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Corporate Governance
Our Board of Directors serves as the focal point and custodian of corporate governance for the organisation.
How it performs its duties sets the tone for ethical and effective leadership and it endeavours to embody the characteristics of integrity, competence, responsibility, accountability, fairness and transparency.
The SANBS Board is satisfied that it has fulfilled its responsibilities under the Companies Act, the Board Charter, King IV and other applicable regulatory and legislative requirements.
Corporate Governance Aligned to King IV Principles
The King Report on Corporate Governance, Revision IV (2016) from the King Committee on Corporate Governance underpins SANBS' governance approach and the corporate governance principles and practices which inform this.
In particular, we align our business with the principles of King IV across the following categories:
We believe that Corporate Governance is key to:
Trusted Reputation
A social licence to operate - an admired and respected reputation that builds trust with our stakeholders
Robust Governance Systems
Effective control by the board is supported by the necessary systems and controls for effective governance, (e.g. systems for ethics, stakeholder management, risk compliance, and assurance).
Values-Driven Culture
An ethical organisational culture that inspires living by the values of the organisation
Value Creation
Consistently high levels of performance that create value for SANBS and our stakeholders
Our Code of Ethics
We are committed to conducting ourselves in line with our Code of Ethics. This code provides guidelines to employees for their actions and serves as a declaration of the highest standards of ethics and integrity, in line with our THREAD Values (Transparency, Honesty, Respect, Excellence, Accountability, and Diversity).
1.1 Integrity and honesty to guide their daily actions.
1.2 Due diligence and proficiency in all business activities.
1.3 Compliance with all legal and regulatory requirements.
1.4 Prohibition from soliciting or accepting anything of value including gifts, entertainment, or other favours from any supplier or other stakeholder of SANBS unless such acceptance is disclosed.
1.5 Acceptance of staff gifts only as a tool of trade and a celebration of a specific achievement.
2. We want Employees to ensure we are a Customer Focused Organisation
2.1 Provide the highest standard of service to stakeholders and maintain a helpful and cooperative attitude towards them.
2.2 Respect and protect the privacy and confidentiality of our stakeholders, and to not disclose any information about SANBS or our stakeholders unless such disclosure is compelled by law or regulatory authorities.
3. We Promote Transparency and Expect Employees to Manage Conflicts of Interest
3.1 Ensure that our personal interests do not conflict with our duties within SANBS.
3.2 Maintain factual and complete records to promote the highest degree of integrity.
3.3 Obtain the necessary approvals before publicly representing self or submitting work for publication.
4. We Want Employees to Protect & Manage SANBS’s Assets
4.1 Employees are responsible for safeguarding SANBS physical assets and intellectual property and must report any fraud or theft of such property immediately.
5. We Are an Equal Opportunity Employer and Promote Equality and Meritocracy
5.1 We treat all our employees, stakeholders, suppliers and others with respect and dignity and value their individual differences.
5.2 SANBS shall not tolerate any act of discrimination against any person on the basis of race, religion, colour, gender, age, marital status, national/ethnic origin, sexual orientation, citizenship or disability.
6. We Are Committed to Creating & Maintaining a Safe Work Place
6.1 SANBS has zero tolerance for any form of abuse against any employee or property.
6.2 SANBS fosters the well-being and health of its employees and prohibits the use of illicit substances.
6.3 SANBS staff shall at all times obey all health and safety rules.
7. Observance of Code
7.1 It is the duty and responsibility of each employee to understand and adhere to the principles provided in this Code and any violation will be addressed as per the relevant policy.
The THREAD that brings us together
Transparency
Honesty
Respect
Excellence
Accountability
Diversity
T-H-R-E-A-D sits at the heart of all our decisions and our strategy. We all have the responsibility to strive to live our values and be better tomorrow than we are today.
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