Corporate governance - Absa Group | Welcome to Absa Group Limited

Overview

At Absa Group, corporate governance plays a vital role in maintaining shareholder value and ensuring ethical behavior. Our Board Charter and various policies guide the corporate governance principles across our operations.

Our Memorandum of Incorporation and Board Charter

The Absa Group Memorandum of Incorporation regulates rights and responsibilities within the Group, ensuring compliance with the Companies Act 2008 and other regulations.

Key Highlights

• Outlines Board and committees' mandates
• Defines roles for Group Chairman and Chief Executive
• Sets criteria for director independence
• Provides oversight and ensures accountability
• Acknowledges regulations in presence countries outside South Africa

Board Responsibilities

• Sets and steers strategic direction: Challenges Group strategy and sets value-creating goals.
• Approves policy and planning: Approves major policies and financial decisions.
• Provides oversight and monitoring: Oversees strategy execution and compliance with best practice.
• Ensures accountability: Reports and presentations support the accountability of management.

Board Committees

• Directors' Affairs Committee: Focuses on governance structure and director effectiveness.
• Group Audit and Compliance Committee: Oversees financial statements and compliance.
• Group Risk and Capital Management Committee: Monitors risk, capital, funding, and liquidity management.