OUR GOVERNANCE APPROACH

In line with the Airports Company Act, ACSA’s mandate includes the acquisition, establishment, development, provision, maintenance, management, operation and control of any airport, any part of any airport, or any facility or service at any airport normally related to the functioning of that airport.

Our strong corporate governance framework has enabled us to adopt an agile approach to the challenges of the past three periods and to adapt as necessary to meet those challenges. This framework provides role clarity and delineation and clearly defines areas of accountability.

It enabled us to implement a rapid and well-coordinated response to the COVID-19 pandemic and to put new strategies and plans into place to deal with the entirely new business and social landscape it has left in its wake.

The Board is responsible for the strategic direction, control, and sustainability of the Group. The Directors provide independent, informed, and effective judgement, which facilitates transparency and enables appropriate and relevant decisionmaking. The Board works closely with the Minister of Transport, the Auditor-General of South Africa and other relevant state institutions to ensure that ACSA is an efficient and wellgoverned entity that fully adheres to principles of good governance. We focus keenly on scrutinising high-risk areas of the business, ensuring that robust risk-mitigation measures are put in place and monitoring activities such as irregular, wasteful, and fruitless expenditure.

It is the Board’s responsibility to uphold good corporate governance and it remains committed to the highest standards of governance, ethics, and integrity. The Board sets an ethical tone for the Company by clearly defining strategy, structures, roles, policies, procedures, and key performance measures, as well as by creating and sustaining an enabling and transparent culture. The Board members have signed an ethics pledge to demonstrate their commitment to ethical leadership.

In all our activities, we adhere to the principles of good governance as set out in the King Report on Corporate Governance for South Africa™ (2016) (King IV™). A full analysis of how we adhere to these principles is given in our Governance and Remuneration Report, which complements the Integrated Annual Report and forms part of our annual reporting suite. Full details of the mandates, activities and performance of the Committees of the Board are also provided in that report as are full details of our remuneration policies and practices.