Corporate governance report - Ethics

Netcare is committed to achieving the highest standards of ethical behaviour. The Group’s values are core to its business philosophy and guide the way the Group conducts business and interacts with all stakeholders. A formalised policy details the Group’s code of ethical and acceptable conduct and articulates the Group’s policy with regard to conflicts of interest, gifts, confidentiality, fair dealing and protection and proper use of Group assets.

The Board of directors is committed to ensuring the consistent application of the Code of Ethics.

The Group is aware of the importance of Competition Law and the need to ensure that no collusive behaviour is tolerated. To this extent, the Group provided a seminar to senior management to enhance their understanding of the terms of the Competition Law and the Group policy in this regard. Senior management also acknowledged and agreed to comply in every manner with the rules governing Competition Law.

The Group is mindful of the professional codes which govern the conduct and ethics of health professionals in South Africa. The Group supports the Health Professional Council of South Africa in all its endeavours to enforce any breaches of its code, its principles and its values.

The Fraud and Ethics Hotline is a whistle blower mechanism made available to all Netcare employees to report fraudulent and unethical behaviour of any nature (including any unethical medical behaviour). The Hotline ensures the anonymity of all information received, and the protection of the employees reporting these incidents. The Fraud and Ethics Hotline can also be used by the public, including suppliers and patients, and posters are positioned at all Netcare’s business units.

The Netcare Group has a “zero tolerance” approach towards fraud and corruption. Accordingly, all identified cases are reported to the South African Police Services and any other appropriate bodies.

The Fraud and Ethics Hotline is only one of a number of mechanisms that employees, management and external parties utilise to report irregularities. All internal and external parties can contact the Forensics Department by telephone, email or meeting request. The Forensics Department resides within Group Audit Services and reports directly into the Head of Group Audit Services and Forensics.

All incidents reported on the Fraud and Ethics Hotline or from any other source are logged onto the defalcation register, and are investigated and a monthly report is provided to the Chief Executive Officer and Chief Financial Officer. The register is also included in every Audit Committee pack.

Fraud and Ethics Hotline: 0860FRAUD1 (0860372831). If anonymity is not a concern, then the e-mail address fraud@netcare.co.za can be utilised.

Fraud and Ethics Hotline – statistics