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PRESENTATION ON DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS OF THE NAMAKWALAND DIAMOND PRESENTATION ON DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS OF THE NAMAKWALAND DIAMOND FUND TRUST 10 AUGUST 2011

MAIN MENU Click on respective section to explore further Introduction & background Summary of MAIN MENU Click on respective section to explore further Introduction & background Summary of developments and progress regarding operations, governance and financials Time line of interactions with Portfolio Committee on Mining, and related outcomes Concluding comments

INTRODUCTION & BACKGROUND Vision & Mission The overall purpose of existence of the NDFT INTRODUCTION & BACKGROUND Vision & Mission The overall purpose of existence of the NDFT has always been, and still is, to ‘improve the quality of life of the inhabitants in its beneficiary areas, by enhancing their social, cultural, and economic wellbeing’

INTRODUCTION & BACKGROUND To this end, the NFDT has over the past 16 years INTRODUCTION & BACKGROUND To this end, the NFDT has over the past 16 years added substantial value across a spectrum of individuals, groupings and projects, including: • • • Financial assistance in the form of bursaries to thousands of tertiary learners and secondary pupils; Educational infrastructure and skills development projects; Charitable contributions to thousands of beneficiaries, for aspects such as funeral assistance, rehabilitation, HIV treatment, old age homes, hospital care and orphanages (rendering financial assistance in terms of operational costs); Support in times of disaster such as financial assistance to farmers during periods of drought; Entrepreneurial opportunities and education in basic trades for instance.

INTRODUCTION & BACKGROUND The radical impact of the cessation of royalty payments to the INTRODUCTION & BACKGROUND The radical impact of the cessation of royalty payments to the NDFT is evident – The reality is simply this: That the original purpose and intent of the Founder – i. e. for the Trust to serve as a catalyst for need fulfilment among the previously disadvantaged rural communities of Namakwaland – would effectively be negated Without its income stream, the Trust cannot support learners (and by implication the leaders of tomorrow); the elderly and destitute will not able to reckon on any support from the Trust, as would HIV sufferers, the disabled, the sickly and the impoverished In the absence of royalties, ‘Achieving its vision’ and ‘living its mission’ would become impossible – and the Trust would be relegated systematically : From ‘change agent’ to ‘relic’ Back to main menu

INTERACTION WITH PORTFOLIO COMMITTEE ON MINING, AND RELATED OUTCOMES 1 • Oversight visit of INTERACTION WITH PORTFOLIO COMMITTEE ON MINING, AND RELATED OUTCOMES 1 • Oversight visit of Namakwaland by the Portfolio Committee on Mining 2 • Presentation by the NDFT to the Portfolio Committee on its Admin & Finance from inception to Oct 2010 3 • Follow up presentation by the NDFT to the Committee on 8 November 2010 on particular areas of concern 4 • Report back on NDFT Board resolutions – based on 3 assignments issued by the Committee – at a meeting in Kimberley 5 • Written feedback by the CEO to the Committee on progress with assignments (dated 25 February 2011) 6 • Written motivation by the NDFT to the PCM for the reinstitution of royalties (submitted during April 2011) 7 • Portfolio Committee’s call for briefing by the Trust on developments and progress with operations, governance and financials Back to main menu

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Registration of HJ Visser SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section to explore further Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section to explore further Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section to explore further Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section to explore further Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Click on respective section to explore further Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Introduction of cost saving measures

SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Registration of HJ Visser SUMMARY OF DEVELOPMENTS AND PROGRESS REGARDING OPERATIONS, GOVERNANCE AND FINANCIALS Registration of HJ Visser as a Trustee Analysis of procedures & effectiveness Area visitations Improvement measures Trustee training Back to main menu Introduction of cost saving measures

REGISTRATION OF HJ VISSER AS TRUSTEE Following the filing of required documentation, Mr HJ REGISTRATION OF HJ VISSER AS TRUSTEE Following the filing of required documentation, Mr HJ Visser was officially registered as a Trustee of the NDFT – Reference Master’s Certificate dated 14 February 2011 – and duly assumed duties on 1 March 2011. The Trust sadly noted the passing of Mr Visser during May 2011 and the Master has been informed accordingly. Back to sub menu

ANALYSIS OF PROCEDURES AND EFFECTIVENESS q As reported to the Portfolio Committee in February ANALYSIS OF PROCEDURES AND EFFECTIVENESS q As reported to the Portfolio Committee in February 2011, the legal advisors of the NDFT (Edward Nathan Sonnenbergs – ENS) had been requested to advise on the most appropriate modus operandi for investigating the processes and procedures in operation at the Trust q ENS submitted an outline – detailing 3 possible avenues for doing the analysis – on 12 April 2011 q At a Special Board Meeting of 15 April 2011, the NDFT passed resolutions for the analysis (as per the third method proposed) to be conducted and reported on by the Trust’s professional advisors LDP, ENS and Sterling; and for an advisor to be appointed in order to table particular recommendations based on the reports thus received q The analysis as mandated has commenced, and the first report is expected at the end of August 2011

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Click on respective button to explore further Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Click on respective button to explore further Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Analysis of Decision making processes Interviews with staff

ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Back to ANALYSIS OF PROCEDURES AND EFFECTIVENESS Analysis of Trust Deed Reporting Remuneration analysis Back to sub menu Analysis of Decision making processes Interviews with staff

ANALYSIS OF TRUST DEED Analysis of the Deed of Trust, with regard to – ANALYSIS OF TRUST DEED Analysis of the Deed of Trust, with regard to – q q q Aims of the Trust Prescribed procedures (pertaining to Trustees) Compliance with Deed of Trustee meetings Trustees’ duties Assumption of Trustees Termination of Trustee appointments Recommended amendments Trustees’ Code of Conduct Financial Statements of the Trust Expenses and remuneration of Trustees and Employees respectively q Trust Property Control Act q Income Tax Act q Legal opinions by ENS Back to sub menu 3/16/2018 #1

ANALYSIS OF DECISION MAKING PROCESSES Analysis of decision making processes, with regard to – ANALYSIS OF DECISION MAKING PROCESSES Analysis of decision making processes, with regard to – q q q The Operational Policy The Human Resources Policy Allocation of grants to beneficiaries Frequency of meetings Attendance of meetings Duration of meetings Implementation of decisions Consequent and related expenditure Minutes of Board and Committee meetings Role of Executive Committee Role of Sub Committees Back to sub menu 3/16/2018 #1

INTERVIEWS WITH STAFF Interviews with staff to – q Seek additional information and clarification, INTERVIEWS WITH STAFF Interviews with staff to – q Seek additional information and clarification, where required q Verify assumptions q Corroborate provisional findings q Check and cross-reference perceptions Back to sub menu 3/16/2018

REMUNERATION ANALYSIS Remuneration analysis to – q Benchmark and compare with similar institutions q REMUNERATION ANALYSIS Remuneration analysis to – q Benchmark and compare with similar institutions q Correlate internal and external equity of pay practices Back to sub menu 3/16/2018

REPORTING Final stage of the analysis involves – q A written report comprising findings, REPORTING Final stage of the analysis involves – q A written report comprising findings, conclusions and recommendations q Presentation to and interaction of Trustees with professional advisors about recommended changes and optional plans for implementation Back to sub menu 3/16/2018

INTRODUCTION OF COST SAVING MEASURES It need to be noted that q The NDFT INTRODUCTION OF COST SAVING MEASURES It need to be noted that q The NDFT did not waste any time in implementing cost savings measures, and in fact keeps a very close eye on all aspects related to financial expenditure; q However, the Trust is awaiting a written report from its professional advisors about recommended changes and optional plans for implementation; q Upon the receipt of the report - detailing findings, conclusions and recommendations - the NDFT would most definitely institute further cost saving measures, as and when required and upon taking appropriate advice.

INTRODUCTION OF COST SAVING MEASURES Cut back on Trustee expenses Termination of vendor agreements INTRODUCTION OF COST SAVING MEASURES Cut back on Trustee expenses Termination of vendor agreements Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of vendor agreements Cut back on Trustee expenses Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of vendor agreements Cut back on Trustee expenses Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of vendor agreements Cut back on Trustee expenses Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of vendor agreements Cut back on Trustee expenses Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of INTRODUCTION OF COST SAVING MEASURES Click on respective button to explore further Termination of vendor agreements Cut back on Trustee expenses Reduction of operational overheads Cost saving measures Sell off of assets Budgetary revisions

INTRODUCTION OF COST SAVING MEASURES Cut back on Trustee expenses Termination of vendor agreements INTRODUCTION OF COST SAVING MEASURES Cut back on Trustee expenses Termination of vendor agreements Cost saving measures Sell off of assets Back to sub menu 3/16/2018 Reduction of operational overheads Budgetary revisions

CUT BACK ON TRUSTEE EXPENSES Cut back on Trustee expenses effected in two areas CUT BACK ON TRUSTEE EXPENSES Cut back on Trustee expenses effected in two areas - q Reduction in transport allowance from R 7 -20 to R 5 -00 (before tax) per/km as from 1 August 2011 q Reduction in attendance fees from R 3334 -00 to R 1662 -00 per day as from 1 January 2012 Back to sub menu 3/16/2018

REDUCTION OF OPERATIONAL OVERHEADS Reduction of operational overheads by - q Strict monitoring of REDUCTION OF OPERATIONAL OVERHEADS Reduction of operational overheads by - q Strict monitoring of telephone calls (and duration); limited calls to cell phones; elimination of unnecessary printing, photo copying etc. q Special consideration of tele-communications system which would facilitate drastic cost savings in the longer term q Weekly control of budget and closure of the feedback loop The current admin budget of R 10. 5 million, compares well with the 2010 figure of R 14. 6 million. Back to sub menu 3/16/2018

BUDGETARY REVISIONS Over and above the introduction of strict budgetary control measures and pre-emptive BUDGETARY REVISIONS Over and above the introduction of strict budgetary control measures and pre-emptive variation reporting, elimination of the following line items have brought about bottom line savings (as per recent Board Resolutions) - q Elimination of social development allocation of R 110000 -00 q Savings on Management Fund of R 73000 -00 Back to sub menu 3/16/2018

SELL OFF OF ASSETS The recent sell-off of under-utilised vehicles will effect a longer SELL OFF OF ASSETS The recent sell-off of under-utilised vehicles will effect a longer term cost saving in terms of finance, running and maintenance costs Back to sub menu 3/16/2018

TERMINATION OF VENDOR AGREEMENTS The Trust has commenced with a reconsideration of all standing TERMINATION OF VENDOR AGREEMENTS The Trust has commenced with a reconsideration of all standing service agreements with a range of vendors, and in a number of instances - where feasible and practicable – negotiations are underway to facilitate cut backs and/or termination of service level agreements with selected vendors Back to sub menu 3/16/2018

TRUSTEE TRAINING During July 2011 a Training Workshop was held with the Board of TRUSTEE TRAINING During July 2011 a Training Workshop was held with the Board of Trustees and Staff Members, during which the following issues were discussed and clarified: q The implication of the Trust Deed on roles, responsibilities, rights and obligations of all stakeholders q The nature and scope of Trustees ‘discretion’ q Amendments to the Trust Deed and the impact of these on the Trust’s strategy and operations q Alignment of the Trust’s Operational Policy with the Trust Deed Back to sub menu 3/16/2018

AREA VISITATIONS In keeping with its annual communications roll-out to its beneficiary areas, NDFT AREA VISITATIONS In keeping with its annual communications roll-out to its beneficiary areas, NDFT representatives concluded public meetings with constituent representatives across Namakwaland. These meetings were utilised to brief and update beneficiaries as to the current state of affairs related to the business of the Trust, and aspects such as changes to the Trust’s financial position (in view of the suspension of royalty payments), its interaction with the Portfolio Committee, and the impact this would have on the meeting of expectations, were tabled and discussed. The respective communities were unanimous in their call upon the Trust to persist in its endeavours towards procuring royalties, so that poverty stricken families may be assisted and supported, as in the past; in this, the Trust was mandated to do everything in its power in order to facilitate the reinstatement of royalty payments.

AREA VISITATIONS Meetings were held in the following areas: NO AREA NO OF ATTENDEES AREA VISITATIONS Meetings were held in the following areas: NO AREA NO OF ATTENDEES DATE 1 SANDDRIFT 27 13 NOVEMBER 2010 2 LEKKERSING 70 14 NOVEMBER 2010 3 CONCORDIA 135 18 NOVEMBER 2010 4 BUFFELSRIVIER 32 07 NOVEMBER 2010 5 KOMAGGAS 64 07 NOVEMBER 2010 6 KUBOES 30 13 NOVEMBER 2010 7 EKSTEENFONTEIN 42 14 NOVEMBER 2010 8 STEINKOPF 57 15 NOVEMBER 2010 9 PELLA 43 12 FEBRUARY 2011 10 LELIEFONTEIN – OOS 34 19 FEBRUARY 2011 11 LELIEFONTEIN – WES 80 20 FEBRUARY 2011

CONCLUDING COMMENTS The the Board of Trustees and the staff of the NDFT are CONCLUDING COMMENTS The the Board of Trustees and the staff of the NDFT are well aware of the serious implications brought about by the suspension of royalty payments and the fact that the usual operation of the Trust as a change agent has been severely curtailed. In response, all stakeholders are unanimous in their quest to lessen the dire consequences of this as far as possible, and staff as well as Trustees in particular have introduced preliminary cost saving measures. When the analysis of processes and procedures as outlined highlight further areas for improvement, these would be acted upon without hesitation, thereby also effecting cost savings. It stands to reason though, that cost savings and effectiveness improvement measures can only steady the ship – one which would inevitably succumb should royalties not be reinstated. The NDFT remains steadfast in its resolve to work towards this with every means at its disposal and acquit itself of the accountability it received in terms of the Deed of Trust in 1994 – i. e. to promote the advancement, empowerment and upliftment of the rural communities of Namakwaland. Back to main menu