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FASSET | Annual Integrated Report 2022/23

5.6 Remuneration of Board Members

Board members and independent members of the ARC were remunerated in line with the AA and Committees
Remuneration Policy as informed by the National Treasury and DHET guidelines. Board meetings were
remunerated at a daily rate aligned to Category S. Board members were also reimbursed for out-of-pocket
expenses.

Table 9: Board Remuneration and Disbursements for the Financial Year ended 31 March 2023

Board and Committees
Name of Member Other Disbursements
Remuneration
Ms Lynette Ntuli 132 158,24 663,43
Ms Mamatshililo Nhlapo 171 770,20 1 510,64
Ms Rofhiwa Singo 139 080,00 678
Mr James Maboa 147 628,40 519
Mr Xola Lingani 138 918 0
Mr Metuse Mbasa 217 313,93 3 902,92
Ms Thandi Masemola 336 066,62 1 729,06
Mr Nthato Mapiloko 239 449,10 5 452,99
Ms Tlakale Phatlane 219 902,88 9 689,72
Mr Bongani Mathibela 271 714,46 1 539,78
Ms Malebo Magasa 134 209 328
Ms Mopo Mushwana 298 360,80 5 589,78
Ms Angel Nyathela-Mahanjana 159 798 0
Ms Pumla Ngwenya 104 126,04 0
Mr Peterson Khumalo 169 980 0

6. RISK MANAGEMENT

FASSET has and maintains an approved risk management policy, enterprise-wide risk management framework,
risk appetite and tolerance statements which are regularly reviewed. These documents provide a standard guide
on how enterprise-wide risk management is rolled out throughout FASSET.

The policy statement clarifies that the Board, along with its Executives and Management, recognises that
risk management is a critical management tool for ensuring the achievement of objectives or outcomes and
ultimately delivering on its mandate.

Risk assessments are conducted annually and reviewed quarterly, and as part of the review process emerging
risks are identified. A Risk Management Committee (RMC), which focusses on risk management and
compliance matters, is in place and meets quarterly. The RMC is chaired by an independent non-executive
member reporting to the ARC.

The ARC with independent non-executive members is in place. The Committee provides an oversight function
on behalf of the Board to assess the effectiveness of the risk management process. Risk management and a
compliance implementation plan was developed and approved for the period under review. This plan guided
risk and compliance activities. Quarterly risk and compliance progress reports are tabled at the RMC for
consideration and recommendation to ARC for review and approval.

Make the future count.
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