Downloads

Risk Management and Compliance Committee Chair's review

"Reflecting on the year, MTN's integrated risk management approach has proven indispensable in addressing emerging global risks, from cybersecurity threats to supply chain disruptions. Our proactive stance on risk preparedness has been key to sustaining our market leadership and delivering on our strategic priorities."

Key features of 2023

Made extensive progress in fintech resourcing.
KRIs across Opcos, informing tolerance levels and resource allocation.
Modified the ERM maturity model to ensure suitability and effectiveness.
Rigorously confirmed Opco maturity levels through evidence-based assessments, ensuring an enhanced and fit-for-purpose risk management landscape.
Achieved a favourable Group insurance programme renewal outcome, with a modest premium increase of 4.5%.
Improved overall Group business resilience index.
Enhanced compliance maturity across the Group with the majority of our markets have progressed significantly over the past year and are now functioning at leading levels of maturity. This marks a substantial step towards strengthening our compliance posture. Opcos on track to achieve a leading maturity state: a significant step towards strengthening our compliance posture.
Conduct executive crisis simulation exercises, improving crisis response capabilities and resilience indices across multiple Opcos.
Reviewed and updated Group crisis management and distributed denial-of-service (DDoS) crisis contingency plans, alongside Opco-specific security and medical emergency evacuation plans.
Established in-house competence and resources, as well as a panel of external providers, for desktop due diligences, and know your customer (KYC) and business partner information.

Key focus areas for 2024

Implement a control self-assessment methodology to empower the first line with enhanced control capabilities.

Familiarise teams with risk and control taxonomy to integrate line testing results more effectively into the combined assurance framework.

Update the risk appetite and preference framework, including a review of risk categories and tolerance levels.

Revise Group ERM policy and methodology to reflect best practice and operational needs.

Refine compliance methodologies and align metrics to set a new direction for compliance excellence.

Redesign MTN Group insurance approach to meet evolving business requirements.

Optimise cell captive and consider additional funding options, alongside exploring dividends and shareholding for Opcos.

Conduct business resilience benchmark assessments for continuous improvement.

Explore AI-powered tools for external horizon scanning and reporting to anticipate and react to global risk trends more effectively.

Continue to embed data privacy and protection controls as a key business imperative for a competitive advantage.

Chair
Shaygan Kheradpir

	Meetings
Members	Meetings

	Scheduled	Special
Shaygan Kheradpir	4/4	1/1
Noluthando Gosa	4/4	1/1
Nosipho Molope	3/4	1/1
Stan Miller	4/4	1/1
Nicky Newton-King	4/4	0/1
Tim Pennington	4/4	1/1
Lamido Sanusi	4/4	0/1

All members are independent non-executive directors.

Special meetings are scheduled on an ad hoc basis and at short notice to address urgent matters. Due to the nature of these meetings, it is not always possible for all directors to attend.

By invitation: Chair of the Audit Committee, Group President and CEO, Group Chief Financial Officer, Group Chief Risk Officer, Group Chief Operating Officer and the external auditor.