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Corporate Governance

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Corporate Governance

TIRET continues to comply and act in line with both local and international regulations. It also endeavors to ensure the same principles are followed by its companies and projects.

Our governance adherence includes the constant submission of decisions to the Memorandum of Association, regional and country-wide proclamations and laws governing investment operations; and rules and regulations of both environmental agencies and other international benchmarks.

TIRET apply high standards to corporate governance, with the goal of ensuring the Company's long-term value and success for all stakeholder groups: customers, shareholders, employees, creditors, suppliers and the communities at large in which we operate.

TIRET corporate governance policies are set to foster:-

    TIRET by the Laws of Ethiopia can engage in sustainable income generating activities that are incidental to the achievement of its Socio-Economic development to alleviate poverty. Creating job opportunities, transferring technology and taking a share in any investment to escalate the business of the company.

    Transparent and sustainable value creation by clearly delineating responsibilities, management processes and organization

  • Continuous monitoring of the Board of Directors' performance and efficiency through the oversight of the TIRET board and the The Amahar Regional State Council.
  • Proper decision-making relating to policy principles and controls.
  • Ensuring that every business, company and projects owned by TIRET are appropriate forward and backward linkage integrated
  • Ensuring that our activities positively affects the lives of the people of Amhara Region for which TIRET was established as a sustainable Endowment.

TIRET Social Development activities budget is allocated from the profits generated by its companies and businesses. The social development activities are very extensive as it covers activities relating to women and children, support elderly people, education, youth empowerment, interventions in physically handicapped, sports, as well as others. By convention, every TIRET companies are expected to commit their own social responsibility to the people of the region special around their surroundings. As the previous council decided, TIRET is expected to commit a minimum of 3% of its profit to Social Development. TIRET spending on socio-developmental activities more than $10,000,000 million birr /$434,782.61 US Dollar/ annually.

As part of ensuring good corporate governance, The Amhara Region Council made up different stakeholders from different zones and woredas is the highest body which elects the TIRET board that oversees that affairs of the Chief Executive officer and the various Deputies CEOs.

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