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Corporate Governance

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Corporate governance

Maranda Concrete’s corporate governance strategy reflects its commitment to ethical leadership, community empowerment, environmental sustainability, and responsible business practices. Through this strategy, the company will ensure long-term value creation while maintaining a positive impact on society and the environment.

1. Board Leadership and Accountability


  • Board Composition: Ensure that the Board of Directors comprises individuals with diverse skills, including expertise in finance, construction, environmental sustainability, community development, and law. A mix of executive and independent non-executive directors will enhance decision-making.
  • Role of the Board: Provide oversight, set strategic direction, and ensure compliance with legal and ethical standards. The Board will regularly review and approve the company’s policies and strategies.
  • Executive Accountability: The executive team will be held accountable for achieving company objectives while upholding values of integrity, transparency, and social responsibility.

2. Community Empowerment


  • Partnerships with Local Communities: Establish meaningful partnerships with local communities to provide employment opportunities, skills training, and resource-sharing. Maranda Concrete will work with local leaders to identify ways to uplift the socioeconomic conditions of surrounding areas.
  • Education and Training Initiatives: Collaborate with local educational institutions to provide scholarships, internships, and training programs focused on the construction industry. This will create a pipeline of talent from local communities, improving job prospects.
  • Sustainable Development Projects: Actively contribute to infrastructure projects that directly benefit communities, such as building schools, roads, and health centers, fostering long-term partnerships and shared growth.

3. Ethics and Integrity


  • Code of Conduct: Develop and enforce a comprehensive Code of Conduct for all employees, suppliers, and partners, focusing on ethical behavior, anti-corruption, and respect for local cultures and customs.
  • Transparency: Regularly disclose financial statements, environmental impact reports, and community engagement outcomes to maintain transparency with stakeholders.
  • Anti-corruption Measures: Establish strong internal controls and reporting mechanisms to prevent, detect, and address corruption or unethical behavior.

4. Sustainability and Environmental Stewardship


  • Environmental Impact: Commit to minimizing the environmental footprint by adopting eco-friendly practices such as responsible sourcing of raw materials, reducing emissions, recycling, and water conservation in production processes.
  • Sustainable Product Offerings: Innovate towards producing eco-friendly construction materials, reducing reliance on non-renewable resources, and contributing to Kenya's green building movement
  • Corporate Social Responsibility (CSR): Allocate a percentage of profits annually to CSR initiatives focused on environmental sustainability, health, and education in communities where the company operates.

5. Risk Management


  • Compliance: Ensure that Maranda Concrete complies with all national regulations regarding construction, environmental standards, labor laws, and taxation.
  • Health and Safety: Promote a strong health and safety culture within the company, ensuring that all employees have access to safe working conditions, appropriate training, and equipment.
  • Financial Prudence: Maintain a sound financial management system that identifies risks and opportunities while ensuring fiscal responsibility and long-term profitability

6. Diversity and Inclusion


  • Inclusive Workforce: Ensure that recruitment policies prioritize diversity and inclusivity, giving equal opportunities to women, persons with disabilities, and underrepresented communities within the workforce.
  • Equal Opportunity Programs: Develop mentorship and leadership programs to help diverse talent rise through the ranks within the company.

7. Stakeholder Engagement


  • Stakeholder Dialogue: Establish an open communication channel with all stakeholders, including employees, clients, suppliers, local communities, and regulatory bodies. This will ensure that Maranda Concrete’s actions align with their expectations and contribute to shared goals.
  • Feedback Mechanism: Implement a structured feedback process for clients and communities to voice their concerns or suggestions for improvement. This will foster trust and continuous improvement.

8. Innovation and Technological Advancement

  • Adoption of Technology: Leverage modern technology and automation to enhance productivity, reduce costs, and maintain product quality. Invest in R&D for better construction materials and sustainable production processes.
  • Continuous Improvement: Implement lean management practices to continuously improve operational efficiency, quality, and customer satisfaction.