In pursuance of the principles as per the King Code, the Board oversees and exercises responsibility over information technology governance and ensures the implementation of the IT governance framework under the auspices of the IT Steering Committee headed by the Group Chief Information Officer.
IT forms an integral component in the risk management process of the Group.
The IT steering committee (ITSC) oversees the IT investment priorities for the group and the purpose is to:
- provide strategic leadership to IT through the alignment of IT’s strategic objectives and activities with the group’s strategic objectives and processes;
- prioritise IT investment initiatives and deliver final approvals and recommendations on proceeding with proposed IT projects;
- ensure open communication between the IT department, segments and the other functional divisions of the group so as to promote integration and collaborative planning;
- offer acceptance and guidance of the regional IT budgets to ensure strategic direction; and
- acceptance on the allocations and usage thereof.