Governance at Spescom has always been founded on the Company’s business ethos coupled with a commitment to the highest ethical standards. The Board of Directors subscribes to the Code of Corporate Practices and Conduct (the Code) as contained in the King Report on Corporate Governance for South Africa 2002 (King II), and the Company complies in all material respects with the recommendations contained in the Code unless otherwise disclosed in its annual report.

 

Spescom is mindful of the growing requirements and best practice in corporate governance expected of companies in South Africa, more particularly those which are envisaged within the new Companies Act 2008 and the King III Report. Accordingly, the Group continuously reviews its performance against these changes, striving to ensure levels of compliance both at a strategic and at operational levels.

 

The King Report on Corporate Governance for South Africa 2009 (King III) came into effect on 1 March 2010 and Spescom's Board of Directors is committed to application of relevant recommendations where appropriate.

 

Ongoing development of organisational capacity in the areas of corporate governance and enterprise risk management ensures Spescom's operational and financial performance, and interactions with stakeholders, are always underpinned by strong ethical leadership.

 

This committment is underscored by Spescom Limited's move to become a Silver Patron of the Corporate Governance Framework (CGF) Research Institute which provides governance, risk and compliance reporting and advisory services. This strategic alliance will enable Spescom to transfer important governance, risk and compliance related information to its four divisions, enabling them to remain informed about important governance related issues while also benefiting Spescom’s customers.