Responsibilities
SAPREF recognizes five areas of responsibility:
employees, customers, shareholders, society and those with
whom we do business. These five areas of responsibility
are inseparable, therefore it is the duty of management
to continuously assess the priorities and discharge its
responsibilities as best it can on the basis of that assessment.
Economic Principles
Profitability is essential to discharging
these responsibilities and staying in business. Without
profits and a strong financial foundation it would not be
possible to fulfill the responsibilities outlined above.
Criteria for investment decisions are not exclusively economic
in nature but also take into account social and environmental
considerations and an appraisal of the security of the investment.
Business Integrity
SAPREF insists on honesty, integrity and
fairness in all aspects of our business and expects the
same in our relationships with all those with whom we do
business. The direct or indirect offer, payment, soliciting
and acceptance of bribes in any form are unacceptable practices.
Employees must avoid conflicts of interest between their
private financial activities and their part in the conduct
of company business. All business transactions on behalf
of SAPREF must be reflected accurately and fairly in the
accounts of the company in accordance with established procedures
and be subject to audit.
Political Activities
SAPREF acts in a socially responsible manner
within the laws of the country in pursuit of our legitimate
commercial objectives. SAPREF does not make payments to
political parties, organisations or their representatives
or take any part in party politics. However, when dealing
with government SAPREF has the right and the responsibility
to make our position known on any matter which affects ourselves,
our people, our customers or our shareholders. We also have
the right to make our position known on matters affecting
the community, where we have a contribution to make. Where
individuals wish to engage in activities in the community,
including standing for election to public office, they will
be given the opportunity to do so where this is appropriate
in the light of local circumstances.
Health, Safety and the Environment
Consistent with our commitment to contribute
to sustainable development, SAPREF has a systematic approach
to health, safety and environmental management in order
to achieve continuous performance improvement. To this end
SAPREF manages these matters as any other critical business
activity, sets targets for improvement and measures, appraises
and reports performance.
Competition
SAPREF supports free enterprise. We seek
to compete fairly and ethically and within the framework
of applicable competition laws; we will not prevent others
from competing freely with us.
Communication
SAPREF recognizes that in view of the importance
of our activities and their impact on the national economy
and individuals, open communication is essential. To this
end, SAPREF has comprehensive corporate information programmes
and provides full relevant information about our activities
to legitimately interested parties, subject to any overriding
considerations of business confidentiality and cost.
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