The implementation of sound corporate governance practices has been an integral part of the group’s business operations for many years, with changes and refinements being made from time to time to recognise international trends and best practices, where appropriate.

The group has a written Code of Business Ethics and Professional Management Practices, with which all directors and employees are required to comply. The codes require all officers and employees to act with honesty and integrity and to maintain the highest ethical standards. The group adopts a zero tolerance approach to theft, fraud and the offering of bribes or favours.

The board fully endorses the King Code of Governance Principles as set out in the King Report on Governance for South Africa 2009 (King III) and every effort has been made to apply these principles where required.