About Us
Governance
Corporate Governance Framework
The RFA’s governance framework is guided by national legislation and recognised corporate governance principles.
The organisation operates in accordance with:
- The Road Fund Administration Act, 1999 (Act No. 18 of 1999)
- The Public Enterprises Governance Act, 2019 (Act No. 1 of 2019)
- The Corporate Governance Code for Namibia (NamCode)
The RFA is governed by a Board of Directors that provides strategic oversight and ensures the organisation fulfils its mandate effectively.
The Board is accountable to the Minister of Finance, who represents the Government of the Republic of Namibia as the sole shareholder.
Its responsibilities include setting the organisation’s strategic direction, guiding policy development, overseeing risk management, and ensuring the RFA operates transparently and sustainably.
The Board operates in accordance with a Board Charter that outlines its roles, responsibilities, and governance practices.
Board Committees
To support the effective execution of its responsibilities, the Board has established specialised committees that focus on key governance and operational areas.
Audit, Investment, Risk, and Compliance Committee (AIRCC)
The AIRCC oversees financial reporting, internal and external audits, investment management, risk oversight, and regulatory compliance. The committee ensures that sound financial controls are maintained and that risks affecting the organisation are properly identified and managed.
Information, Communication and Technology Committee (ICTC)
The ICTC focuses on information technology governance, digital transformation, and cybersecurity. The committee ensures that technology investments support operational efficiency and protect the organisation’s information systems.
Together, these committees strengthen governance oversight and support the Board in guiding the organisation.
Human Capital and Remuneration Committee (HCRC)
The HCRC provides strategic direction on human resource matters, including organisational structure, employee planning, remuneration frameworks, and succession planning. The committee supports the development of a capable and motivated workforce.