Sasol Integrated Report 2023 - Book - Page 20
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
GOVERNANCE AND REWARDS
PERFORMANCE
ADMINISTRATION
CHAIRMAN9S STATEMENT
During turbulent times, we need to do more
to restoring our credibility, showing we are
able to navigate with confidence.
KEY MESSAGES
Dear stakeholders
Delivering on promises
Returning value to shareholders
Attracting investment
Across the world, the past year was one of
significant volatility. Apart from the devastating
humanitarian toll, the Russia/Ukraine war
contributed to stubborn inflation and high
interest rates, subdued economic growth, and
disruption to the energy ecosystem and the pace
and scale of the energy transition. There is no
doubt that the challenge of our time is to reshape
the sector while maintaining the supply of
affordable and sustainable energy to meet the
needs of people, while safeguarding the planet
from environmental degradation.
In addition to the impact of global developments
on South Africa9s economy, its weak performance
was exacerbated by intensifying power shortages,
deteriorating logistics, and political and socioeconomic upheaval.
Sipho Nkosi // Chairman
Our foundation business remains an all-important enabler to realise
Future Sasol. It is for this reason we are giving increased attention
to ensuring that we bring stability to the business by focusing on
resetting our business for resilience.
Sasol was not immune to the impact of these
challenges, many of which informed the material
matters for our integrated reporting which were
identified and approved in the year. In support
of integrated thinking and integrated reporting,
the Board considered these material matters,
as each has the potential to affect our ability
to create and preserve value over time.
IR
MAINTAINING FOCUS
Zero Harm
Safe and reliable
operations
Progress and embed
environmental, social
and governance
Operational stability
Sustainable business
in the future
Sustainable shareholder returns
Sasol 2.0 delivery
Enhance cash
flow generation
For more detail on our Material Matters refer to page 39
Internally, we recorded two tragic workplace
fatalities, highlighting the critical necessity to
keep safety at the centre of everyone9s focus.
In the aftermath of the pandemic, people9s
mental health deteriorated, aggravated by
rising unemployment and increased poverty.
Investor sentiment towards South Africa
worsened, hit by the country9s recent grey listing
by the Financial Action Task Force, the global
intergovernmental body enabling the combatting
of money laundering, terrorist financing and
the financing of the proliferation of weapons of
mass destruction. Investor sentiment was also
affected by questions on the efficacy and
prudence of South Africa9s non-aligned stance on
the Russia/Ukraine war. These factors accelerated
capital outflows and put at risk a significant
portion of export revenue from trading partners
as a response to the decisions by the South
African government.
SASOL INTEGRATED REPORT 2023
19
DIRECTORS’ APPROVAL
OF INTEGRATED REPORT
Through the perseverance and diligence
of Team Sasol, a stronger platform has
been shaped to deliver our Future Sasol
ambitions.
The Board is ultimately responsible for ensuring
the integrity of Sasol9s integrated reporting.
The Board gave attention to management9s
evaluation of the effectiveness of the disclosure
controls and procedures. Other than the material
weakness and other internal financial control
deficiencies reported in the Form 20-F, we believe
Sasol has designed such internal controls over
financial reporting to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external
purposes in accordance with International
Financial Reporting Standards.
Notwithstanding the deficiencies in internal financial
control we confirm that the 2023 Integrated Report
addresses all material issues and matters which
affect the Group9s ability to preserve and create value
and fairly represents the Group9s integrated
performance. This report and its publication was
approved on 31 August 2023.
The Board confirms that Sasol is in compliance
with the provisions of the Companies Act, 71 of
2008 relating to its incorporation and is operating
in conformity with its Memorandum of
Incorporation (MOI).
Board review and approval
Sipho Nkosi
Fleetwood Grobler
Hanré Rossouw
Chairman of
the Board
President and
Chief Executive Officer
Chief Financial
Officer
Vuyo Kahla
Manuel Cuambe
Muriel Dube
Executive Director
Independent
non-Executive Director
Independent
non-Executive Director
Martina Flöel
Katherine Harper
Beatrix Kennealy
Independent
non-Executive Director
Independent
non-Executive Director
Independent
non-Executive Director
Nomgando Matyumza
Mpho Nkeli
Andreas Schierenbeck
Independent
non-Executive Director
Independent
non-Executive Director
non-Executive Director
Stanley Subramoney
Stephen Westwell
Independent
non-Executive Director
non-Executive Director
Independent
Independent
