Our approach to governance

The MultiChoice Group is committed to the highest standards of corporate governance, ethics and integrity, which we believe support our ability to create value for all stakeholders. We continue entrenching the principles of sound corporate governance throughout our multinational organisation, applying appropriate ethics and standards in the conduct of our business affairs. The board understands and accepts its responsibility to safeguard and represent the interests of the group’s stakeholders to create a successful and sustainable business that delivers on the group’s strategic objectives.


The board is the custodian of the group’s corporate governance. The board and its committees, as well as the boards and committees of its subsidiaries, are responsible for ensuring the appropriate principles and practices of King IV are applied and embedded in the governance practices of group companies.

A disciplined reporting structure ensures the board is fully apprised of subsidiary activities, risks and opportunities. All controlled entities in the group are expected to demonstrate good governance as set out in King IV, taking into account proportionality considerations. This means the practices needed to demonstrate the group’s governance in terms of King IV are applied across the group as appropriate. The companies within the group are diverse and at different maturity stages and thus a one‐size‐fits‐all approach cannot be followed when implementing governance practices. While good governance principles apply to all types and sizes of organisations, the practices implemented by each organisation to achieve the principles are tailored to each unique entity. Practices are implemented as appropriate to give effect to overarching good governance principles. As part of the internal annual CEO/CFO sign‐off process, businesses across the group are requested to confirm that they have aligned their policies to the MultiChoice Group policies which set out the minimum standards across all jurisdictions.

Business and governance structures have clear approval frameworks that are reviewed on an annual basis and aligned to the group levels of authority approved by the board annually. The board is satisfied that the delegation of authority framework contributes to role clarity and the effective exercise of authority and responsibilities. In relation to assessing corporate governance services, the MultiChoice Group has an internal company secretariat function, and an annual assessment of the company secretary’s performance, qualifications and skills is undertaken.


The board recognises the link between effective governance, sustainable performance and the creation of long-term value for all its stakeholders. The board is committed to the principles of transparency, integrity, fairness and accountability, and recognises the need to implement good corporate governance principles. The board applies the principles of King IV, which forms the cornerstone of our approach to governance. We support the overarching goals of King IV, being:

A thorough and comprehensive review was conducted in relation to each principle and underlying recommended practice under King IV. In terms of the JSE Listings Requirements, the MultiChoice Group is required to report against the application of the principles of King IV. In line with the overriding principle in King IV of ‘apply and explain’, the board, to the best of its knowledge, believes the group satisfactorily applied the principles of King IV, with 100% of the principles being applied and all of the recommended practices which are considered appropriate by the board having been adopted.

The group continues developing its governance policies, practices and procedures in line with an integrated governance, risk and compliance framework. The board is satisfied every effort was made in the year under review to apply all material aspects of King IV, where appropriate and relevant. The group continues entrenching and enhancing its understanding and application of the practices and principles of King IV.

For a more detailed review, see the King IV application report on our website https://www.multichoice.com/investors/governance/.