| Introduction |
Corporate governance entails the accountable and transparent governance of the Group’s structures and systems within an ethical framework that will promote responsible consideration of all stakeholders.
The board and the individual directors have long recognised that good corporate governance is compatible with and mutually dependent on strong leadership. The board is committed to conforming to good corporate governance processes that will complement Bidvest’s entrepreneurial flair. This commitment involves leading the enterprise with integrity and in compliance with international practices, whilst taking cognisance of the value systems of the countries and communities in which it operates.
The decentralised, entrepreneurial and incentivised environment in which the Group operates called for governance processes to be considered, implemented and embedded into the Group structure, through the introduction of the Group governance policy. This serves to guide all operations within the Group in applying corporate governance practices at their respective levels within the Group. |
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| Corporate code of conduct |
The board, its committees, individual directors, officers of the Group and senior management acknowledge their responsibility to ensure that the principles set out in the code of conduct are observed.
Bidvest, through its corporate code of conduct, is committed to: |
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the highest standards of integrity and behaviour in all dealings with stakeholders and society-at-large; |
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conducting business based on fair commercial competitive practices; |
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trading with customers and suppliers who subscribe to ethical business practices; |
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non-discriminatory employment practices and the promotion of employees to realise their potential through training and development of their skills; and |
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being proactive towards environmental, social and sustainability issues. |
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| Code of ethics |
The Group has adopted a code of ethics that ensures business practices are conducted in a manner that is beyond reproach. The code of ethics is promoted across the Group and clearly states the acceptability of business practices by guiding policy and providing a set of ethical corporate standards that will encourage ethical behaviour and decision making of the board, managers and employees at all levels.
The code will guide and sensitise ethical infringements, whilst specifying the enterprise’s social responsibility towards stakeholders.
The board has been proactive in identifying the following aspects and has pursued a process in each division for the: |
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regular and formal identification of ethical risk areas; |
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development and strengthening of monitoring and compliance policies, procedures and systems; |
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establishment of easily accessible, safe reporting (whistle blowing) channels; |
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alignment of the Group’s disciplinary code with its code of ethical practice; |
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integrity assessment as part of selection and promotion procedures; |
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induction of new appointees; |
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training on ethical principles, standards and decision making; |
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regular monitoring of compliance with ethical principles and standards using the internal audit function; |
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reporting to stakeholders on compliance; and |
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independent verification of conformance to established principles and ethical behaviour. |
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| Corporate style, values and ethics |
| Bidvest’s corporate value system promotes: |
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Accountability to our employees and shareholders |
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Acquisitiveness to expand and grow the business |
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Decentralisation to put decision making close to the customer |
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Entrepreneurship to find innovative ways to grow the business |
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Equal opportunity to perform and be rewarded |
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Fairness in our interactions with stakeholders |
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Honesty in all our dealings with our stakeholders |
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Innovative in our business practices |
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Respect for human dignity, human rights and social justice for the dignity and rights of people and for the environment |
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Service excellence to provide a compelling place to work and do business |
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Transparency in maintaining open lines of communications with our stakeholders |
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