69 / 108
relationships, the environment, health and public
safety and labour and employment matters.
Monitoring, oversight and risk
management
MTN’s corporate governance structure ensures
effective internal controls and monitors the
management of significant matters. The audit
committee, as well as the risk management,
compliance
and
corporate
governance
committee provide an environment in which
challenging issues can be considered and
monitored.
As required by principle 11 of King IV, the strategic
and operational risk management framework of
the company focuses on various risks that could
affect the company’s customer experience,
operational agility, cost competitiveness and
stakeholder confidence. This is done through a
robust risk methodology that analyses not only
what the company does, but also how it is done, to
guarantee sustainable economic viability, make
the most of market opportunities and serve a
rapidly changing market.
Performance management
The board stresses the importance of promoting
a healthy workplace environment which
embraces ethics and compliance through
established policies based on the values of
integrity, leadership, innovation, relationships
and ‘can do’ as well as the vital behaviours. It
promotes targeted results in a transparent and
systematic manner which ensures that the
company’s employees are productive, provide
efficient services and demonstrate the required
knowledge, skills, behaviour, competencies and
engagement to perform their duties to the best
of their ability.
MTN’s remuneration philosophy is aligned to
the BRIGHT strategy and directly linked to each
employee’s key performance indicators (KPIs).
These KPIs are measured through the
performance management system. In 2018,
MTN will provide shareholders with an
implementation report to illustrate how the
remuneration philosophy for directors and
prescribed officers is implemented.
Like any organisation, there are instances of
unsatisfactory employee performance; however,
MTN endeavours to address such issues
expeditiously through internal company
procedures in line with the disciplinary process
and its performance management system.
Disclosure, reporting and
transparency
Disclosure, reporting and transparency are
fundamental components of MTN’s corporate
governance framework. The company aims to
be transparent and accountable to stakeholders
to enable them to make an informed decision
about their association with MTN.
MTN endeavours to provide timeous disclosure,
especially regarding material issues, the company
continues to review its policies and procedures
that govern the provision of timeous, correct and
complete information to stakeholders. MTN
endeavours to provide information in a manner
which gives all stakeholders equal access and
ensures that there is no stakeholder that is treated
favourably over others.
In 2017, the board re-emphasised that all matters
must be provided to stakeholders in compliance
with the law and applicable regulations.
Accordingly, MTN strives to disclose material or
price-sensitive information in a readily
understandable language, to stakeholders, the
public and regulators.
Stakeholder engagement and
communication
The board values MTN’s stakeholders and
endeavours to take their concerns and interests
into account when making business decisions.
This not only enables it to anticipate and manage
risk effectively, but also assists the company in
identifying new business opportunities and in
establishing solid relationships with MTN’s
stakeholders. It also makes it easier for the
company to deliver on its objectives and benefit
from ideas for products or services that address
stakeholder needs, and at the same time allows
MTN to reduce costs and maximise value. In order
to ensure greater accountability, the company has
a stakeholder-conscious governancemodel which
places emphasis on dialogue and responding to
stakeholder concerns and interests.
Governance, people
and remuneration
MTN Group Limited
Integrated Report 2017
67