Corporate Governance
Framework

Sound corporate governance values will guide the Board in directing, governing and controlling the group, whilst subscribing to the principles of ethical leadership, business, social and environmental sustainability and stakeholder engagement.

Moreover, the Board recognises that, through good governance, the group will have an ethical culture, good performance, effective control and legitimacy. The Board particularly recognises the need to manage the group with integrity and provide effective leadership based on an ethical foundation. This includes timely, relevant and meaningful reporting to stakeholders, that provide a proper and objective overview on the group and its activities, directing the strategy and operations of the company on a sustainable basis, considering the short- and long-term impact of its actions on the economy, society and environment.

To serve the interests of shareholders and other stakeholders, the group’s corporate governance system is subject to ongoing review, assessment and improvement. The Board proactively adopts governance policies and practices designed to align the interests of the Board and management with those of shareholders and other stakeholders and promote the highest standards of ethical behaviour and risk management at every level of the organization.

Corporate governance refers to the allocation of authority and responsibilities by which the business and affairs of the group are carried out by its Board and management, including how they:

  • set the group’s strategy and objectives.
  • ensure adequate resources and oversee personnel.
  • operate the business on a day-to-day basis.
  • align corporate culture, corporate activities and behaviour with the expectation that the group will operate in a safe and sound manner, with integrity and in compliance with applicable laws and regulations and as a good corporate citizen.
  • establish control and assurance functions.

The Board of Directors steers and sets the direction of the group for the realisation of its core purpose and values through its strategy. The Board considers and approves key matters, including acquisitions, disposals and reporting. The Board is responsible for monitoring NEPI Rockcastle’s operational performance and overseeing the effectiveness of the internal controls systems, to ensure assets are safeguarded, proper accounting records are maintained and that the financial information, on which business decisions are based and which is published, is reliable. 

With the endorsement of the Board, the Group formalized its Corporate Governance Framework. defining its core driving principles, its Board Charter, the governance of its subsidiaries, the approach to internal controls and lines of defense embedded in its processes.

Our approach to governance

Corporate Governance is key to the Group’s strategy and continues to be a priority in the short-, medium- and long- term. NEPI Rockcastle is actively monitoring its compliance with King IV Report on Corporate Governance in South Africa and voluntarily implements selected principles recommended in the UK and Dutch codes. The register with the applicable King IV principles, filled in based on the ‘apply and explain’ approach is updated annually.