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Corporate Governance

Statement of Corporate Governance

The Board of SacOil strives to promote the highest standard of corporate governance by supporting the principles of good governance as outlined in the Code of Corporate Practices and Conduct as recommended by the King III Report on Good Governance for South Africa.

Good governance includes the structures, processes and practices that the Board uses to ensure its oversight function over the operations of SacOil.

The Board, its sub-committees and employees are committed to the principles of transparency, accountability, integrity and fairness in the conduct of its business affairs.

To ensure adherence to good governance the Company remains vigilant in adhering to developments in this arena and improvements are made where deemed appropriate. The Company’s governance practices are continuously improved to ensure alignment with internal developments and shifts in legislation, regulations and trends. 

Application of Codes of Governance

The Company applies the the principles of good governance as recommended by the King III Report on Good Governance. 

Read more: King III Index