A robust and effective risk management system is crucial for the assessment, monitoring and mitigation of risk identified within the group. Ethical leadership and human capital are the cornerstone of Trustco’s risk management as these ensure sound corporate reputation and effective governance. As an investment group, the risk management process takes cognisance of risks and opportunities throughout the group as well as the risks and opportunities inherent in its investment portfolio.

Some subsidiaries and investees in the group have specific risk policies, while others are covered by the group risk framework. The board evaluates the risk profile and appetite of the group for each material transaction prior to entering into it.

The board of directors is ultimately responsible and accountable for the management of risk within the group, the determination of risk appetite and risk tolerance as well as the implementation, oversight and monitoring through the ARCs. The board discharges its responsibilities for risk management through the group governance structure and more specifically the subsidiary ARCs. The ARC is responsible for the oversight of risk management, which includes forming its own opinion on the actual effectiveness of the risk management process and policies in the group’s operations. This is escalated to the board which further ensures oversight of the framework, policies, opinions and maintenance of the systems of internal controls. Management is accountable to the board for the design, implementation, maintenance, monitoring and integration of the process of risk management in the dayto-day activities of the group. The following is in place to assist with risk management to ensure the group achieves its strategic and operational goals.


The group maintains effective risk management through internal controls and an assurance framework based on adherence to King IV, the JSE and NSX LR, the Namibian and South African Companies Acts and the NamCode. The group aims to remain compliant with the applicable laws and regulations.