GOVERNANCE
At the Efficient Group, we are committed to upholding the highest governance standards by fostering a culture of integrity, responsibility, and sound risk management. Our governance framework is designed to protect stakeholder interests, promote long-term value creation, and comply with regulatory requirements. The Efficient Group has a strong Board of Directors, including several non-executive members and independent non-executive directors, bringing a well-balanced mix of knowledge and expertise.
The chair of the Efficient Group’s board holds the status of an independent non-executive director, underscoring our commitment to impartial oversight and governance. The Board of Directors provides strategic oversight, while independent committees ensure robust internal controls, ethical conduct, and compliance with ESG principles. Through continuous evaluation and improvement of our governance structures, we aim to enhance trust, mitigate risks, and drive sustainable business growth. Various independent assurance providers also offer added security regarding the Efficient Group’s financial performance, as well as its economic, social, and environmental contribution and impact.
Date security and protection of personal information
- The Efficient Group recognises its social responsibility to protect personal information effectively.
- We do not send unsolicited emails to our clients, and they have the option to opt out of receiving direct marketing material.
- Our Privacy Notice is readily available on our websites, ensuring easy access for clients and third parties. These policies outline how we collect, use, and share personal information.
- Employees are expected to implement privacy practices like keeping the collection and sharing of personal data to a strict minimum, being open and transparent about the management of personal data, and applying collection and use limitations.
- We continuously strive to raise awareness about the importance of protecting personal information. Our ongoing training and awareness initiatives ensure that employees are equipped with the necessary knowledge to safeguard company and client data. During this financial year, all employees successfully completed an e-learning training course on the Protection of Personal Information Act (“POPIA”), which included a knowledge assessment.
- To reinforce data security, cyber controls are rigorously tested through security assessments conducted in collaboration with independent external specialists.
Treating customers fairly (TCF)
- Our TCF Policy and Code of Conduct and Ethics Policy place a strong emphasis on accountability and integrity. All employees are required to uphold these principles in their daily tasks, regardless of their role.
- The fair treatment of our clients is the cornerstone of the Efficient Group. As such, TCF training is an integral part of our employee induction programme.
- Our compliance team is responsible for monitoring our selling practices and ensuring they remain fair and fully compliant with financial services industry regulations.
- During the reporting period, we measured our TCF performance through surveys conducted with clients and employees. Our TCF score—based on complaint ratios, client surveys, and employee surveys (each weighted equally)—achieved a rating of 83% in meeting the TCF fairness principles.