Code of Ethics

The Company’s core values of accountability, open communication and excellence are instilled via a code of ethics applicable to all employees throughout the Group. This code is adopted annually. Employees behave ethically and honestly under the leadership of the Bidvest Namibia executive committee and board of directors. The code sets out our business principles and provides guidance to employees on how to apply them. 

Bidvest Namibia acts with honesty, transparency, fairness, responsibility and professional integrity in its dealings with employees, shareholders, customers, suppliers and society at large. A fraud hotline through an independent third party enables employees to report any perceived irregular or unethical behaviour in a confidential manner. Any irregularities are reported to the audit committee. During the year under review, six issues were reported which were investigated and handled appropriately.

The chairman is not considered an independent director. The board believes the individuals on the board make quality, independent judgements in the best interests of the Company on all relevant issues. The roles of chairman and CEO are separate and clearly defined. No individual director has unconstrained decision-making powers. The board is governed by a board charter that sets out the roles and responsibilities of the board. The board is responsible and accountable for providing effective and ethical leadership.

Responsibilities include addressing material and strategic issues, directing the strategy and operations of the Group to ensure the building of a sustainable business, monitoring regulatory compliance and codes of best practice, ensuring the communication of adequate and timely information to stakeholders, securing new acquisitions, monitoring operational and investment performance, empowering executive management, risk management and IT governance and promoting good corporate governance within Group subsidiaries. An effectiveness appraisal of the board of directors is conducted every two years through internal evaluation. The development of directors and induction of new directors are conducted informally. The main issues highlighted by the previous evaluation include improving public perception, engaging key stakeholders and driving growth through projects and opportunities.

 

Ethics Line

We are committed to conducting healthy business practices which support our company values of respect, honesty, integrity and accountability, ensuring a stable employment environment and the ongoing success of Bidvest Namibia. We believe in empowering people, building relationships and improving lives. Entrepreneurship, incentivisation, decentralised management and communication are the keys. We subscribe to a philosophy of transparency, accountability, integrity, excellence and innovation in all our business dealings.

To demonstrate this commitment, Bidvest Namibia has made available a free and anonymous ethics line. The service is managed by Deloitte and is independent of Bidvest Namibia. All calls will be reported in total anonymity and without fear of discrimination. The law also provides protection in the form of The Protected Disclosures Act which protects you from being victimised, harassed or dismissed for “blowing-the-whistle” on wrongdoing in the workplace. With your help, we aim to create an open and transparent workplace.

Download Bidvest Code Of Ethics

If you encounter contrary conduct, it’s your responsibility to report it

Anyone can call us in English 24 hours a day, 365 days a year; as well as in Oshiwambo, Otjiherero or Afrikaans during business hours from 08h00 to 17h00, Mondays to Fridays.
Email: bidvestnamibia@tip-offs.com

Free call: 0 800 28 6862

Cellular FreeCall Number: 081 91 847
(MTC to MTC only)



Notice Board

Sens Bidvest Group take-over offer

Shareholders of Bidvest Namibia are informed that Bidvest Namibia has received a intended binding offer from Bidvest Group, the majority shareholder of Bidvest Namibia, in terms of which Bidvest Group intends to make an offer to acquire all of the outstanding ordinary shares in Bidvest Namibia not currently held by Bidvest Group, by way of a take-over scheme. The amount offered in terms of the Intended Conditional Offer is a cash only consideration of N$10.50 per Offer Share, subject to the successful passing of the De-listing Resolution as set out in paragraph 2 below.

Sens Impact of Sale of Bidfish on EPS

Investors are referred to the NENS announcement released on August 31, 2018 relating to the finalization announcement of the sale by Bidvest Namibia of the entire issued capital of Bidvest Fisheries Holdings to Tuncar Fisheries. The results of Bidfish have been presented as discontinued.

Sens Sens Cautionary

Further to the cautionary announcement dated December 12, 2018, shareholders are advised that the Company has entered into discussions, which if successfully concluded, may have a
material effect on the price of the Company´s securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in Bidvest Namibia´s securities until a final announcement is made.

Sens Acquisition of entire Ovanhu and Endeni shares

Bidvest Namibia hereby announces the unwinding of the Ovanhu and Endeni empowerment shareholding structures. Agreements were reached between Bidvest Group Limited (“Bidvest Group”), the majority shareholder in Bidvest Namibia, and the shareholders of Ovanhu and Endeni. In terms of these agreements Bidvest Group will acquire the entire share capital and all claims in Ovanhu and Endeni. Read the full details in the attached PDF.

 





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