About our report

Our integrated report is our primary communication to all stakeholders. It is prepared in accordance with the International <IR> Framework of the International Integrated Reporting Council (IIRC) and provides a balanced and accurate assessment of the resources upon which we rely, and the material issues and risks that have the potential to affect the implementation of strategy and the group's ability to create value in the short, medium and long term.

It also provides information on how we are governed, our operating context, strategy, business model, operational and financial performance, risks and opportunities and our engagement with stakeholders.

In addition to the integrated report, we publish audited annual financial statements, as well as comprehensive sustainability and remuneration reports. All are available on our website

Scope and boundary

Reporting frameworks

In preparing our integrated report we were guided by:

  • JSE Listings Requirements.
  • The Companies Act, No 71 of 2008.
  • The King IV Report on Corporate Governance for South Africa (King IVTM*).
  • The IIRC's International <IR> Framework.
  • The FTSE/JSE Responsible Investment Index Series.
  • GRI G4 guidelines and CDP standard.

The financial information in this report was prepared in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) and was derived from the consolidated financial statements and is consistent in all material respects. Copies of the independent auditor's report are available for inspection at the company's registered office.

Reporting period

This report covers the period from 1 October 2018 to 30 September 2019 and includes all Nampak's businesses and associates in all the territories in which it operates, except where specifically noted. Significant events, if any, after year-end and before the approval date of this report, are also included.

Operating businesses

We report on our operations by:

Packaging substrate
  • Metals
  • Plastics
  • Paper
  • Glass (discontinued operation)
  • South Africa
  • Rest of Africa
  • United Kingdom and Republic of Ireland

All significant items are reported on a comparable basis.

Significant changes during the reporting period
  • We entered into an agreement to dispose of the Glass business subject to certain conditions, including the approval of the South African competition authorities.
  • We disposed of the Cartons business in Nigeria subject to the approval of the local competition authorities.
  • The board decided to dispose of the Plastics business in Europe as it is not considered strategic for Nampak.
  • We adopted hyperinflation accounting for operations in Zimbabwe.

We apply the principle of materiality in assessing the information that should be included in our integrated report and only report on those items that have or may have a significant impact on our ability to deliver on our strategy, create stakeholder value and contribute to the future sustainability of the group. The determination of materiality is informed by key stakeholder material issues and these are dealt with fully in this report.

Internal control and assurance

Nampak assesses risks based on material issues that will hamper the performance against the six capitals. We work to refine the coordination, integration and alignment of assurance activities. A robust combined assurance framework was adopted to provide the governing body with a holistic view of risks and controls and indicate whether the mitigations are effective.

The board, supported by the audit and risk committee, ensures an effective control environment which supports the integrity of our information. Our systems of internal control are designed to provide reasonable assurance against material misstatement. We assessed our controls in 2019 to be adequate and effective through the confirmation of management and reports from the internal and external auditors.

Approval by the board

Nampak's board of directors acknowledges its responsibility for ensuring the integrity of the integrated report and has applied its collective mind in the preparation and presentation of this report. In our opinion, the 2019 integrated report addresses all material issues, fairly represents Nampak's performance and is presented in accordance with the framework of the IIRC and King IV.

Signed on behalf of the board

Peter Surgey
André de Ruyter
Chief executive officer
Glenn Fullerton
Chief financial officer

26 November 2019


The following icons provide links to additional information:

This icon gives you references to supporting information throughout the report.

This icon tells you where you can find more information online and on our website: www.nampak.com

These icons are for our material issues .


We strive to improve our reporting and welcome any comments that will assist us in doing so. Please contact nondyebo.mqulwana@nampak.com


This integrated report contains forward-looking statements that, unless otherwise indicated, reflect the group's expectations at year-end. Actual results may differ materially from the group's expectations. The group cannot guarantee that any forward-looking statements will materialise and, accordingly, readers are cautioned not to place undue reliance on them. The group disclaims any intention and assumes no obligation to revise any forward-looking statement, even if new information becomes available, other than as required by the JSE Listings Requirements or any other applicable regulations.