The six sub-committees of the board have oversight of the following broad areas of the business: investment; health, safety and environment; audit and risk; social, ethics, human resources and transformation; remuneration and nomination.

In terms of the group governance framework the discipline of governance is driven from the top down, facilitating devolution of responsibility and avoidance of duplication, whilst ensuring clarity of the relationship between the group and its subsidiaries. The board is the custodian of the group governance framework.

Group governance framework

Group governance framework [graph]

Board Charters

The board's responsibility

The board is ultimately accountable for the performance and reputation of the group, ensuring that it continues to operate responsibly, ethically and sustainably. The board operates in terms of a board charter which defines its mandate, functions and responsibilities, some of which are illustrated below.

Strategy and ethical culture
● Set and steer the group’s strategic direction and culture
Management
● Ensure an effective and competent management team is in place, along with clear succession plans for this team
Stakeholder management
● Adopt a stakeholder inclusive approach and manage key stakeholder relationships
Governance and assurance
● Facilitate an effective governance environment and ensure that the company’s assurance services and functions enable an effective control environment
● Oversee relationships with assurance providers
Responsible corporate citizenship
● Ensure that the group is a responsible corporate citizen and that its responsible corporate citizen approach aligns with its sustainability policies and overall strategy
Risk and compliance
● Ensure the group complies with all relevant legislation, regulations, policies and statutory obligations
● Assume responsibility for the governance of risk and ensure that risks are monitored and managed by the company and its subsidiaries
Performance and Information Technology
● Monitor operational performance and ensure accountability
● Review and monitor the adequacy of the information and technology function, architecture, policy, strategy and risk management