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The King IV Code on Corporate Governance (the King Code)


South Africa

South Africa

Access legislation







Applicable to

Listed companies in South Africa and Public companies whose securities are listed on the Johannesburg Stock Exchange (JSE)

Key requirements

The King Code recommends that the board should comprise the appropriate balance of knowledge, skill, experience, diversity and independence for it to discharge its governance role and responsibilities objectively and effectively.

In light of these recommendations, as informed by global trends, board diversity is becoming an ever-greater priority for South African companies, particularly in light of the nation's unique history and the prevalent role that Broad-Based Black Economic Empowerment (B-BBEE) plays in the corporate environment.

The traditional understanding of diversity is also evolving in South Africa: the Listings Requirements have long required the adoption of policies that promote racial and gender diversity at board level, but an amendment introduced in December 2019 expands on these diversity attributes to include culture, age, experience and skill set, in line with the King Code.


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