Ethical culture The board is committed to entrenching an ethical culture throughout the group and sets the tone by formulating our values and ensuring ethical business standards. The directors, overseen by the chair, hold one another accountable for decision-making and ethical behaviour. Directors, both individually and collectively, seek to demonstrate integrity, competence, responsibility, accountability, fairness and transparency to ensure effective leadership. Management teams across the business understand and apply the code, and create and maintain awareness of the code and associated MultiChoice Group policies, such as the legal compliance, anti-bribery and anti-corruption, competition and whistleblower policies. Reference to the code is included in new employees’ contracts and in their induction process. The code applies to the recruitment, performance evaluation and reward processes. Management teams are required to monitor adherence to the code and apply a zero-tolerance approach to violations. Sanctions are in place and action is taken when necessary, which includes prosecution to the fullest extent of the law when appropriate. The code is also included in third-party procurement contracts of certain major subsidiaries. Contractors, agents, suppliers and consultants who work with us are expected to be aware of and adhere to the code and comply with the MultiChoice Group’s policies. Management focuses on implementing the code, policies and procedures addressing key ethical risks, such as con icts of interest, gifts, entertainment, travel, political contributions, bribes, fraud, money laundering and acceptable business conduct. MultiChoice SA applies the code regarding con ict of interest and political contributions. The group ethics of cer assesses the ethics opportunities and risks on a 12 to 18 month basis. The ethics risk assessments provide a clear understanding of unethical behaviours and practices that could pose a signi cant risk, and highlight opportunities related to ethics that can be further capitalised. Ethics activities, as well as the current state of ethics are regularly monitored and reported on to the relevant governance structures that oversee the group’s ethics management. Ethical breaches where allegations have been con rmed as substantiated or partially substantiated, following investigations conducted, are reported to the board’s social and ethics committee. The social and ethics committee assumes responsibility for the governance It is our policy to conduct business dealings on the basis of compliance with applicable laws, rules, codes, standards and regulation, and proper regard for ethical business practices. The board sets the ‘tone at the top’ by formulating our values and ensuring that ethical business standards are integrated into the group’s strategies and operations. The MultiChoice SA board endorsed and adopted the MultiChoice Group’s code of ethics and conduct policy (the code). The code acts as the ethical constitution or moral compass of the group. It sets the ethical standards beyond the law and regulations. It contains the group’s values and expectations regarding the conduct expected from employees. Ethics-related policies are formulated and updated in support of the code. The code is communicated to internal stakeholders, as well as to relevant external stakeholders, and is supported by a wide range of group policies. For more information, refer to https://www.investors. multichoice.com/policies-and-charters.php Entrenching an ethical culture Overview Introduction Understanding Phuthuma Nathi Understanding MultiChoice SA MultiChoice SA performance Financial review Corporate governance review Shareholder information Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 91
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