Interfront 2023 Annual Report

About this Report	3
GENERAL INFORMATION	6
CorporateInformation	7
Foreword by the Chairperson	8
Overview by the Acting Managing Director	10
Statement of Responsibility and Confirmation of Accuracy	12
Strategic Overview	13
Legislative and Other Mandates	16
Organisational Structure	16
Our Business Model and Capitals	18
PERFORMANCE REPORT	23
Report of the Agsa: Predetermined Objectives	24
Overview	24
Operational Highlights	26
Operational Challenges	27
Operational Outlook	27
Information and Communication Technology (Ict)	28
Situational Analysis	29
Performance Information	31
Performance Report	36
Linking Performance with Budgets	42
GOVERNANCE	44
Introduction	45
Portfolio Committees	45
Executive Authority	45
Interfront Board	46
Board Committees	50
Remuneration of Board Members	52
RiskManagement	52
InternalControl Unit	53
Ethics	55
Health, Safety and Environmental Issues	56
Company Secretary	57
Social Responsibility	57
Audit and Risk Committee Report	58
B-BBEE Compliance Performance Information	62
HUMAN CAPITAL MANAGEMENT	63
Overview	64
Human Capital Priorities for the Year	66
Workforce Planning	67
Performance Management Framework	68
Employee Wellness Programme	68
Policy Development	68
Achievements	69
Challenges	69
Future Hr Plans/Goals	70
The Employee Value Proposition (Evp)	70
Reasons for Employee Losses	78
Transformation and Employment Equity Growth	79
FINANCIAL INFORMATION	81
Board’s Responsibility and approval of the Annual Financial Statements	82
Report by the Board of Directors	84
Financial Report	88
Report of the Auditor-General to Parliament on the International Frontier Technologies SOC Ltd	91
Annual Financial Statements	99
ANNEXURE	131
ANNEXURE A	132
LIST OF ABBREVIATIONS AND ACRONYMS	134

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