NVFH 2020 Integrated Annual Report

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Social & EthicsCommittee Reportfor the year ended 29 February 2020.NVest is a broad range Financial Services and Property Group with over R30.1 billionin assets under management and administration as at 28 February 2019 and is nowin its fifth year of operation as a listed entity on the Alternative Exchange of the JSE.The Social and Ethics Committee (“the Committee”) was established by the NVestBoard in 2015 to consider and monitor the moral and ethical conscience of theGroup. The Committee is constituted and operates according to the CompaniesAct, 2008 (No. 71 of 2008) as amended (“the Companies Act”), Section 43(5) of theCompanies Regulations and the King IV report on corporate governance (“King IV”).The Committee comprised five members during the year under review being;Siviwe KwatshaChairman - Social & Ethics Committee• Mr Siviwe Kwatsha (Chief Information Officer) as Chairman of the Committee• Mr Brendan Connellan (Company Secretary)• Mr Jonathan Goldberg (Independent Non-Executive Director)• Dr Lana Weldon (Independent Non-Executive Director)• Mr Travis McClure (Subsidiary Director)Anthony Godwin (Group Chief Executive Officer), Taryn van der Poel (GroupHR Manager), Phumla Chitwa (Head: Group Compliance), Colette Sutherland(Assistant Company Secretary), Nathan Carr (Head: Group Legal) as well asother members of the Board, Executive Management and the DesignatedAdvisor attend meetings by invitation.The Committee met four times during the period under review and receivedfeedback from management on matters under the Committee’s oversight.The Committee reports on any significant matters to the Board in terms of itsmandate. The meetings held, and the member’s attendance, during the periodare set out below:Name of member 21 May 2018 20 Aug 2018 19 Nov 2018 18 Feb 2019Siviwe Kwatsha Present Present Present PresentJonathan Goldberg Present Present Present PresentBrendan Connellan Present Present Present PresentTravis McClure Present Present Present PresentDr Lana Weldon Present Present Present PresentThe responsibilities and functions of the Committee, which are aligned with theCommittee’s statutory functions as set out in the Companies Act, formed thebasis of the Work Plan for 2019/20. These activities are as follows:(a) To monitor the Group’s activities, having regard to any relevant legislation,other legal requirements or prevailing codes of best practice, with regard tomatters relating to:(i)Social and economic development, including the Group’s standingin terms of the goals and purposes of:(aa) the 10 principles set out in the United NationsGlobal Compact Principles (UNGCP);56NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020
(bb) the Organisation for Economic Co-operationand Development (“OECD”recommendations regarding corruption;(cc) the Employment Equity Act; and(dd) the Broad-Based Black EconomicEmpowerment Act.(ii) Good corporate citizenship, including the Group’s:aa) promotion of equality, prevention of unfairdiscrimination, and reduction of corruption;(bb) contribution to development of thecommunities in which its activities arepredominantly conducted or within whichits products or services are predominantlymarketed; and(cc) record of sponsorship, donations andcharitable giving(iii) The environment, health and public safety,including the impact of the Group’s activities and ofits products or services.(iv) Consumer relationships, including the Group’sadvertising, public relations and compliance withconsumer protection laws; and(v) Labour and employment, including:(aa) the Group’s standing in terms of theInternational Labour Organization Protocolon decent work and working conditions;(bb) the Group’s employment relationshipsand its contribution toward the educationaldevelopment of its employees;(cc) to draw matters within its mandate to theattention of the Board as occasion requires;and(dd) to report, through one of its members, toshareholders at the company’s annual generalmeeting on the matters within its mandate.During the year under review the Committee attended tomatters relating to the Work Plan above and reported to theBoard accordingly. The monitoring of and conformance tothe above is on-going within the Group structure.The Company has elected include this Social and EthicsCommittee report in the Annual Report in addition to therequirement of paragraph a)(v)(dd) above.NVest conformed with the formal policies previouslyimplemented to address the following:1. Social and Economic Development.NVest adheres to the principles set out in the UNGCP and theOECD recommendations on corruption. NVest is committed tocomplying with the labour law requirements of the EmploymentEquity Act (No. 55 of 1998). No incidents have been reported.2. Good Corporate Citizenship.NVest subscribes to the provisions of the Promotion of Equalityand Prevention of Unfair Discrimination Act (No. 4 of 2000).No incidents have been reported.3. The Environment, Health and Public Safety.NVest subscribes to and is compliant with the OccupationalHealth and Safety Act (No. 85 of 1993). No incidents havebeen reported.4. Consumer Relations.NVest subscribes to and is compliant with the ConsumerProtection Act (No. 68 of 2008). No incidents have been reported.5. Labour and Employment.NVest supports and adheres to the terms of the InternationalLabour Organisation Protocol. NVest is materially compliantwith the following Acts: the Basic Conditions of EmploymentAct (No. 75 of 1997), the Labour Relations Act (No. 66 of 1995),the Skills Development Levies Act (No. 97 of 1998) and theUnemployment Insurance Act (No. 63 of 2001) as amended.In addition to the above, particular progress was madeduring the year under review in respect of the following:• To assist the Committee in carrying out its responsibilities,the Social and Ethics Dashboard (“the Dashboard”)remains aligned with the core responsibility areas of theCommittee’s oversight role and serves as a consolidatedmonitoring tool in respect of the Group’s Social and Ethicsactivities. The Dashboard is reviewed as a standing agendaitem at Committee meetings. The Dashboard has shown asteady improvement across the spectrum, with significantprogress in areas that posed a higher risk to the Group.• The Dashboard, alongside the Risk Register and Risk EventLog, is reviewed at the Group Risk and Control Committeemeetings as well as at the respective subsidiary Board meetingsto ensure that the most up to date and accurate information iscollated to inform the monitoring tool and process.• Under the Group-wide Risk and Control Framework, policieson Corporate Social Responsibility, Ethics, Procurement,Recruitment and Diversity have been reviewed.• The Committee played an instrumental role in guiding,shaping and reviewing policies which clearly articulate theGroup’s stance and commitment on matters within theCommittee’s terms of reference.• Furthermore, the Committee oversees the monitoring ofa whistle blowing channel and protocol for internal andexternal parties to raise their concerns on the operations ofthe business and/or the conduct of our staff.During the year under review, the Committee has revised its termsof reference and recommended a number of policies relating toits work to the Board. Accordingly, the Committee is satisfied thatit has fulfilled its responsibilities in terms of its terms of reference, theJSE Listings Requirements, its Memorandum of Incorporation andthe Companies Act for the reporting period and is operating inconformity and compliance therewith. The Committee, in fulfillingits mandate as prescribed by the Companies Regulations to theCompanies Act, as found no instances of non-compliance withthe regulations. Finally, there have been no incidents reported onthe anonymous whistle-blower service.The progress made by the Committee against its mandatewas only possible through the constructive engagement andcontributions of its members, invitees and the support of the Board._____________________________Siviwe KwatshaChairman25 May 2020NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 57
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GroupAwards2019 Morningstar Award-
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Contents06 Chairman’s Report08 Ch
Page 9 and 10: 01ABOUTNVESTHOLDINGSNVest Financial
Page 11 and 12: As a consequence of all of these th
Page 13 and 14: those of the previous year and, sec
Page 15 and 16: SubsidiaryFeb 2020RevenueFeb 2019Re
Page 17 and 18: worldwide, resulting in an economic
Page 19 and 20: REVENUE - FEB 2020REVENUE (R)Invest
Page 21 and 22: ANTHONY DENIS GODWIN (60)CHIEF EXEC
Page 23 and 24: DR LANA JOY WELDON (46)INDEPENDENT
Page 25 and 26: Siviwe Relebohile Kwatsha (41)Group
Page 27 and 28: Name:Rob MastersLocation:NFB PWM EL
Page 29 and 30: Name:Melany AnnandaleLocation:NFB I
Page 31 and 32: 02GROUPAFFAIRSNVest Financial Holdi
Page 33 and 34: 199019941995Beyond our borders. NFB
Page 35 and 36: Our BusinessSummaryBrand Core Produ
Page 37 and 38: The evolutionof the NFB Brand1985NA
Page 39 and 40: NFB Private Wealth Management -the
Page 41 and 42: NFB Private Wealth Management- triu
Page 43 and 44: Loaves & Fishes NetworkDeep poverty
Page 45 and 46: NVest Financial Holdings Limited |
Page 47 and 48: Corporate Governance& Sustainabilit
Page 49 and 50: needs of the Board in considering s
Page 51 and 52: A detailed report of the Social and
Page 53 and 54: Legal Compliance: The inherentrisk
Page 55 and 56: PART 5.2: Strategy, performance and
Page 57 and 58: Principle 9Evaluations of the perfo
Page 59: • the Group’s risk management a
Page 63 and 64: • internal audit policy including
Page 65 and 66: Remuneration andNominationsCommitte
Page 67 and 68: an incentive basis (mainly through
Page 69 and 70: Directors Responsibilitiesand Appro
Page 71 and 72: IndependentAuditor’s ReportIndepe
Page 73 and 74: Key audit matterGoodwill assessment
Page 75 and 76: material uncertainty exists, we are
Page 77 and 78: GeneralInformationNVest Financial H
Page 79 and 80: NVest Financial Holdings Limited an
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NVest Financial Holdings Limited an
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GeneralInformationCompany NameDate
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Notice of AnnualGeneral Meeting & P
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Explanatory note for ordinary resol
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person/s authorised by the board),
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In order for this resolution to be
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Special Resolution Number 1 -Genera
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(c)) and in terms of the memorandum
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NVFH 2020 Integrated Annual Report

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