The Banque Ouest Africaine de Développement (BOAD) is the joint institution of the Union Monétaire Ouest Africaine (UMOA), whose mission is to promote the balanced development of its member states and contribute to the economic integration of West Africa.
In accordance with Article 6 of its Articles of Association, BOAD’s capital is divided between Series A shareholders and Series B members. These shareholders are represented by directors on the BOAD Board of Directors.
In addition, BOAD is authorized to create companies or other entities, with or without legal personality, in which it holds, directly or indirectly, the majority of the capital or over which it exercises control (hereinafter “Affiliated Entities”) and to which specific missions are assigned. The term “control” means the power to direct the Affiliated Entity and steer its policy, whether through the holding of voting rights in its capital, by contract, or by any other means.
With reference to the basic texts and policy documents of the Banque Ouest Africaine de Développement (BOAD) and to international ethical standards, the present Charter defines the guidelines, standards and conventions relating to professional ethics and deontology for members of the BOAD Board of Directors, as well as for members of the Boards of Directors, Management Boards or other administrative bodies of Affiliated Entities.
