We are committed to maintaining the highest standards of corporate governance.
Our corporate governance framework is designed to ensure that timely and accurate disclosures are made on all material matters regarding our company, including its financial situation, performance, ownership and governance.
Saconets’s management pays significant attention to promoting transparency and information disclosure standards throughout the company in a belief that partners’ and investors’ confidence is critical to business success. Saconets has reported its annual consolidated financial statements under GAAP since our operation, certified chartered accountants firm as the company’s auditor. Saconets invited independent directors to participate on its Advisory Board.
Saconets adheres to the highest quality standards, including establishes certification of professionals and internal quality systems.
The Board of Directors of the Company currently consists of the main share holders and is advised by a separate Advisory Board. The Advisory Board provides advice to the Board of Directors on all strategic and other significant decisions of the Company. The President of the Saconets heads the Advisory Board and is ultimately responsible for external communications with investors and public bodies.
The Board of Directors may, by resolution of the directors, designate one or more committees, each consisting of one or more directors, and delegate one or more of their powers, including the power to affix the seal, to the committee.
On November 2010 Saconets Executive Boards proposed to the boards of Directors a resolution to set up Saconets subsidiary in the Republic Democratic of Congo and other CEMAC member States.
This decision was approved by the board of Directors and Saconets is now incorporated and registered in Congo as a subsidiary of Saconets Plc Cameroon, the parent company.
Corporate social responsibility (CSR)
Corporate Social Responsibility (CSR) is the vehicle used to implement sustainable development strategy within the company. The three fundamental principles of sustainable development, namely the economic, social and environmental aspects of doing business, are integrated into Saconets’ strategy and its operations and relationships with its stakeholders. These principles are supplemented by corporate governance which encompasses the principles of ethics and business conduct.
As CSR is transversal in nature, it is necessary to ensure top-level coordination amongst all departments within Saconets. The committee is made up of members from the Human Resources, Legal, Communication, Industrial Management, Technical/Research and Development, Environment, Purchasing, Marketing and Risk Management departments.
Two specialized Committees, made up of various working groups, have the task of steering and coordinating themes and projects in the following fields:
- - Governance and social
- - Environmental and products