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commitment to enterprise development
facilitates job creation and economic growth,
which ultimately ensures social upliftment in
local communities.
Sustainability
Our sustainable development framework links
to our risk management processes, which in
turn integrate financial and non-financial risk
identification, management and monitoring.
While the board is responsible for the integrity
of integrated reporting, the audit committee
has been tasked to oversee sustainability
reporting to ensure the information is reliable
and aligned with financial results. This report
illustrates our commitment to sustainability
and focuses on projects that address social
and environmental issues. Some of our more
significant initiatives focus on education,
skills development, community outreach and
environmental sustainability. We aim to play
a role in improving the living conditions of our
employees, their families and the communities
in which we operate, ultimately balancing
profit, people and our planet.
Governance
The board oversees the strategic direction of the
company, with oversight vesting in the audit and
risk committees, and is ultimately responsible
for the group’s performance. The responsibility
for implementing strategy is delegated to
management. Governance and sustainability
are integral to our strategic implementation and
essential to the interests of our stakeholders.
The group continually evaluates areas where
governance can be improved.
Regulatory
Our strategy formulation and implementation
are affected by regulatory developments,
such as the Communications Ministry’s review
of the broadcasting sector and the proposed
amendments to copyright legislation and
the Film and Publications Act. In addition,
the Independent Communications Authority
of South Africa (Icasa) is conducting an
inquiry into the state of competition in
the broadcasting sector. Matters before
competition authorities remain a key focus
and that, together with regulatory challenges,
is placing increasing demands on senior
management’s time.
An internal review on the ANN7 contract
and MultiChoice’s lobbying efforts was
undertaken and completed by the audit and
risk committees of the MultiChoice board. No
irregularities were found, but in the absence of
national guidelines on lobbying and interaction
with regulators and government, formalisation
of MultiChoice’s lobbying process has been
Executive chair
’
s review
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MultiChoice South Africa Holdings Proprietary Limited
Integrated annual report 2018
Review
(continued)