At Blacksmith, we believe in a strong framework of corporate governance. We endeavour to follow the Zambian Governance Code, as well as any applicable recommendations in each sector we participate within.
Blacksmith's key governance principles are:
Transparency and Accountability;
Compliance and Regulatory Oversight;
Strong Internal Controls with Separation of Powers
Separation of Ownership and Management
Blacksmith has instilled a compliance and risk culture in its operations. The Board has outlined the plan of action to continue to develop the Company as a best-practice family office. To adopt and follow best practices in Corporate Governance, the family office relies on existing international standards rather than trying to define its own standards. We have, therefore, integrated a selective set of standards into our internal manuals and policies, which include:
Our Company Policies and Compliance Manual, which incorporates relevant provisions of the Zambian Corporate Governance Code. Although the family office is not listed on any stock exchange, it follows relevant recommendations. As a result, the Board of Directors at Blacksmith is primarily responsible for the adoption and review of all risk-management and compliance policies. Likewise, our Non-Executive Directors act as “a sounding board for the Chairman”.
Blacksmith has a zero-tolerance approach to bribery and corruption. This policy extends to all the company’s business dealings and transactions across all countries in which it, its subsidiaries and associates operate. All directors and employees are required to comply with this policy.