INTEGRATED ANNUAL REPORT FOR PHUTHUMA NATHI INVESTMENTS (RF) LIMITED

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64 MultiChoice South Africa Holdings Proprietary Limited
Integrated annual report 2018
Corporate governance review
Business and governance structures have
clear approval frameworks. Compliance and
progress are monitored jointly by the risk and
audit committees and reported to the board.
In the review period, we effected system and
process changes to align the group to
King IVTM’s principles.
A comprehensive analysis of our governance
framework against King IVTM shows that the
group complies with all key elements. Minor
instances of non-compliance are either not
applicable or under consideration.
Our full King IVTM register can be found on our
website.
Business ethics
Our code of business ethics and conduct
appears on our website under the corporate
governance tab in the About us section.
This code is reviewed annually and applies
to all directors and employees in the group.
Ensuring group companies adopt appropriate
processes and establish supporting policies
and procedures is an ongoing process.
Management focuses on policies and
procedures that address key ethical risks,
including potential conflicts of interest,
accepting and giving inappropriate gifts
(including entertainment) and unethical
business conduct. A key area of focus in
the reporting period was the creation of
awareness and continued integration of the
code of ethics and business conduct in the
business. Planned future focus areas include
improved reporting to the board and audit
committee.
MultiChoice is focused on sound corporate
governance and effective leadership. The
board conducts the group’s business with
integrity by applying appropriate corporate
governance policies and practices.
MultiChoice is a subsidiary of Naspers
Limited, listed on the JSE Limited’s stock
exchange (JSE) and London Stock Exchange
(LSE). As such, MultiChoice complies with
the JSE Listings Requirements, as well as
legislation for public companies in South
Africa (where applicable to a subsidiary of a
JSE-listed company) and the guidelines of the
King IVTM Report on Corporate Governance
in South Africa 2016 (King IVTM). Compliance
with the applicable JSE and LSE listings
requirements is monitored jointly by the
risk and audit committees of the board.
Our independent board of directors has its
own governance practices and committees
that comply with relevant governance and
regulatory requirements. The board’s audit,
risk, and remuneration and equity committees
fulfil key roles in ensuring good corporate
governance in the group. We use
independent external advisers to monitor
regulatory developments, locally and
internationally, to enable management to
make recommendations to the board on
matters of corporate governance.
Application of King IVTM
A disciplined reporting structure ensures
the MultiChoice board is fully apprised of
subsidiary activities, risks and opportunities.
All controlled entities are required to subscribe
to the relevant principles of King IVTM.
Our approach to governance