RAND WATER ANNUAL REPORT 2023

KING IV PRINCIPLE

APPLY AND EXPLAIN

7. The governing body should comprise the appropriate balance of knowledge, skills, experience, diversity,

The percentage of women serving on the Board of Rand Water is 46%, and 54% males.

The Board members have vast skills and experience in the fields of Governance & Compliance, Law, Accountancy and Finance, Audit and Risk Management, Strategic Management, Business Management and Administration, Project Management, Public Finance Management and Administration, Human Capital Management, Business Process Re-Engineering, Marketing and Communication, Engineering, Infrastructure management, Water management, Assets Management, and Environmental management.

and independence for it to discharge its governance role and responsibilities objectively and effectively.

Except for the CE, all members are non-executive members.

Refer to “How Rand Water is Governed” section of the IAR (page 34).

8. The governing body should ensure that its arrangements for

Accordingly, the Board has set clear governance structures that indicate the role players and their responsibilities throughout the organisation. As a custodian, the Company Secretary has been entrusted by the Board to ensure that a balance of power exists through a hierarchical layout that consists of the CE, Management, and various Committees. The Board has delegated particular roles and responsibilities to the following committees: • Group Audit and Risk Committee, • Social and Ethics Committee, • Human Resources and Remuneration Committee, • Treasury and Capital Investment Committee, and • Nominations Committee.

delegation within its own structures

promote independent judgement and assist with balance of power and the effective discharge of its duties.

Refer to “How Rand Water is Governed” section of the IAR (page 34).

9. The governing body

The Board has undertaken this process in its stride by reconfiguring its Committees and reviewing its DoA Framework. The Board has also included in its assessment, an outline of all Board related matters, the extent of delegations to be given to the CE, and other Committees.

should ensure that the evaluation of its own performance and that of its committees, its chair and its individual members, support continued improvement in its performance and effectiveness.

Refer to “How Rand Water is Governed” section of the IAR (page 34).

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