GOVERNANCE
The Board of Directors of Zambia Sugar PLC holds ultimate responsibility for the governance of the Company, including oversight of Environmental, Social, and Governance (ESG) matters.
In alignment with Group-wide priorities, Zambia Sugar has embedded ESG and strategic Key Performance Indicators (KPIs) into performance agreements of its leadership team. This initiative is designed to enhance accountability and drive performance in areas critical to long-term sustainability.
To support effective implementation, the business benefits from the expertise of various Group technical teams, ensuring that governance and ESG objectives are consistently advanced across operations.
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Strong oversight. Transparent leadership. Sustainable Value creation.
COMMITMENT TO COMPLIANCE
Compliance remains a top priority for Zambia Sugar. The business is firmly committed to strengthening corporate governance as a cornerstone of sustainable growth and responsible corporate citizenship.
This commitment is reflected in adherence to key governance principles, including fairness, accountability, transparency, responsibility, and integrity.
The business maintains a robust compliance culture, ensuring alignment with all applicable laws, regulations, and internal policies. These include, but are not limited to, the Companies Act, Employment Code Act, and Factories Act. The business is also guided by the Lusaka Securities Exchange (LuSE) Governance Code, which informs its governance practices and regulatory obligations.
In support of its zero-tolerance stance on bribery and corruption, the business continues to enforce its Gifts and Hospitality and Anti-Bribery and Corruption policies, reinforcing ethical conduct across all levels of the organization.
The Chairperson is responsible for the operation and leadership of the Board, ensuring its effectiveness and setting its agenda. The Country Managing Director is responsible for day to day leading and managing of the Company’s business within a set of authorities delegated by the Board and for the implementation of Board strategy and policy.
CORPORATE GOVERNANCE FRAMEWORK
The business governance framework is designed to promote prudent management, effective oversight, and the protection of stakeholder interests. It provides a structured approach to decision-making, risk management, and performance monitoring, ensuring that governance standards are upheld throughout the business.
This report provides a high-level overview of Zambia Sugar’s governance practices. Additional details are available in the accompanying reports and financial statements forming part of the Annual Report.
BOARD COMPOSITION
The Board of Directors currently comprises TEN members, including FOUR Independent Non-Executive Directors. The Board operates under a formal Charter that ensures a balanced distribution of power and authority, fostering objective decision-making and strategic oversight. Appointments to the Board are conducted transparently, based on recommendations from the Remuneration and Nominations Committee. Following Board approval, appointments are subject to shareholder ratification at the next Annual General Meeting.
The roles of Chairperson and Managing Director are clearly separated in accordance with the LuSE Governance Code and best practices for corporate governance. The Chairperson is an Independent Non-Executive Director, ensuring impartial leadership and effective Board governance.
2020 SLAVERY STATEMENT
This statement is made on behalf of Associated British Foods plc and all relevant entities within the Group, pursuant to section 54 (1) of the UK Modern Slavery Act 2015 and sets out the steps taken to mitigate the risk of modern slavery occurring within its operations and its supply chains which includes Zambia Sugar.
