Sanlam is determined to support the national imperative of transformation, as well as to succeed in our mission to create wealth for all our stakeholders, through the economic empowerment of previously disadvantaged groups.
Our progress towards Broad-based Black Economic Empowerment (BBBEE)
19th most empowered company
Sanlam was recently rated as the 19th most empowered company out of the Top 200 companies listed on the JSE, in a survey conducted on behalf of the Financial Mail, by Empowerdex. We were placed 56th in 2006.
Financial Sector Charter (FSC): A-rating
From the outset of the FSC process, Sanlam has played a strong leadership role. We continue to contribute to and often lead industry processes, both through industry associations such as the LOA (Life Offices Association) and active support of the FSC council, as well as broader industry associations such as Business Unity South Africa (BUSA).
Although no empowerment scorecards are yet formally gazetted as codes of practice for the measurement of BEE, we’ve been measuring our BEE status against the FSC – we do this in order to provide investors with guidance on our probable empowerment positioning, were the FSC to be gazetted in its current form.
As you can see from the table below, Sanlam received an A-rating – the highest possible rating a financial institution can achieve - from the National Empowerment Rating Agency (NERA) for our BEE status in the Financial Sector Charter reporting process.
|Core Component ||Weighting ||Achieved 2006 ||Achieved 2005|
|Human resources development ||20 ||1,52 ||2,2|
|Procurement and enterprise development ||15 ||11,98 ||9,4|
|Access to financial services || |
|*Empowerment financing ||5 ||5 ||22|
|Ownership and control ||20 |
|Corporate social investment ||3 ||3 ||3|
|Total ||75 |
|Rating ||A ||A|
*Change of measurement basis in 2006
Please click here to download a copy of our FSC rating certificate.
Click on the links below for more useful information on our commitment towards transformation and broad-based black economic empowerment:
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