Page 21 - SETCO Report 2018-2019

Chapter 4: Ethics

13 Govern compliance with applicable laws and adopted, non-binding rules, codes and standards in a way that
supports the organisation being ethical and a good corporate citizen.

14 Ensure that the organisation remunerates fairly, responsibly and transparently so as to promote the
achievement of strategic objectives and positive outcomes in the short, medium and long term.

15 Ensure that assurance services and functions enable an effective control environment, and that these support
the integrity of information for internal decision-making and of the organisation’s external reports.

16 In the execution of its governance role and responsibilities, adopt a stakeholder-inclusive approach that
balances the needs, interests and expectations of material stakeholders in the best interests of the
organisation over time.

17 In the case of an institutional investor organisation, ensure that responsible investment is practiced by the
organisation to promote the good governance and the creation of value by the companies in which it invests.

DEBT FORGIVENESS

The effectiveness of debt forgiveness in providing liquidity to markets and rehabilitating consumers back
into the credit cycle has been proven in various developed markets.

Credit repair is a goal that we promote within our operations, in an attempt to get “over-indebted
consumers” into a better financial position.

Nimble offers meaningful settlement discounts on portfolios that it purchases. These normal market
practices are supplementing government’s efforts to alleviate the burden of over-indebtedness

2,500
2287.2
2111.9
2,000

1,500

1,000

500 126.6 175.2
55.5 87.4
30.8 24.7 31.9 39.2 48.6
12.1
0
2013 2014 2015 2016 2017 2018

ANNUAL DEBT FORGIVENESS PROVIDED BY THE NIMBLE GROUP (R bn)

CUMULATIVE DEBT FORGIVENESS (R bn)

19