Being accountable

The group regards sound corporate governance as a strategic imperative and vital when ensuring a sustainable business. Rolfes is committed to the highest standards of ethical conduct in its dealings with all stakeholders. Bribery and corruption are not tolerated at any level and employees are encouraged to conduct activities objectively and in a manner that complies with all the requirements of the Anti-fraud and Corruption Act and the Protected Disclosures Act. The core of this commitment is to apply the highest standard of ethical conduct in dealings with all stakeholders. Ultimately, the board is responsible for ensuring the ethical behaviour of the group and as such directors are required to prescribe to the five moral duties of conscience, care, competence, commitment and courage.

The ethical corporate culture of the group holds that all directors follow ethical standards; that the interests of all stakeholders should be taken into account in making decisions; that the conduct of individuals needs to improve moral values; that business activities should be conducted with integrity, fairness and vision; that fair competition practices are followed in all aspects of the business’s activity; and that poor performance is never blamed on the exercise of good ethical standards. Rolfes applies the principles and the recommended practices of King IV and its application is set out in this website.

Application of King Code on Corporate Governance (”King IV”)


A formal code of ethics is in place which requires all directors and employees to be committed to fair dealing, honesty and integrity in the conduct of its business and also outlines the group’s position on gifts and entertainment. The code of ethics has been actively endorsed by the board and distributed to all employees. The code is designed to raise ethical awareness, act as a guide in day-to-day decisions and to assure customers and other stakeholders of the group’s commitment to ethical behaviour. The code of ethics is communicated in the induction process for all new employees outlining the group’s core values and its compliance procedures. Compliance by all employees with the high moral, ethical and legal standards of the code is mandatory, and if employees become aware of, or suspect, a contravention of the code, they must promptly and confidentially report it in the prescribed manner. Appropriate action has been taken in respect of all reported instances of non-compliance with the code by employees.


Rolfes has an established whistleblowing policy and has an anonymous reporting facility, enabling employees and other stakeholders to report fraudulent, corrupt or unethical behaviour related to any of the group’s activities, without fear of victimisation and retribution. Anonymity is guaranteed, and the facility is managed in compliance with the Protected Disclosures Act, No 26 of 2000. All whistleblowing matters are reported to the audit and risk committee. We remain focused on promoting ongoing awareness among employees regarding the whistleblowing process and transparent reporting procedures.