Samherji to implement corporate governance and compliance system

Samherji has taken steps to implement a corporate governance and compliance system. The decision to implement the system was made based on experience from the company’s operations in Namibia. The new system will be part of the Samherji Group’s future management structure and will cover Samherji and all its subsidiaries.

“Samherji will develop and implement a holistic compliance system based on the company’s risk structure with focus on, among others, anti-corruption, economic sanctions and anti-money laundering,” says Mr. Björgólfur Jóhannsson the interim CEO of Samherji. The system is expected to be implemented and up and running later this year. 

“The compliance system will be key in a new internal program, where we will require all employees to take active part in the process to reassess our values, culture and routines. We will implement a system for risk assessment, code of conduct and policies in the compliance system.”

Jóhannsson says that even though Samherji has faced serious accusations from the media in recent months the company has managed to protect relationships with customers and partners both domestically and abroad and continued to service all customers as normal.  “Our employees have, as always, done a fantastic job focusing on making sure we deliver product of top quality to the local and international market,” says Jóhannsson.

Samherji is currently de-investing its operation in Namibia but that will take some time. The process will be conducted in close dialogue with relevant authorities and in line with international standards and law.