The principles of responsibility, accountability, fairness, and transparency are the cornerstones of our business.
By following a standard of excellent corporate governance, we commit ourselves to an Ethical Code of Conduct that leaves no room for tolerance with regards to theft, dishonesty, and corruption. This upholds the value of our purpose that all stakeholders should be better off because of our existence and supports the overarching sustainability of the KAL group.
The Executive Board relies on systems of internal control to provide assurance that company assets are safeguarded and that the risk of errors, frauds, or losses are kept to a minimum. These systems also ensure that our financial reports are relevant, up to date, and correct.
KAL Group is involved in the trading of grain products, which entails various risks such as delivery risk, storage risk, and price risk. We thereby safeguard the security of the company by way of risk management policies such as legal contracts, meticulous administration, insurance, and price hedging. In addition, debtors also entail certain risks. Our Finance Committee subsequently ensures that these risks are managed through the application of structured credit policies and the acquisition of securities where it is deemed appropriate. Relevant personnel are continuously trained to identify and comply with the relevant legislation concerning our risk management practices.
A number of KAL Group’s non-executive directors are indirect or direct customers of the company, or conduct business with the company on ongoing terms. This takes place on an arm’s length basis through normal operating points. No director’s business with KAL Group exceeds 1% of the total business. Certain directors, whether directly or indirectly, also hold shares in the company. These directors’ conduct in relation to any dealings with KAL Group is prescribed by an agreed written charter.
KAL Group is listed on the JSE. Computershare fulfills the role of Transfer Secretary for the company and is responsible for the administration of the share register. Trading by directors and identified employees is subject to a written policy that prescribes certain closed periods, as well as specific approval requirements for every transaction. In addition to the written policy, the Board also regularly considers whether there are any circumstances or newfound information that may impact share prices and prohibit trading.
The safety, welfare, and health of our employees and stakeholders are non-negotiable. The management of health and safety is done in accordance with the Occupational Health and Safety Act at all our operational points as part of the risk management programme. Compliance with the requirements of the legislation therein is strictly monitored to ensure that a safe working environment is created and maintained.
KAL Group maintains a whistleblowing policy that provides our employees with an independent means of making protective disclosures of improper conduct in the workplace. This guarantees our employees protection against victimisation, disciplinary action, or any other professional disadvantage, subject to the correct following of the regulations and conditions of the policy.