CORPORATE GOVERNANCE
The dawn of democracy in South Africa in 1994 sought to achieve growth which among other key aspects, could fund expanded social services and increased employment. At ETL we realise that to attain higher growth, South Africa will need to increase the mobilisation of both domestic and foreign capital, as well as use that capital more efficiently. Seen in this light, good corporate governance impacts both on stability and growth prospects. Corporate governance in private limited companies is an often-ignored topic as it is not mandatory by law.
At ETL we approach Corporate Governance differently. Corporate Governance encompasses much more than shareholder rights. Corporate governance includes rights of investors, financial institutions, customers, suppliers, employees and society.
To this end, ETL applies the following principles underlying the King III report on Corporate Governance:
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Ethical leadership and corporate citizenship
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Efficient functioning of the Board
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Establishment of audit, finance, risk and remuneration committees
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The appropriate use of information technology
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Compliance with the laws, codes, rules and standards
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Conducting internal audits
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Governing stakeholder relationships
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Integrated reporting and disclosure
