Corporate Governance Aligned to King IV Principles
Principle 16: Stakeholder Relationships
STAKEHOLDER RELATIONSHIPS
STAKEHOLDER RELATIONSHIPS
Principle 16 – In the execution of its governance role and responsibilities, the governing body should adopt a stakeholder-inclusive approach that balances the needs, interests, and expectations of material stakeholders in the best interests of the organisation over time
We continually engage with all our stakeholders to understand and respond to their needs, interests, and expectations
These include government, the public, members, and suppliers, such as bankers, custodians, administrators, and Fund Managers
We seek to continually build strategic partnerships and maintain relationships with our stakeholders
This helps us to manage the expectations of society, minimise reputational risk and form strong partnerships, which all underpin business sustainability
Ongoing engagement and evaluation of the quality and value we deliver to our stakeholders is vital to address sustainability concerns and interests and inform our strategic priorities
Outcomes
DESIRED OUTCOME
A stakeholder-inclusive approach that balances the needs, interests, and expectations of material stakeholders in the best interests of the organisation over time
Open communication with our stakeholders, based on openness, transparency, trust, and good understanding of expectations
Sound relationships with our stakeholders to underpin business sustainability, ethics, and organisational integrity within the social, legal, and economic context of the country
Summary of the arrangements for governing and managing stakeholders
The Staff Administration and Corporate Affairs Committee (SACA) oversees the Fund’s approach to stakeholder engagement
Principle 17 – The governing body of an institutional investor organisation should ensure that responsible investment is practiced by the organisation to promote good governance and the creation of value by the companies in which it invests
Approval of investment of member funds is reserved for the Board in consultation with the Minister of Finance, Planning and Economic Development and this is in line with Section 30 of the NSSF Act 2022
The Fund invests prudently, in mature markets, whose returns are predictable
The aggressiveness for growth is in the Allocation of Assets, governed by an investment policy
Ensure that responsible investment is practiced by the organisation to promote the good governance and creation of value by the companies in which it invests
