Presentation of Strategic Plan and APP to the Portfolio Committee on Trade and Industry

Benjamin van der Merwe (acting CEO)

17 April 2013

Outline Legislative Mandate, Mission and Values

Organisational Strategic Goals and Objectives

Products and Services

Performance and Organisational Environment

Alignment to Government key priorities (the 12 national outcomes and the dti IPAP)

Strategic Outcome Orientated Goals (Balanced Scorecard)

Divisional strategic outcome-orientated goals

Legislative Mandate NMISA was established under the

Measurement Units and Measurement Standards Act, No

18 of 2006 (The Measurement Act)

To provide for the use of measurement units of the International System of Units (SI) and certain other

measurement units

To provide for the designation of the national measurement units and standards; to provide for

the keeping and maintenance of the national measurement standards and units and to provide

for the establishment and functions of the National Metrology Institute of South Africa (NMISA)

Mission and Values

To provide South African industry, environmental, health and safety sectors with fit-for-purpose measurement standards and measurements. This is achieved by keeping and maintaining the national measurement standards and units to an acceptable international standard and by disseminating traceability to the South African industry

Mission

Measurement excellence

Social responsibility

Economic prosperity

Good Governance

Values

Organisational Goals

Goal 1 •Ensure that South Africa maintains national measurement standards; and demonstrates their

comparability to other national and international standards and measurements

Goal 2 •Build and maintain an internationally recognised national metrology system as the

foundation for the South African measurement system

Goal 3 •Strengthen the metrology system as a key component of the Technical Infrastructure that is

aligned with international best practice.

Goal 4 •Provide essential support to South African enterprises competing in a fast-paced global

economy.

Goal 5 •Provide essential support for public policy objectives with regard to measurement

compliance issues in terms of health, safety and the environment.

Strategic Objectives Keep and maintain the equipment necessary for bringing national measurement standards and certify reference materials into being

Strategic

Objective 1

Upgrade the existing measurement standards, develop new measurement standards and reference materials in line with the requirements of commerce and industry

Strategic

Objective 2

Establish confidence in the accuracy of the national measurement standards by suitable and documented verification processes

Strategic

Objective 3

Disseminate traceability, measurement expertise and services to South African commerce and industry by means of calibration, measurement or analysis, certified reference materials, appropriate technology and skills transfer.

Strategic

Objective 4

Establish and maintain the necessary expertise and competence according to internationally acceptable standards

Strategic

Objective 5

Recapitalise and modernise the NMISA to ensure the NMS supports international trade, health, environmental and safety requirements

Strategic

Objective 6

Participate and represent South Africa regionally and internationally with reference to traceability and measurement issues and maintain close links with the CIPM and associated activities of the Metre Convention

Strategic

Objective 7

Products National Measurement

Standards (NMS)

• NMISA maintains 42 gazetted national measurement standards (NMS)

• These NMS underpin the South African measurement system and facilitate national traceability of measurements to the International System of Units (SI), or to other international agreed references

• During the next 3 years, the number of gazetted NMS is anticipated to increase to 50

Reference Measurements

• NMISA maintains a number of reference measurements in a number of parameters through which the NMS is disseminated

• These methods are verified and validated, and most are underpinned by internationally published Calibration and Measurement Capabilities (CMCs)

• Method development is on-going for expansion of existing scope

Certified Reference Materials (CRMs)

• CRMs are ‘controls’ or standards used during the analysis and/or quality assurance process (mostly calibration of analytical equipment)

• Accredited laboratories performing analysis are required to use CRMs to ensure traceability of their results

• New reference measurements , CRMs will increase by 10 to 15

Services C

alib

rati

on

• Disseminate traceability from NMS to accredited calibration laboratories (highest accuracy, smallest uncertainty)

• NMISA holds accreditation to ISO/IEC 17025 for most of the parameters

• Envisaged growth in parameters (366 to 386)

Cer

tifi

ed

Ref

ere

nce

Mat

eria

ls

• NMISA has built capability to characterise and value assign selected chemical materials and gas mixtures, including purity analysis

• Envisaged growth in CRMs sold (86 to 200)

Ref

ere

nce

mea

sure

me

nts

, te

stin

g an

d a

nal

ysis

• NMISA offers advanced measurement services to industry.

• This includes method development for customers, assistance with problem solving and analysis in support of research projects

Skill

s En

han

cem

en

t

• The expertise residing in the staff of NMISA is an important contribution to the development of a skilled and capable workforce through training in measurement science

• Refer to the Strategic outcome-oriented goals for Human Resources

• Peer-reviewed papers and presentations

Trai

nin

g • Where and when required, NMISA assists especially SANAS and the NLA, with training courses

• Special development projects aim to assist SMMEs have been created and are being rolled out

• NMISA staff is also involved as invited lecturers in graduate and post-graduate academic courses

International and Regional Environment

NMISA plays a key role in the establishment of measurement traceability and the international

equivalence there-of, sitting at the interface between the national and international systems.

The expanding global trade and pressure to eliminate technical barriers to trade (TBTs) creates a constant demand for greater accountability and

demonstrated competence in NMIs

NMISA plays a leading role in the development of metrology infrastructure in Africa, especially

in support of South Africa’s immediate neighbours in SADC. A sound measurement

structure is critical to the successful implementation of regional free trade agreements and elimination of TBTs

National Environment

NMISA Management Structure

Alignment to the 12 national outcomes

•Improve the accuracy and reliability of chemical, physical and bio-measurements

Quality of Life

•IPAP contribution and assistance to SMEs

Manufacturing and Industrial Development

•Trade regulations rely on accurate measurements. Removal of technical barriers to trade (TBTs)

Trade and Commerce

•Ensure safety regulations are met through accurate measurement; traceability to the regulatory domain (law enforcement), speed measurement, breath alcohol calibrations

Safety and Security

•Lighting sources consume about 20% of all electricity generated; Replacement of conventional lamps with LEDs will reduce the consumption to 16%

Energy Saving and Green Industries

•Recent alerts in the EU regulations, stricter minimum residue levels (MRLs), has once again highlighted the vulnerability of African economies incurred due to inadequate analytical testing facilities. South Africa is a signatory to the POPs convention and is thus committed to establishing at least one centralised toxic substances analytical laboratory for higher order measurements

Environmental protection

•Toxic elements and contaminants in food and food packaging to meet EU regulations, establishing capability for measuring nutritional elements and amino acids in infant formula and wheat based products is essential

Food Safety

Contributions to the dti IPAP • Traceability for nano-material

measurements

• Traceability for stress and strain (tribology)

• Traceability for large dimensional measurements, locomotives and coaches

Metal Fabrication & Transport Equipment

• 2nd phase upgrade of electrical power and energy measurements standards

• New NMS for LED lighting

• New NMS for building efficiency (energy saving)

• New PRGMs for Green House Gases

Green and Energy Saving industries

• Commission Coordinate Measuring Machine (CMM) for Automotive Component Manufacturing

• Commission new Acoustics NMS

• Upgrade Force and Torque NMS

Automotives and Components

• Reference measurements for pesticides in rooibos tea, beverages and water

• Traceability for nutritious and toxic elements in grain and wheat

• Traceability for dioxins and related toxicants in fish and feed

Agro- Processing

• Upgrade the NMS required to perform diagnostic network tests on fibre optics and wireless telecommunication systems

• Upgrade optical frequency NMS for SKA

Business Process Services & Cutting edge:

• Nano-metrology facility to address traceable measurements in nano manufacturing (catalysts for petro-chemical, nano-particles for aerosols, semiconductor technology)

• Roadmap for analytical facility with required for hazardous substances in plastics and packaging materials

Plastics, Pharmaceuticals and Chemicals

NMISA 2013

Key strategic focus

Strengthening of Corporate Governance

• Supply Chain Management (tenders and sole suppliers)

• Asset Management

• PPP Project (Appointment of the Project Officer and Transaction Officer

• Risk Management

• Internal Audit

• External Auditor (Quarterly and Annually

• Financial controls and reporting

• Challenges experienced (resignation of CEO, CFO, account and Company Secretary in 2012/13)

Enhancement of Human Capital Development

• Competent and sustainable workforce

• Development of employees

• Pool of talent to address future skills needs

• Enhancement of qualification of current staff

• Recruitment of black professionals

• Undergraduate bursaries, post-graduate studentships and internships

• Pipeline of young black researchers

• Transformation of the organisation

Enhancement of Services

(National Measurement Standards)

• Improvement and/or establishment of comprehensive capabilities to provide support and measurement traceability for: chemical analyses, manufacturing, automotive, food safety, environmental monitoring, health care, the mining industry, regulatory domain and agriculture

• Dissemination through calibration measurement standards, certified reference materials, proficiency testing schemes and higher-order reference measurements

• A special programme to assist SMMEs

NMISA 2013

Strategic Outcome-Orientated Goals

The NMISA has adopted the balanced scorecard approach to set and measure performance targets. The NMISA Scorecard is composed of four key components, namely stakeholder/customer, learning and growth (organisational development), innovation and business process, and financial perspective

• Improve staff qualification profile • Transformation (establish pipeline

of future skills) • Create management systems

(career ladders, performance management etc.)

• Communication (staff meetings, section head forum, staff communique etc.)

• Establish long term multi-divisional anchor research programs

• Implement systems to manage & protect NMISA IP

• Align and integrate systems and processes

• Trusted business partner & service excellence

• Improved turnaround time and response time

• Increase customer satisfaction thereby increasing referrals

• Financial growth & stability (broaden revenue mix)

• Effective financial controls • Decrease costs of delivered

products & services Financial Perspective

Stakeholder& Customer Perspective

Learning & Growth

Perspective

Business Perspective

Stakeholder and Customer Perspective

Stakeholder and Customer Perspective Linked

to

2013/14

Budget

Baseline

2012/13

Target

2013/14

2013/14 Target

2014/15

Target

2015/16 Strategic outcome

oriented goal

Key Performance

Outputs Key performance

Indicator/ Measure (Q1) (Q2) (Q3) (Q4)

Internationally

benchmarked and

accepted measurement

standards in support of

competitive economic

infrastructure and an

improved quality of life

Gazetted National

measurement Standards

Number of Gazetted national

measurement standards

maintained

R 5

7 8

62

00

0

50 50 Yearly target 50 50

New certified reference

materials and methods of

calibration and/or imported

NMS

New CRMs, measurements,

methods of calibration as listed

in the NMISA Chemistry

Reference Materials and

measurement Register and

Improvement of NMS as listed

in laboratory quality

documentation

5 10 Yearly target 14 15

Demonstrated Measurement

Capabilities Number of Calibration

Measurement Capabilities

maintained in the International

Key Comparison Database

(KCDB)

366 382 Yearly target 413 417

Traceability,

measurement expertise

and services

disseminated to South

African commerce and

industry through

certified reference

materials, appropriate

technology and skills

transfer

Dissemination of NMS and

measurement capabilities

Income generated through

calibration, services, sales,

consultation, research grants

and donor projects (REVENUE) R

23

31

5 0

00

kR11

690 kR10

861 kR2

100 kR4

700 kR7

500 kR10

861 kR13 852 kR10 603

Certified reference materials

supplied to health, food,

environment and the chemical

sectors

Number of Certified Reference

Materials sold 86 200 45 55 50 50 220 240

A skilled and capable

workforce for measurements in

industry

Number of industry, SMME

and/ or regional metrologists’

trained in accurate

measurement

14 49 5 21 13 10 64 80

Number of courses developed

and offered to industry 5 6 1 1 3 1 8 8

Organisational (learning and growth) Perspective

Organisational Perspective

Linked

to

2013/14

Budget

Baseline

2012/13

Target

2013/14

2013/14

Target

2014/15

Target

2015/16 Strategic outcome

oriented goal

Key Performance

Outputs Key performance

Indicator/ Measure (Q1) (Q2) (Q3) (Q4)

Requisite expertise and

competence established

and maintained

according to

internationally accepted

standards

Demonstrated competence

and excellence in

measurement through

scientific outputs

Number of refereed and/or

peer-reviewed publications on

measurement science

R 2

2 8

98

00

0 21 18 0 3 5 10 20 27

Number of presentations (oral

and poster) given at

conferences and workshops on

measurement science 50 51 4 7 28 12 58 66

A skilled, competent and

transformed work force Number of staff with PhDs

R 1

2 9

00

00

0

10 12

Yearly target

14 15

Number of staff with M

degrees 30 34 35 38

Number of post graduate

bursars 5 5 7 8

Number of undergraduate

bursars 6 3 3 5

Number of interns and in-

service trainees

5 5 7 7

Financial and Business Perspective

Financial and Business Perspective Linked

to

2013/14

Budget

Baseline

2012/13

Target

2013/14

2013/14 Target

2014/15

Target

2015/16 Strategic outcome oriented

goal Key Performance Outputs

Key performance Indicator/

Measure (Q1) (Q2) (Q3) (Q4)

Upholding the principles of

corporate governance and

compliance to regulatory

frameworks

Established systems and

processes to ensure

compliance to regulatory

frameworks

Actual expenditure to revenue

received

R2

6 7

82

00

0 New KPI 100% 80% 85% 90% 100% 100% 100%

Unqualified audit opinion

New KPI

Un-qualified

audit opinion

Yearly target

Un-qualified

audit opinion

Un-qualified

audit opinion

% of total budget spent on

CAPEX 10% 20% 10% 15% 18% 20% 24% 30%

Reasonable assurance on the

adequacy, effectiveness,

efficiency of internal controls,

risk management and

governance matters

100% completion of approved

Annual Audit Plan and

issuance of Audit Reports

R 1

09

2 0

00

30 100% 100% 100% 100% 100% 100% 100%

Quarterly reporting to the

Audit & Risk Committee 7 100% 100% 100% 100% 100% 100% 100%

Conduct 100% follow-up audit

on Management action plan

emanating from External

Audit

1% 100% 100% 100% 100% 100% 100% 100%

Client services/ customer

satisfaction

Customer satisfaction for

external jobs (measurements,

calibration, CRMs, etc.) >90% >90% >90% >90% >90% >90% >90% >90%

Divisional strategic outcome-orientated goals

Physical Metrology

Strategic Goal 1

Modernisation of the National Measurement Standards (NMS) in Physical Metrology

To modernise the NMS for Mass, Force, Torque, Vibration, Acoustics, Pressure & Vacuum and Flow through the improvement and replacement of aged NMS; 46% of NMS and equipment are older than 10 years

Strategic Goal 2

To be the leading Physical Metrology division in National Measurement Institutes (NMIs) in the SADC region

To implement fit for purpose, internationally recognised, mechanical (physical) calibration services for the South African industry and NMI's in the SADC

Strategic Goal 3

Research in new fields of metrology, focussed nano and materials metrology

Accreditation for dimensional gratings to supply traceable calibrations for nano standards, expand research and development work in nano-metrology and materials metrology and uplift the qualification of the metrologists in the Physical division Strategic Goal 4

To develop NMS in the fields of Underwater Acoustics and Ultrasound

To establish competencies in the fields of Underwater Acoustics and Ultrasound with the purpose to develop NMS in these areas (in support of marine biology, maritime monitoring, diagnostic and therapeutic medical)

Strategic Goal 5

Improve measurement in the capabilities of the calibration of mass standards (weights)

To reduce current uncertainties to meet requirements of OIML class E1.

Strategic

Goal 1

Enhance the impact profile of the IR division for dosimetry and

radionuclide measurements in the country and region

Improved capability for disseminating traceability in radiation therapy, radiation

protection including X ray capabilities, ensure measurement equivalence in

dosimetry measurements for the region and increase services to industry;

project partnership with International Atomic Energy Agency (IAEA)

Strategic

Goal 2

Support the South African nuclear regulatory bodies (DoH and

NNR) through traceable measurements and technical expertise

In collaboration with the National Nuclear Regulator (NNR) establish a radio-

analytical measurement laboratory and pilot audits for hospitals in radiation

therapy, diagnostic radiology and/or nuclear medicine

Strategic

Goal 3

Increased workforce that is knowledgeable in dosimetry

including radionuclide measurements in nuclear applications

Host interns from the NRF/DST project and offer to host interns based in

hospitals for medical physics training. Offer training course in dosimetry and

increase collaboration with universities through joint projects and evaluation of

their medical physics interns

Ionising Radiation

Electricity & Magnetism

Strategic

Goal 1

Improve performance of fibre optics and wireless

telecommunication systems

Improve accuracy of existing fibre optic NMS, design replacements for current

fibre optic responsivity standards, gauge market trends in ITC and continue

research and development work towards optical frequency standards

Strategic

Goal 2

Provide users with knowledge and reliable measurement data to

verify energy saving claims for lighting systems and building

materials

Establish capability to develop methods to measure the photometric properties

of light emitting diodes (LEDs), develop facilities to measure thermal properties

of materials heat management in buildings and conduct feasibility study of the

metrology needs in the South African building industry related to thermo-physical

quantities

Strategic

Goal 3

Enhance the NMS to support the development of a world-class

NMISA

Replacement of obsolete equipment, procurement of new equipment and

improve the radio frequency power

Strategic

Goal 4

Assist international space agencies in benchmarking observed

environmental measurement data

Adapt the current NMS for radiometry to meet space applications

Strategic

Goal 1

Entrench our international standing

Continued international and regional benchmarking to prove core competencies,

increase the CMCs in the international database, attendance at relevant scientific

conferences and increase publication outputs

Strategic

Goal 2

Provide essential support for public policy objectives and initiatives

pertaining to measurement compliance issues related to health,

food safety and the environment

Host a National Research Laboratory for Air Pollution Management and establish

a National Environmental Pollution Compliance and Research Centre for

monitoring toxic chemical substances (POPs) meeting international regulations in

support of health, food safety and the environment, including biofuels

Strategic

Goal 4

Provide support to the South African industry competing in a fast-

paced global economy

Provide improved measurement services to industry through certified reference

materials, measurements and chemical analyses; improve measurement

capabilities of analytical labs through provision of proficiency testing (PT)

schemes and value assignment of reference materials

Strategic

Goal 4

Establish and maintain the necessary expertise and competence

according to internationally acceptable standards

Expand the bursary/ intern pipeline, initiate scientist exchange program and

establish collaborative projects with industry and academia

Chemistry

Research & Technology Development

Strategic Goal 1

Develop knowledge management systems

Implement systems to manage and protect NMISA intellectual property and programmes to leverage existing expertise within the organisation

Strategic Goal 2

Develop R&D programmes to support new measurement standards, reference materials and upgrade of existing measurement standards

Identify National Government needs and priorities and establish technology platforms aligned to national priorities and long-term multi-divisional anchor projects/ programmes Strategic Goal 3

Enhance confidence in the national measurement standards

Increase scientific outputs in peer review journals by 7 % per year, promote scientific activities and outputs at national technical conferences (25 oral and 20 presentations for all NMISA and 3 promotional stands at technical conferences per year)

Strategic Goal 4

Establish and maintain the necessary expertise and competence according to internationally acceptable standards

Create opportunities to attract and host students and post-docs into NMISA research projects and implement incentive schemes to attract and retain top researchers

Technical Infrastructure Development

Strategic

Goal 1

Increase the Impact of Metrology/NMISA Nationally and Regionally

Represent the NMISA and South Africa in Metrology issues related to the region,

ensure inclusion of Metrology in TBT issues and a common trade region; design

model for NMISA Technical cooperation and regional outreach programme

(secure funding and implement in collaboration with partners such as the PTB);

reach at least 15-20 SMMEs and NMIs per annum

Strategic

Goal 2

Decrease the reliance on traceability sourced from outside Africa

Establish NMISA as the traceability link to the SI for SADC and Africa and

maintain our international links with the CIPM and associated activities of the

Metre Convention to influence policy to the benefit of South Africa and

developing countries. Ensure contingency candidate to CIPM

Strategic

Goal 3

Increase bi-lateral collaboration with other key NMIs in Africa and

other trading partners especially the BRIC countries

Negotiate and sign bi-lateral scientific cooperation agreements between South

Africa and NMIs in SADC and Africa to leverage and obtain funding for specific

measurement system development projects at the NMISA. Expand bi-lateral

cooperation with the NMIs of the BRICS countries and collaborate with

identified NMIs (PTB, KRISS Korea and NIST, etc.) to tap into the research

scientist exchange program and to train metrologists

Strategic

Goal 1

Human Capital Development

Enrol 5 postgraduate students for PhD, offer 3 undergraduate bursaries and host 5

interns and in-service trainees

Strategic

Goal 2

Improve organisational qualification profile

Increase qualification profile to; PhD:12; MSc: 34; B Degree:39 and other: 37;

Support 18 internal staff further studies

Strategic

Goal 3

Transformation

Increase black professionals to 51%. Submit employment equity plan

Strategic

Goal 4

Staff attraction and retention

Conduct remuneration survey. Develop new employee classification system for

scientific and support staff and develop new job evaluation system for scientific

staff.

Human Resources

Financial Plan1

The spending focus over the MTEF period will be to provide advanced measurement assistance to specific industry sectors as identified in IPAP, and building capacity in the institution to better fulfil its mandate

Over the MTEF period NMISA projects to grow its grant allocation funding from R76.5 million (2012/13) to R250.8 million (2015/16). The main contributor is the additional funding that is earmarked for the re-capitalisation of the institute in support of the NMS

Over the years, the baseline funding did not increase with scientific inflation (which is significantly higher than normal inflation), and the funding lost from the CSIR was not fully compensated when NMISA was established, actual funding available for capital investments on equipment for hosting the NMS drastically decreased from 55% of the total budget in 2001/02 to an unprecedented low level of 4% in 2010/11

Financial Plan2

A continued declined in capital expenditure would led to the discontinuation and abandonment of some NMS in contravention with the entity’s mandate. To avert the situation, the organisation has embarked on a drive to recapitalise the operations by growing the budget from R76.5 million at the current year to R250.8 million in 2015/16 at an average growth rate of 33% from the allocated baseline

The capital investment in NMS will take a centre stage over the next 4 years and capital expenditure is projected to grow by 27% in 2012/13 and 106% by 2015/16. Also, a significant amount of the funding will still be directed towards human capital capacity building which is currently at ~76% of the original baseline allocation

Additionally, the entity is working on initiatives to identify strategic government initiatives /programs that it can participate in and add more value at lower cost to the state such as the establishment and operation of a laboratory for the National Nuclear Regulator, co-operation with the South African Police Services forensic analysis laboratory, a reference environmental monitoring laboratory, a laboratory for traceability and accurate measurement capabilities for nano-technologies, etc

Revenue Forecast over MTEF Year 2012/13 2013/14 2014/15 2015/16

the dti Grant 81,621,000 145,940,000 202,565,000 250,895,000

Revenue from rendering of services 10,500,000 10,600,000 14,549,000 15,755,000

Investment income 1,190,000 1,261,000 1,336,000 1,400,000

Total Budget 93,311,000 157,801,000 218,450,000 268,050,000

-

50 000 000

100 000 000

150 000 000

200 000 000

250 000 000

300 000 000

2012/13 2013/14 2014/15 2015/16

the dti Grant

Revenue from rendering of services

Investment income

Total Budget

-

50 000 000

100 000 000

150 000 000

200 000 000

250 000 000

300 000 000

2012/13 2013/14 2014/15 2015/16

Capex

Goods and services

Compensation of employees

Total Budget

Projected Expenditure over MTEF

Year 2012/13 2013/14 2014/15 2015/16

Capex 9,000,000 35,499,000 74,099,000 73,884,000

Goods and services 29,522,000 71,139,000 107,395,000 119,136,000

Compensation of employees 48,129,000 64,039,000 80,015,000 99,914,000

Total Budget 93,311,000 157,801,000 218,450,000 268,050,000

Estimate of Expenditure linked to Strategic Objectives

Strategic Objectives Audited Outcome

Revised

Estimate

Medium Term Estimate

R thousand 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Maintenance of the national measurement

standards and international benchmarking 39 959 41 360 50 947 58 135 91 763 126 461 147 335

Dissemination, measurement expertise and

services to South African commerce and

industry by means of calibration,

measurement or analysis and certified

reference materials

13 320 13 787 18 826 17 588 33 536 44 291 52 654

Upgrade of existing measurement

standards and development of new

measurement standards and reference

materials in line with the requirements of

commerce and industry

6 660 6 893 4 775 8 794 16 251 23 899 33 512

Establish and maintain the necessary

expertise and competencies according to

internationally acceptable standards 6 660 6 893 4 776 8 794 16 251 23 799 34 549

Total expense 66 598 68 934 79 324 93 311 157 801 218 450 268 050

Strategic risks M

ain

ten

ance

of

NM

SA a

nd

M

easu

rem

ent

Equ

ival

ence

• Not ensuring international benchmarked and accepted National Measurement Standards in support of competitive economic infrastructure and improved quality of life

Rec

ogn

itio

n a

nd

HR

• Not establishing and/or maintaining the requisite expertise and competencies according to internationally acceptable standards

Co

rpo

rate

Go

vern

ance

an

d

Co

mp

lian

ce

• Not upholding the principles of good corporate governance and compliance to regulatory frameworks

NMISA 2013

THE END

Contact details:

Benjamin van der Merwe

Tel 012-841 3457

NMISA 2013