Organization Structure

The Organisation Structure of the company comprises the Board of Directors, the Investment Committee, the Audit Committee and the Management. According to the Company’s Memorandum and Articles of Association the maximum number of Directors is seven [7] and the minimum number is five [5] Directors. At the end of December 2018 the Board of Directors comprised seven [7] Directors. The Directors are expected to serve for a period of three [3] years. Consistent with the requirements of the company’s MEMARTS and Tanzania Companies Act 2002 the Directors are elected by the Shareholders during the Annual General Meeting. All the Directors are Tanzanians.

As aforementioned, the Board is supported by two Board Committees. The Committees are:

  • Investment Committee
  • Audit Committee

Each Committee is composed of three members. The Investment Committee meets regularly to discuss and decide on investment proposals which require urgent decision. The Committee also reviews the performance of the company on a quarterly basis.

The organization structure of TICL is lean to ensure effective distribution of responsibilities, exercise of authority and accountability at all levels. The structure includes the following levels:-

  • Board of Directors: The Board provides the strategic direction of the company, sets policies and procedures, approves strategic and operational plans, and allocates resources.
  • Management: This is headed by the Chief Executive Officer who is accountable to the Board of Directors and provides leadership of the company on a day to day basis on operational activities.
  • Staff: Staff are responsible at operational and tactical levels where tasks are guided by operational plans implemented under direct management supervision.