The Bank is supervised by the Reserve Bank of Zimbabwe and is audited by Deloitte and Touché (Chartered Accountants).
The Board of Directors, which is the bank’s highest authority outside the Annual General Meeting (AGM), provides governance and oversight on bank management. Representing the interest of shareholders, the Board has the ultimate responsibility for risk management. Through the Committees, the Board has primary responsibility for policy formulation and approval of strategies and determination of risk management strategies.
The Board, however, fulfils this function through Board Committees. Agribank has six (6) Board Committees, which are listed below
The Board Audit Committee reviews the Bank’s financial condition, its internal controls, performance, and findings of the internal auditors, recommending remedial action.
The Board Loans and Advances Committee is ultimately responsible for providing overall strategic direction to the Bank through approving and reviewing the credit risk strategy and credit risk policies.
The Board Risk and Compliance Committee is responsible for ensuring quality, integrity and reliability of the Bank’s risk management and approving risk management policies and procedures. The Committee also has oversight over legal regulatory best practice and ethical compliance within the Bank.
The Board Asset and Liabilities Committee is responsible for liquidity risk management and for establishing the level of tolerance for liquidity risk.
The Board Human Resources Committee is responsible for the Human Resource Policies and practices to attain the strategic goals of the bank.
The Board Loans Review Committee ensures conformity of the loan Portfolio and lending function to sound lending policy documented, approved and adopted by the Board.