Business environment

Our business environment is impacted by several key factors which will be explored in more detail throughout this report. The aviation sector and increasing demand for air travel, which is driven by global GDP growth, air service agreements and air fare prices, have an effect on our business. Economic regulation affects our ability to plan for the future, achieve our strategic objectives and create value for stakeholders. Our economic environment and economic trends impact on our ability to provide certain aeronautical transport services and to contribute positively to the South African economy. The social environment in which we operate demands that we align our value creation model with inclusive growth within South Africa. Finally, technology also shapes our ability to adopt innovative solutions for the purpose of constantly improving our safety, security, operational efficiency and customer service.
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Integrated risk management process

Our enterprise risk management process is designed to allow the Group to both explore potential opportunities for gain while monitoring, measuring and minimising potential adverse impacts. Through an integrated risk management approach through the Board and Audit and Risk Committee, Airports Company South Africa’s oversight of risk governance ensures that risk is appropriately balanced and mitigated.
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Stakeholder management

The Group’s stakeholder management activities help us to build mutually beneficial relationships between Airports Company South Africa and our stakeholders in order to create sustainable value. Our stakeholder management strategy is delivered through formal mechanisms for communication and engagement.
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Our stakeholders, the material expectations and concerns, and their role in our value creation process is outlined in the adjacent table.