Our commitment to transformation is deep rooted and extends beyond compliance with the broad-based black economic empowerment (B-BBEE) codes of good practice. Driving execution against our transformation vision is ultimately the responsibility of the group’s board and the social, ethics and transformation committee.
Transformation is a permanent item on the group executive committee’s agenda and is included in senior management’s performance scorecards.
Our transformation intent is supported by our sustainable transformation framework which includes the implementation of clearly defined objectives aligned to the amended Financial Sector Code (FSC), B-BBEE Act requirements and the UN SDGs. Consideration is also given to the material priorities, needs and concerns of
our legitimate stakeholders as well as existing business activities and value offerings that can serve as instruments of transformation.
Having a lasting impact on society is integral to our vision. For us, it is about creating realistic, impactful and sustainable broad-based opportunities in partnership with those who have previously been denied such prospects.
B-BBEE scorecard and independent verification
Our B-BBEE scorecard verification is based on the amended FSC and has been certified by an authorised independent verification agency, AQRate Verification Services. This verification applies to all South African companies within the group. We have steadily improved our performance over the last decade and a half, moving from being a Level 5 contributor in 2007 to Level 1 in 2021 and 2022. This is testament to our commitment to the wellbeing of the society in which we operate.