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Governance philosophy and approach
Entrepreneurship and
innovation underpinned
by good governance
The philosophy of the Group is that
good corporate governance provides
an essential platform upon which to
achieve its strategic objectives through
the pursuit of the entrepreneurial and
innovative ethos of the Group. The
Board recognises that good corporate
governance is essentially about
effective and responsible leadership
that rests on a foundation of ethical
values.
King IV and Blue Label
Telecoms
The Group favours the outcomes-
based approach of the King IV Report
on Corporate Governance for South
Africa 2016 (King IV) that focuses on
the quality of governance outcomes
and not simply the structural and
compliance approach. The Board
sees the adoption of King IV as an
opportunity to review, revitalise and
streamline its governance structures
and practices to the requirements of
the expanding group. A process is
currently under way to review the
most appropriate recommended
practices and adaptations to be
applied in achieving the outcomes-
based principles of King IV. Based on
this review an implementation plan
will be determined to fully transition
the Group to the desired application
of King IV.
In the interim the disclosure
requirements of King IV have been
adopted in this year’s integrated
report, as far as possible, and explain
the continuation of robust governance
principles and practices adopted under
King III and some of the transitional
initiatives to adopting King IV.
Current year Board focus and
future focus
The focus of the Board in the current
year has been on continuing
development and maturing of the
risk management and compliance
of the Group as it expands both
organically and through acquisitions.
While focus was maintained on the
core operations, intensive Board
attention has been placed on the
acquisition of 3G Mobile and the
45% interest in Cell C.
Further focus will be placed on
overseeing the integration and synergy
plans relating to these acquisitions.
With the broadening footprint and
scale of the Group’s operations
continued attention will be paid to
further developing the governance
framework for Group companies and
investments to ensure that adequate
strategic direction and oversight is
placed on these investments.
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
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