Board members need diverse skills, a thorough review of management accounts, and the establishment of proper structures, including board committees, to effectively fulfil their roles.

These measures, the Chairperson of the Public Enterprises Chairpersons Forum, Nangula Hamunyela, says, are crucial in addressing key strategic issues related to finance, sustainability, and risk management.

Hamunyela also questioned the selection process for public enterprises and whether they are driven by financial incentives or a genuine desire to contribute positively to their institutions. 

She emphasised that boards should be committed to serving the purpose of their institutions to avoid future challenges and promote development and growth.

"If an individual is focused on the correct expertise, it could be valuable. If you have been in operations and now you are on board level, your focus and experience could really add value. If you are there to settle scores, you are missing the point. Experience and maturity are very important because immaturity is causing a lot of dysfunction and tug-of-war between management and boards."

She highlighted the significance of cultivating a culture of respect and transparency in the boardroom.

Hamunyela cited NamPort as an example, which encourages open and honest expression of opinions without hesitation and reaching targeted goals. 

Additionally, she stressed that board members should not only be willing to voice their views but also actively engage with and consider the perspectives of others to mitigate common boardroom biases.

"Back to NamPort in 2022, we said we wanted a N$500 million bottom line; last financial year, we achieved N$400 million; this year, 2024, we achieved N$600 million. And that is done by setting the strategy, overseeing that strategy, identifying what has gone wrong and what sectors we are going to pilot, and turning that around. The hows are very important."

Hamunyela was speaking at the recently held Public Enterprises CEOs Forum.