Momentum Metropolitan is committed to the highest standards of corporate practise and strives to implement the best processes and principles of good corporate governance to create value for all stakeholders.
Furthermore, Momentum Metropolitan's business philosophy is informed by its values and its desire to be the leading financial services provider on the African continent. Appropriate best practice is adopted and monitored in all the countries where it has operations.
The Memorandum of Incorporation MOI is the founding document of Momentum Metropolitan and sets out the rules governing the conduct of the company.
This Framework summarises the principles, methodologies and procedures used in Momentum Metropolitan to support effective governance and living our values.
We will meet clients' needs by providing a range of appropriate, value-for-money financial solutions in our market segments. In support of this vision we will conduct our business ethically. We will therefore do what is right.
The main function of the remuneration strategy is to support the HR strategy by helping to build a competitive, high performance and innovative company with an entrepreneurial culture that attracts, retains, motivates and rewards high-performing employees.
Assessment of King principles
In the past, Momentum Metropolitan undertook regular assessments on the application and implementation of King III. Post the coming into effect of King IV during April 2017, Momentum Metropolitan conducted and considered on its application and adherence to the seventeen King IV principles. The outcome of the assessment reveal that Momentum Metropolitan’s governance processes are well entrenched and that the group applies and complies with all the principles of King IV.
Momentum Metropolitan will, going forward, make every endeavour to implement the King IV Recommended Practices as far as practically possible for its business.
The board of Momentum Metropolitan Holdings has been designated as the axis around which the execution of the group's corporate governance revolves. The board is mandated in terms of its charter, and the board committees in terms of their respective terms of reference.
The Balance Sheet Management Committee merged with the Risk and Compliance Committee and now functions as the Risk, Capital and Compliance Committee.