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Corporate Governance and Structure

RBH is committed to the highest standards of governance, rooted in our mandate, and the legacy and traditions of Bafokeng. These values, including transparency, accountability and collective decision-making, are integral to our ethos. Aligned with King IV principles, our governance approach focuses on outcomes, emphasising the board’s role in achieving ethical culture, effective control and stakeholder legitimacy. These principles are woven into our internal controls, policies and corporate conduct procedures, reflecting our commitment to ethical governance.

We constantly seek ways to create value beyond compliance. This is demonstrated in our commitment to transparency, robust stakeholder engagement practices and corporate social investment programmes. Creating value beyond compliance also extends to our investee companies. While we do not get involved in the operational affairs of our investee companies, we sit on their boards and, in this way, we are able to contribute to their strategic management as well as provide governance oversight.

Our governance Framework is benchmarked against industry peers and aligns with local and international best practices. Guided by robust policies and standards, strategically designed for regulatory compliance, growth, and sustainability, our governance Framework ensures the consistent pursuit of stakeholder interests. We have adopted various Frameworks, standards, and codes, reflecting our dedication to maintaining the highest standards of corporate governance: King IV Code, Responsible Investing Framework, the Department of Trade, Industry and Competition’s (dtic) B-BBBEE Codes of Good practice, and the Companies Act.

Governance Structure

The RBNDT maintains a 100% shareholding in RBH. Oversight of RBH is entrusted to the RBH board, supported by the Audit and Risk, Committee, Social and Ethics Committee and the Remuneration and Nomination Committee. The day-to-day operations of the business are under the purview of the CEO, supported by an executive team.

To ensure good governance, the accounts of all entities (including RBH) within the RBN are audited and financial reports are presented annually at Kgotha-Kgothe, the community general meeting and the highest decision-making body in the Nation. It is convened twice a year to review the performance of all entities belonging to the RBN. The second-highest decision-making body is the Supreme Council, comprising traditional headmen as well as elected and appointed councillors.The Supreme Council is responsible for establishing and monitoring policies and social spending priorities.

As RBH, we are proud of our consistent track record of clean audits since our establishment.

How We Are Governed

RBH Governance structure [chart]

Unpacking Our Structure

The RBN, a traditionally governed Setswana-speaking community, is home to approximately 128 000 residents residing across 29 villages in the Rustenburg valley. Twice a year, the entire community gathers during Kgotha-Kgothe, the highest decision-making body. This assembly fosters open communication between the community and its leaders, allowing active participation in decision-making processes.

The Supreme Council, the second-highest governing body after Kgotha-Kgothe, is responsible for policy development and oversight. To execute the will of the RBN people, various governance structures and implementing entities have been established, including Royal Bafokeng Administration (RBA), Royal Bafokeng Enterprise Development (RBED), Moumo, Cross Point Trading (CPT), Royal Futures Group (RFG), Royal Bafokeng Institute (RBI) and Royal Bafokeng Sport (RBS). The RBNDT, established in 2004, oversees the commercial and socio-economic imperatives of the Nation.

RBH actively collaborates with its fellow entities within the RBN, synergising efforts to contribute meaningfully to the Nation’s overarching vision. While RBH’s focus remains steadfast on our mandate – preserving the wealth of the nation and generating income for the shareholder – we recognise that our success is interwoven with the collective prosperity of the RBN. This collaborative and introspective approach ensures that we align our strategies with the evolving needs and aspirations of the RBN, fostering a dynamic and mutually beneficial partnership.

RBH structure [chart]