Our Governance
Governance as the strong foundation of SANBS’ business
Our Governance
Reporting frameworks, process and combined assurance
Board responsibilities
The Board of Directors Charter describes the roles, responsibilities, and procedures for the Board. This Charter is reviewed every year or whenever needed. The Board takes the lead by:
Setting strategic direction
Deciding on the overall goals and direction of the company
Approving policies
Agreeing on policies and planning that support the strategic direction, including managing risks and promoting an ethical culture
Overseeing management
Monitoring how effectively the management team is implementing plans and strategies
Ensuring accountability
Making sure that the company meets its performance goals through regular reporting and transparency
Onboarding new Board members
When new Board members are appointed, they participate in an induction programme designed to familiarise them with SANBS, their roles, and their responsibilities.
Board focus areas during FY25
Artificial intelligence: The use, governance, risks and opportunities
SANBS is conducting extensive research to ensure thoughtful integration of Artificial Intelligence (AI) as part of its digital transformation journey. The Board appreciates that AI holds transformative potential for SANBS. With appropriate governance, it can enhance efficiency, decision-making, and service delivery. However, there is a strong appreciation that it is essential to carefully manage risks related to data privacy, bias, and overreliance on AI systems.
The ICT team has provided the RTIG Committee with a comprehensive outline, which includes AI concepts, strategic opportunities, relevant real-world use cases tailored to SANBS, and a phased approach for governance-led adoption. This structured approach aims to ensure that AI is implemented responsibly and effectively within the company.
King V guidelines
SANBS commented extensively on the draft King V guidelines to understand the proposed changes and prepare for their implementation. The Board has requested regular feedback on this process to remain informed about forthcoming adjustments.
Board training and development
Enhancing Board training, particularly in light of governance improvements and upcoming regulations such as King V, as well as the importance of AI. Focus on remuneration governance, risk governance, and AI with three sessions scheduled for FY26.
Committee focus
Discussions surrounding the functions and outputs of various committees within the Board, outlining roles and responsibilities in relation to governance.
Review of governance policies
Review of governance policies to maintain alignment with best practice and regulations.
Nurturing organisational culture
Monitoring the company's culture, values, and ethical practices, ensuring they align with strategic objectives and stakeholder expectations.
Performance monitoring
Continuous evaluation of organisational performance relative to strategic goals, supported by regular updates and data from different divisions. FY25 marks the final year of implementing the iHEALTh strategy. From FY25 onwards, the new strategy to 2030 will be monitored.