GOVERNANCE

At the heart of Pareto’s vision to entrench its market-leading position in the retail property sector and mixed use developments, is an unwavering belief in and commitment to excellence in all aspects of corporate governance and management practices.

Pareto’s investment in new or existing retail or mixed use developments – including the consideration of new opportunities – is always based upon the highest level of ethics, governance and responsibility.

The board of directors supports and endorses the principles of sound corporate governance as recommended by the King Report II of Corporate Governance for South Africa, 2002. In line with these principles, Pareto has implemented a fraud prevention plan as well as a policy on risk management.

Through adapting a highly proactive stance on governance issues, Pareto aims to protect and maximize returns for its shareholders and play an important role in meaningfully developing and transforming the commercial property industry.

While growing assets and income for its shareholders is Pareto’s core objective, it is also fully committed to furthering Black Economic Empowerment through preferential procurement. The company has been able to meet the Property Charter requirement of 70% of procurement being channeled through black-owned businesses ahead of the 2010 deadline.

Driving meaningful transformation through quality asset management and investment is a central pillar of Pareto’s existence.        

Vuvuzela “whistle-blowing” initiative

In line with its strong commitment to total transparency and robust corporate governance, Pareto has instituted its own “whistle-blowing” initiative to stamp out fraud, corruption or any other illegal activities.

The Vuvuzela Hotline, which is outsourced to an independent service provider, operates on a strictly confidential basis, ensuring that “whistle-blowers” can provide information with the full assurance that they have complete anonymity.  

Vuvuzela hotline: 0800 17 17 17 or visit www.thehotline.co.za