Tanzania Vice President to launch institute for directors

The Vice President Dr Gharib Bilal

The Vice-President, Dr Mohammed Gharib Bilal, is expected to launch the Institute of Directors in Tanzania (IODT) on Thursday that aims at promoting best practices in corporate governance and provide a forum for directors to exchange ideas.

The Institute’s Board Chairman, Mr Pius Maneno, told reporters in Dar es Salaam on Tuesday that the institute which was registered in 2010 will promote directors’ skills, knowledge, professional competence and integrity. He said the institute would ensure that directors perform their duties in an effective fashion while promoting good governance at all levels.

“The institute is useful to directors since for many years they have never had a specific platform for them to exchange ideas and share experiences on various issues pertaining to their responsibilities,” he said. He said the institute will offer training to directors to enhance their understanding of best practices and responsibilities as directors with the view of strengthening good governance for the benefit of the nation.

According to Mr Maneno, the institute would focus on promotion of research and disseminate results of the studies while encouraging a favourable climate for entrepreneurial activities and wealth creation. A total of 20 companies in public and private sectors have come out to support the institute as patrons while insisting that membership was individual.

“We invite more companies as patrons to join this initiative which is of great benefit to the development of the nation but membership shall be of individual directors from all professions”, he said. IODT would also mete out punishment to directors who would go against agreed principles of good governance in addition to providing avenues and opportunities for networking.

During the launch, various topics related to good governance would be presented by experts at local and international level to enable more than 100 invited guests to share their understanding on the best way to run organisations.

By DORA TESHA, Tanzania Daily News