZ Jérôme KATZ Head of Group Strategy & Investment
    Lydia KIBAARA – NZIOKI Lydia KIBAARA – NZIOKI Country CEO - Kenya
    Clarel MARIE Clarel MARIE General Manager - Life Insurance Operations
    Latimer KAGIMU MUKASA Latimer KAGIMU MUKASA Country CEO - Uganda
    Annie NANKOU Annie NANKOU Group Head of Human Resources
    Rishi SEWNUNDUN Rishi SEWNUNDUN Head of Group Information Systems & Logistics
    Kenny WONG Kenny WONG Group Chief Underwriting Officer