All parties contemplating any contract with Liberty or any of its subsidiaries are entitled to know in advance its ethical and moral attitudes to conducting business. This code of ethics attempts to provide this information as simply as possible. This code applies to Liberty Holdings Limited and its South African subsidiaries and international business activities.

Our approach to business ethics

  • We will operate and compete in accordance with the principles of free enterprise. Free enterprise is, however, constrained by observance of the law, and by generally accepted principles governing ethical behaviour in business.
  • Ethical behaviour is founded on the concept of utmost good faith and characterised by integrity and reliability.
  • Ethical business transactions will benefit all relevant parties by a fair exchange of value or satisfaction of need.
  • The creation and enjoyment of profit is both a legitimate component of this exchange and an incentive to continue in business.
  • Other than the observance of legal and ethical commercial practices, we expect no favours from our competitors, nor should they expect any from us.
  • We expect equivalent standards of ethical behaviour from those with whom we deal.
  • It is incumbent upon us to strive for excellence in our ethical standards, as in any other aspect of our activities.
  • We will at all times adhere to the principle of sound corporate governance and zero tolerance of fraud or corruption in our business.

Liberty's vision for ethics

For Liberty to be regarded as ethical, we will strive towards a shared commitment to the same vision and principles and behave according to the same ethical standards. The Liberty code of ethics incorporates our core values (integrity, trust, and honesty) to describe our relationships with our stakeholders (the State, our customers, our shareholders, the public, financial advisers, our employees and our suppliers), focusing on our obligations to stakeholders. We will strive at all times to fulfil these obligations.