Governance structures

Board

Chairman: Dr Anna Mokgokong

The Board is the highest governing authority of the Group and is responsible for corporate governance and setting strategy direction. The Board formulates the Group's strategy in line with the organisational vision and values and ensures all business decisions and judgements are made with reasonable care, skill and diligence

* All governance committees have a minimum of four meetings per year.

Sub-committees

Audit and Risk Committee

Chairman: Lindani Dhlamini

Responsible for governance and compliance with applicable laws and regulations

Monitors and ensures that the combined assurance model is applied and incorporates various assurance services

Recommends the independent auditors and oversees the auditing process

Ensures the integrity, accuracy and adequacy of accounting records

Evaluates risk assessments and ensures effective risk management policies and practices

Reviews the business continuity planning within the Group

Reviews and ensures the quality of the Integrated Report

Oversight on IT

ICT Steering Committee

Chairman: Sello Mmakau

Considers and steers high-level and high-impact ICT projects including the Group digitisation strategy

Aligns ICT and business strategies, goals and resources and achieves competitive advantage through ICT

Monitors ICT projects against ICT master systems plan

Investment Committee

Chairman: Joe Madungandaba

Plans, implements and monitors new capital expenditure projects, evaluating on completion and reporting findings to the Board

Makes recommendations to the Board, monitors and reports on material acquisition, merger or disposal opportunities, and ongoing material transactions and related matters

Social and Ethics Committee

Chairman: Dr Nkateko Munisi

Monitors anti-corruption and employment equity policies

Monitors all executive actions related to the Group's standing as a responsible corporate citizen

Monitors the Group's Code of Ethics, and investigates, resolves and reviews any matters which may violate the Code of Ethics

Remuneration Committee

Chairman: Joe Madungandaba

Recommends the remuneration policy to the Board for approval

Approves the remuneration report for disclosure as per King IV

Determines and monitors the remuneration and contractual terms of the Executive Directors and Group Executive Committee members

Nomination Committee

Chairman: Dr Anna Mokgokong

Responsible for nomination, election, succession planning and Board appointments

Oversees the development of a formal induction programme for new directors

Evaluates the Board and examines the skills and characteristics required of Board candidates

 

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