The Board of Directors, appointed by the Minister of Energy (the Executive Authority) in terms of the NNR Act, derives its power from Section 8 of the NNR Act. It acts as the NNR’s accounting authority in terms of the Public Finance Management Act (PFMA).

The Board of the NNR adopted a Board Charter, which expands on the responsibilities of the Board of Directors, as set out in the above-mentioned Acts. It also defines the responsibilities of the Board as a unitary working group, as well as those of individual directors, covering areas that are not explicitly dealt with in the Acts. The Board Charter is reviewed annually to ensure that it meets standards of best practice within the Regulator’s unique environment as far as is reasonably possible.

The role of the Board is to ensure that the NNR effectively carries out its mandate, as set out in both the NNR Act and the PFMA, by collectively directing the affairs of the NNR, whilst looking after the interests of stakeholders, including those of the Executive Authority. The Board fully appreciates the requirement for accountability, honesty and transparency in fulfilling its fiduciary duties towards the shareholders and the organisation. To this end, the Board endeavours to ensure that the NNR complies with the obligation imposed on it by various laws and regulations that are applicable to the NNR, as well as by the Protocol on Corporate Governance, which includes the King ll report.

The Board comprises one executive member and 12 non-executive members who are independently appointed by the Minister of Energy in terms of the NNR Act. Board Members, including the CEO, hold office for a maximum of three years, but are eligible for reappointment.