The newly established Governance Board of the Higher Education Students’ Financing Board has successfully completed a three-day induction training at the Imperial Hotel in Entebbe.
The event which was on 18th – 20th January, 2022 aimed at enlightening the new Board Members on issues of Corporate Governance, Strategic Governance and Crisis Management.
The induction training conducted by ABS Consulting Ltd also aimed at enabling Board Members understand good corporate governance practices, appreciate responsibilities of Board membership, understand the role of Boards in strategy formulation and validation. Board members were trained in appreciating the importance of working through Board committees and appropriate supervisory mechanisms of the Secretariat staff.
The event was opened by the Permanent Secretary, Ministry of Education and Sports Mrs. Betty Lamara who congratulated the Board upon their appointment and welcomed them to the education sector. She pointed out that governance is about guiding the organization and advised the Board to operate within the provided legislation and other guidelines.
The Board Chairman, Eng. Dr. Charles Wana-Etyem affirmed that the Board had formed three key committees, including the Loans & Scholarship Committee, the Finance & Administration Committee and the Audit Committee.
Dr. Wana-Etyem, who previously served as the Council Chairperson at Makerere University and Kyambogo University acknowledged the need for the Board to explore alternative sources of funding in order to increase the pool of resources available for the Students’ Loan Scheme.
The State Minister for Higher Education, Hon. Dr. John Chrysostom Muyingo in his closing remarks, encouraged the Board think outside the Government funding and grow the fund to cater for the increasing number of applicants to the Students’ Loan Scheme.
The training also included Top Management staff led by the Executive Director, Mr. Michael Wanyama.