Blue Label’s philosophy is that good corporate governance provides an essential platform to achieve its strategic objectives through the pursuit of entrepreneurial and innovative ethos. The Board recognises that good corporate governance is essentially about effective and responsible leadership that rests on a foundation of ethical values.
Blue Label favours the outcomes-based approach of King IV, which focuses on the quality of governance outcomes and not simply on a structural and compliance approach. The Board applies the King IV principles to continuously review, revitalise and streamline its governance structures and practices in accordance with the Group’s requirements. The most appropriate recommended practices and adaptations have been applied to achieving King IV’s outcomes-based principles.
The Board Charter and subcommittee terms of reference and work plans have been substantially aligned with King IV practices and policies. Practices and policies are continuously reviewed and enhanced to ensure appropriateness and robustness, as outlined throughout this report.
The disclosure requirements of King IV have been provided throughout this report and explain Blue Label’s governance philosophies, structures, practices and outcomes in adopting and embracing the principles of King IV.
The focus of the Board in the current year remains the restructuring of the business to focus on core operations, reduce debt, improve cash generation and prepare Blue Label for implementing programmes that return value to shareholders. The Board and its Committees allocated significant effort into closely monitoring improvements in governance, risk management, the control environment, liquidity and cost management at Cell C. The Board also devoted much energy to improving governance, regulatory, capital allocation, compliance and security protocols within the Blue Label Group.
Following the initial baseline gap analysis and materiality assessment of sustainability matters performed in 2023, including environmental, social and governance (ESG) matters, we have continued our journey in developing and integrating sustainability and ESG into our governance, risk management, strategy and performance management, including remuneration, processes and structures. Our continued progress along our sustainability reporting journey is set out in relevant sections of this integrated report. We will endeavour to align our sustainability disclosures to global and local reporting standards, frameworks, guidelines and best practices, and meet any applicable future regulatory reporting requirements as required.
Blue Label Integrated Annual Report 2024
