At the core of its role, a board in a microfinance institution is expected to contribute and oversee strategy, as well as engage management in strategic decisions critical to the long-term success of the institution particularly its growth, impact and profitability. Financial institutions that are able to achieve this are increasingly identifying effective institutional governance as their primary differentiating factor.
Realizing effective institutional governance however also demands a holistic and robust approach. It is not only about having a board, committee infrastructure or the right frameworks, structure and processes in place but also entails the adoption of a robust social system. That is having the right people in the board and management teams who will interact well and are strong enough to hold candid discussions or voice diverse viewpoints. All the while, creating a conducive environment for collaboration so as to steer the organization forward to success.
"SAM provides the crucial knowledge, information and skills that have the potential to improve human livelihood globally."Gabriel Kamuge