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Corporate Governance and Risk Management

risk

 

Management of Makakwute Innovative Limited and it subsidiaries, is committed to ensuring its business operates in an ethical and responsible manner. Corporate governance structures/practices are managed and monitored to ensure that day-to-day operations remains in cognizance with regulatory requirements and maintains the highest ethical standards.

Management Responsibility

Management team is responsible for operational and strategic implementation of the company’s ethical code of conducts.

Our Core Ethics

Ethical principles are based on our core values of Honesty, Integrity, Human dignity, Respect and competence. These principles set forth ideals to which all employees should aspire.

 

Equal Opportunity

The Company is built upon teamwork, equal opportunity and is committed to developing and implementing a program of non-discrimination. As legal employer of labor we subscribes to the principles of an equal opportunity and should recruit, interview, hire, classify, train, promote, demote, discipline, transfer, terminate, and set rates of pay or other compensation on the basis of merit and qualification without regard to race, religion, creed, color, ethnic origin, physical disability, sex, age and family relations.

Risk Management

Management considers risk management as the process of planning, organizing, leading, and controlling the activities of the company in order to minimize the effects of risk on an organization's capital and earnings. They expand risk management to the process that includes not just risks associated with accidental losses, but also financial and operational accountability. Management has designed a key business discipline designed to balance risk and to protect the company against uncertainties that could threaten the achievement of organisation’s business objectives.

Code of Conduct

Ethical Code of Conduct

 

  1. It is the policy of the company that each employee conducts his/her business affairs with high standards of integrity that no conflict of interest exists or can be reasonably implied or construed. The following are set forth as legal and moral restrictions with respect to legal and business ethical conduct, if a situation feels awkward, then the employees should ask themselves:  
    • Is my action legal and ethical?
    • Does my action comply with corporate policy?
    • Is my action appropriate in the situation?
    • Would my action be an embarrassment to the company, if known?
    • Does my action agree with my personal ethics or behavior?
  2. An employee should be able to answer “yes” to all of these questions before taking action or compromising themselves in the situation.
  3. Unethical business conduct, actions or even the appearance of unethical behavior is unacceptable under any conditions. The reputation of the company depends on each employee applying common sense in situations where specific rules of conduct are insufficient to provide clear direction. A strong sense of personal ethics, which should extend beyond compliance with applicable laws, is necessary to guide the behavior of all employees.

 

Ethical Commitment

 

  1. Ethics involves applying moral standards of good, right and fair conduct, which are supported by values, to shape the decisions and actions of individuals within the organization in the pursuit of our business objectives. In simple terms it is about “doing the right thing”
  2. The company has adopted and implemented the high values of Integrity, Respect, and Accountability. Creating New Frontier, Proven Diversity which means “Pushing Beyond Boundaries” in all our business operations.
  3. These values, together with the behaviors identified with them, provide general guidelines as to how we interact with each other, our stakeholders, and reflect what is important to us and how we conduct ourselves. Recognizing that our public reputation is one of our most important assets, we are committed to achieving the highest ethical standards in all our business operations.
  4. We recognize our obligations to all our stakeholders – particularly shareholders, clients, employees, business partners, competitors, the authorities and the wider community. Maintaining the trust and confidence of all our stakeholders is the responsibility of every employee. In all of our actions, the values and associated behaviors must be used to guide and direct the way we conduct ourselves.
  5. This Code of Ethics is supported by company policies and procedures relating to specific issues, processes and situations. We will monitor ethical performance regularly in order to ensure that irregular or unethical business practices are eliminated.

Core Values and Behaviors:

 

  • Living the company’s values means that we must ensure that the behaviors listed in this code are practiced at all times throughout company.

Integrity means that we must:

  • Be honest, trustworthy, consistent, and open, and always act in accordance with the highest ethical standards.

Respect means that we must:

  • Actively listen to others, respond appropriately to what they have to say, work effectively with diverse people, and be willing to learn from others.

Accountability means that we must:

  • Be prepared to take responsibility for our work, make commitments, find solutions and be held accountable for delivery and results.

Creating New Frontier Proven Diversity (Pushing Beyond Boundaries) means that we must:

  • Be passionate about our work and committed to achieving our goals, always looking for innovative and creative ways to improve, whilst constantly striving to break new ground.

 

 

For our Shareholders we will

  1. Strive to expand and maintain the business and profitability of the company
  2. Maintain executive accountability for decision making on material matters
  3. Generate an attractive and sustainable return
  4. Take reasonable steps to protect and enhance the company’s assets
  5. Comply with legislation, industry regulations and prescribed practices
  6. Produce accurate and timely accounting statements and shareholder information
  7. Report developments that may have a material impact on the value of the shareholders assets
  8. Conduct business honestly, fairly and responsibly
  9. Not engage in restrictive trade practices and comply with competition laws
  10. Ensure that no contributions will be made to political parties

For our Clients we will

  1. Act justly, fairly and in the best interests of each individual
  2. Render a responsible and effective service
  3. Constantly strive to improve our products and services
  4. Deal with complaints and enquiries in a prompt and efficient manner
  5. Report accurately on our performance and prospects
  6. Uphold the letter and spirit of agreements we are party to
  7. Protect the confidentiality of information in accordance with the law and prescribed practices.
  8. Communicate in an open, timely, honest and transparent manner.

As Employers we will

  1. Respect the dignity of the individual
  2. Act justly, fairly and impartially
  3. Respect the right to freedom of association and expression
  4. Keep our employees personal details confidential
  5. Respect the tradition and culture of all our employees
  6. Recruit and promote in accordance with established labor law and practice
  7. Develop skills and competencies of employees in line with the needs of the organization.
  8. Create an environment of continuous learning as a way of training and developing employees
  9. Create new challenges and career opportunities for employees by developing the Makakwute Innovative business
  10. Communicate in an open, transparent, honest and timely fashion
  11. Not overstate or exaggerate in any communication to employees
  12. Not allow any unlawful discrimination, intimidation, victimization or harassment of employees
  13. Create the climate and opportunity to report concerns and irregularities safely and without fear of retribution or victimization
  14. Deal with employee complaints and enquiries promptly and efficiently
  15. Maintain sound and fair labor practices and apply codes of good practice
  16. Promote the principle of internal equity and take account of market trends when entering the pay levels of employees
  17. Provide a healthy and safe working environment