35 / 96
People
– We acquired new specialist skills and
augmented the capacity of our assurance, risk
management and compliance functions. With the
introduction of specialists, we significantly increased
the capability of the group function to meet the
current and future needs of MTN.
Methods and practices
– We implemented new
tools, policies and frameworks to enhance the
efficiency, effectiveness, co-ordination and reporting
of assurance and risk management activities.
During 2017, the focus of the implementation of our
transformation roadmap will shift to our operating
companies, where we will continue to ensure the
following:
•
The right tone at the top, both at Group level and
at all operating units and entities.
•
Clear measures of success and regular and
robust monitoring of performance.
•
Strong relationships at all levels of the business.
Business continuity management and
crisis risk management
Our Group-wide BCM programme is gaining
momentum and made significant progress during
the year. We will continue to focus on the programme
in order to enhance the level of maturity of our
business continuity activities.
Our BCM approach leverages on industry best
practice and standards, including ISO 22301
standards for BCM and the Business Continuity
Institute Good Practice Guidelines, and ensures that
we put in place adequate measures to protect our
business brand and reputation and comply with
statutory regulatory and contractual obligations. In
addition, we are extending our BCM programme to
enhance our business resilience.
During the year, we developed and implemented a
Group-wide crisis management plan to deal with
crisis events. With the establishment of new crisis
management structures, we are able to respond to
any crisis event in a structured and efficient manner.
This aims to improve our capability to respond to
and manage crisis events across the MTN Group.
Insurance and risk transfer
The MTN insurance programme is built around the
close connection between risk management and
insurance using an annual assessment of risk
management at each operating company.
To achieve this, there is a strong commitment to the
risk management assessment process, improving
operational management’s adoption of risk
management best practices and to reduce risks
across the entire insurance programme.
We have an insurance programme in place that
covers perils such as physical/material damage,
business interruption, political risk, public liability,
directors’ and officers’ liability, cyber liability, crime
and professional indemnity. The limits of indemnity
for these covers have been structured to ensure that
MTN has adequate cover for its risks but at the same
time ensure that the Group gets maximum value
from the programme and that premium spend is
efficient. We believe that risk retention and self-
insurance are necessary to keep premiums at
reasonable levels and show commitment towards
risk management. Our retention levels differ from
policy to policy, guided by the nature of the risk
being transferred. We also have a combination
of cell captive structure, Multilateral Investment
Guarantee Agency cover and Export Credit
Insurance Guarantee Agency cover for some of the
other insurance risks.
Information and technology
governance
We at MTN acknowledge that information and
technology are integral strategic assets to enable
the delivery of “a bold new Digital World” to our
customers. The Group’s commitment to sound
governance is supported by the ongoing activities
and efforts in embedding the King Code of
Corporate
Governance
principles
and
recommendations, with specific focus on technology
governance through the establishment of various
responsibilities, processes and supporting
governance structures.
We significantly enhanced our Group information
security function in the year with the appointment of
a Group information security officer and approval of
a more fit-for-purpose structure. We developed a
new security approach, which we are busy
implementing. It aims at using security as an enabler
to business, by creating trust in the Digital World
through new investments for a secured future in
order to proactively manage cyber and privacy risk.
MTN Group Limited
Integrated Report 2016
33
STRATEGIC
OVERVIEW