76 SAFEGUARDING VALUE OUR GOVERNANCE APPROACH ARC Ltd.’s financial, intellectual and human capital aspects are built on the foundation of strong and effective governance and a comprehensive governance structure. Board member evaluations We follow a stringent evaluation protocol for our Board members given the Board’s vital role as ARC Ltd.’s governing body. In 2023 we appointed two new nonexecutive directors to our Board. Deepak Dave and Maxwell Mkwezalamba were highly recommended by the Nomination Committee, comprising our Class A and Class C Members, and were appointed for a three-year term. Dave and Mkwezalamba both have extensive Board experience in directorship roles and expertise across the African political network, meteorology, climate change, insurance, the financial sector and development in Africa. OUR GOVERNANCE STRUCTURES The responsibilities of the Board The Board ensures organisational sustainability through diligent oversight, guaranteeing sound management, regulatory adherence, the application of good governance principles and risk mitigation. Various committees assist the full Board in its duties and responsibilities, while the Board reviews the mandates and terms of reference of the committees annually. ARC Ltd.’s financial, intellectual and human capital aspects are built on the foundation of strong and effective governance and a comprehensive governance structure. SAFEGUARD I NG VALUE
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