Regulatory Alerts2024-06-12
SBB/91/2024 Bank Corporate Governance Directive
The National Bank of Ethiopia issued Directive No. SBB/91/2024 to establish a comprehensive corporate governance framework for all banks operating in the country. The directive mandates a minimum board size of nine directors with one-third independent members, enforces gender diversity and employee representation, and requires structured nomination committees alongside strict regulatory approval. It further standardizes director appointment procedures, limits consecutive terms to six years with limited re-election rights, and obligates banks to integrate sustainability factors, risk management, and continuous director training into their operations.
Share