Governance Framework and Accountability (Group Governance)
In pursuance of its ongoing commitment to ensure that the group is managed in an efficient, responsible and ethical manner and in the interests of all its stakeholders, Illovo remains committed to achieving the highest standards of corporate governance and corporate citizenship, by adhering to the relevant codes of best practice, principles of fairness, accountability, responsibility, transparency and integrity.
Our governance framework is structured to ensure compliance with the laws, regulations and codes of best practice applicable
in all the countries in which we operate, including the South African Companies Act 2008 and Companies Regulations 2011 and the requirements of King IV.
As more fully reported in the Social and Ethics Committee Report, in accordance with the South African Companies Regulations, the Illovo group is guided by the UN Global Compact Principles, the OECD recommendations regarding corruption and the ILO Protocol relating to working conditions.
GROUP STANDARD TRADING CONDITIONS AND OTHER DOCUMENTS
All procurement by companies in the Illovo Group is subject to the terms of the relevant Group company's standard trading conditions (“STCs”) appearing in this section, unless otherwise agreed to in writing by the relevant Group company.
These STCs may be amended by each of the said companies from time to time.