Governance philosophy and approach

Entrepreneurship and innovation underpinned by good governance.

The philosophy of the Group is that good corporate governance provides an essential platform upon which to achieve its strategic objectives through the pursuit of the entrepreneurial and innovative ethos of the Group. The Board recognises that good corporate governance is essentially about effective and responsible leadership that rests on a foundation of ethical values.

King IV and Blue Label Telecoms

The Group favours the outcomes-based approach of King IV that focuses on the quality of governance outcomes and not simply the structural and compliance approach. The Board has used the King IV principles to continuously review, revitalise and streamline its governance structures and practices to the requirements of the expanding Group. The most appropriate recommended practices and adaptations have been applied in achieving the outcomes-based principles of King IV. The Board Charter and subcommittee terms of reference and work plans have been substantially aligned with King IV practices and a number of policies, practices and processes are continuously reviewed and enhanced as to appropriateness and robustness, as outlined in this report on an ongoing basis.

The disclosure requirements of King IV have been provided throughout this report and explain the Group's governance philosophies, structures, practices and outcomes in adopting and embracing the principles of King IV.

Current year Board focus and future focus

The focus of the Board in the current year has been on restructuring the business to focus on core operations, to reduce debt, improve cash generation and ready the Group for implementing programmes that return value to shareholders through dividend and share buy-back programmes. The Board and its committees have put significant effort into improving the effectiveness of governance, risk management, the control environment, liquidity and cost management at Cell C. The Board has also ensured that the disposals of Blue Label Mobile and the handset division of 3G were successfully concluded and spent significant time on improving governance, regulatory, compliance and security protocols within the Blue Label Group. The Board maintained oversight of the executives' impressive management of the COVID-19 crisis. The Group managed to ensure that the majority of our products and services were made available through the Group's multi-channel approach to distribution.