The Massmart Social and Ethics Committee was constituted in June 2011 and comprises two non-executive Directors and the Massmart CEO. An independent external advisor, the Group Chief Compliance Offi cer, the Group’s Corporate Affairs Executive, the Group General Counsel and the Group’s Human Resources Executive attend meetings by invitation.

The Committee is governed by a charter and monitors Group performance in terms of defi ned social and ethics performance indicators that have been formulated with reference to Regulation 43(5) of the Companies Act.

These indicators, which include but are not limited to, OECD anti-corruption guidelines, United Nations Global Compact principles, the Employment Equity Act, Johannesburg Stock Exchange Socially Responsible Index criteria and Broad-based Black Economic Empowerment elements, are reviewed by the Committee, on a rotational or core agenda basis.

The Committee met twice during the 53 weeks ended December 2013, at which meetings performance in the following areas were reviewed, in response to the requirements of the Companies Act:

  • JSE Socially Responsible Investment Index;
  • Anti-corruption Compliance;
  • Consumer and Product Safety;
  • Human capital management;
  • Regulatory and compliance matters;
  • Stakeholder Relations;
  • Socio-Economic Development; and
  • Environmental Impact.

The Committee confirms that no material issues were identified during this review.

_0008_Phumzile Langeni's Signature.tif
Phumzile Langeni
Chairperson of the Social and Ethics Committee

10 April 2014