Risk management and compliance
- Enterprise Risk Management (ERM)
Our robust approach to risk management supports the implementation of our strategy and enables the Group to mitigate risks through identification of solutions and opportunities. AfroCentric’s risk management is overseen by the Board and its sub-committees and managed by governance structures.
The ERM framework provides a structured and systematic enterprise-wide approach to risk management within the Group. It is aligned with King IV principles, the Committee of Sponsoring Organisations of the Treadway Commission’s (COSO’s) ERM framework, and the International Organization for Standardization (ISO) 31000:2018 risk management framework.
Group compliance universe: A critical framework that facilitates a compliance environment is our approved compliance universe containing applicable legislation. The legislation is categorised according to significance, namely core/primary, secondary and topical.
We complied with legislative requirements and the General Data Protection Regulation.
- Business continuity planning
Increased focus is placed on business risk in relation to business continuity management to ensure our services, which are deemed as essential, continue in times of disruption. We invoke business continuity plans (BCPs) at the start of any disruption. We also and enable remote working across the Group to continue to deliver these essential services.