Principle 1.2 of King III addresses the social aspect of corporate governance and states that the KZNGBB should ensure that the company is and is seen to be a responsible corporate citizen. As a responsible corporate citizen, the KZNGBB should protect, enhance and invest in the well-being of the economy, society and the natural environment. The KZNGBB is in a position to promote equality, prevent unfair discrimination, combat corruption and ensure the development of communities in which it operates.
The KZNGBB has a mandate as a regulator to ensure that its licensees comply with applicable legislation such as the BEE Act and Codes and with licence conditions imposed. Both this legislation and the conditions specify obligations which the licensees must adhere to in regard to corporate social investment.Certain levels of compliance are required and the KZNGBB monitors the achievements of its licensees.
During the financial year reported on, the Board has ensured the following:
Monthly monitoring of socio economic development in the area of job creation is monitored by the Licensing, Registration, Monitoring Compliance Committee. To date there are 3247 permanent employees registered with the Board as gambling and betting employees.
Below is an overview of the gambling industry job creation at a Provincial Level for the past 3 years: