Rand Water | Integrated Annual Report 2025

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THEME OF OUR 2025 INTEGRATED REPORT3
CONTENTS4
2025 NOTABLE PERFORMANCE ACHIEVEMENTS6
INTRODUCING OUR INTEGRATED REPORT8
FOREWORD BY THE MINISTER OF WATER AND SANITATION12
ABOUT RAND WATER14
OUR MANDATE14
OUR STRATEGY16
ALIGNMENT TO DEVELOPMENTAL PLANS18
OUR ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) CONSIDERATIONS20
RAND WATER VALUE CREATION MODEL26
OUR STAKEHOLDERS AND STRATEGIC PARTNERS28
HOW WE MANAGE OUR RISKS30
REPORT FROM THE CHAIRPERSON OF THE BOARD34
OUR GOVERNANCE AT A GLANCE36
BOARD OF DIRECTORS42
RAND WATER BOARD MEETING ATTENDANCE52
RAND WATER BOARD COMMITTEES52
EXECUTIVE COMMITTEE62
KING IV PRINCIPLES APPLICATION 202564
GROUP CHIEF EXECUTIVE’S REVIEW70
CREATING VALUE THROUGH OUR SIX CAPITALS74
CORPORATE KPIs PERFORMANCE ALIGNED TO OUR CAPITALS74
FINANCIAL CAPITAL90
GROUP CHIEF FINANCIAL OFFICER’S REPORT92
FINANCIAL RISK MANAGEMENT100
CREDIT RISK MANAGEMENT102
STRATEGIC PROGRAMMES IN FINANCE104
RAND WATER PROVIDENT FUND104
PFMA COMPLIANCE REPORT108
HUMAN CAPITAL112
SOCIAL AND RELATIONSHIP CAPITAL124
MANUFACTURED CAPITAL136
MAINTAINING OUR INFRASTRUCTURE (INFRASTRUCTURE AUGMENTATION)138
WATER CONSERVATION AND DEMAND MANAGEMENT142
NATURAL CAPITAL146
ORGANIC CONTAMINANTS152
PROTECTING OUR NATURAL CAPITAL156
COMPLIANCE TO THE ENVIRONMENTAL LEGISLATION158
INTELLECTUAL CAPITAL160
OUR GOVERNING PRINCIPLES170
INDEX172
STATEMENT OF RESPONSIBILITY BY THE BOARD174
REPORT OF THE GROUP AUDIT AND RISK COMMITTEE174
BOARD REPORT188
REMUNERATION REPORT206
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025210
STATEMENT OF COMPREHENSIVE INCOME212
SUMMARY OF PRINCIPAL ACCOUNTING POLICIES AND SIGNIFICANT JUDGEMENTS (CONTINUED)226
NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS242

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