2015: R21,9 million
Sanlam Group is committed to providing financial education to economically vulnerable groups in society.
2015: R66,7 million
Sanlam Group is committed to building the capacity of businesses both inside and outside of the Group’s supply chain, with particular focus placed on preferential procurement and transformation.Sanlam Group is committed to providing financial education to economically vulnerable groups in society.
2015: R54,8 million
Sanlam Group maintains a strong focus on furthering education in South Africa across various levels.
2015: 89,69 (Level 2 contributor)
The above illustrates Sanlam’s performance when measured against the generic BBBEE codes that have been assimilated into financial Sector Codes.
Sanlam creates wealth and activates savings and investments through its business operations. The Group distributes wealth through its products and services.
Through the Sanlam Foundation, the Group provides focused contributions that build and support communities, business development and consumer financial education.
The investment management component of the Group’s business model has a material impact on growing wealth for all segments of society by:
The Sanlam Foundation was established in 2011 and is the Group’s primary corporate responsibility medium which provides a coordinated approach to community investment. The Sanlam Foundation’s strategy is aligned with Sanlam’s core business strategy and provides focused contributions in areas of significant impact. The focus areas of the Sanlam Foundation rest on three pillars: consumer financial education, socio-economic development and enterprise and supplier development. All of these work together to support the Group’s primary goal of enhancing growth in South Africa.
The Sanlam Foundation holds itself accountable to the highest standards of governance and accountability. It allocates resources to selected, high-impact projects that represent the Sanlam vision and align with the Sanlam Foundation’s guiding principles, outlined below:
Sanlam employees are encouraged to participate in the activities and projects of the Sanlam Foundation to embed the culture of ‘giving back – a strong element of the Group’s DNA.
The Connectivity pillar of Sanlam’s Employee Value Proposition further encourages employees to connect and take part in various initiatives that support community development.
These projects have delivered value and benefit to communities across the country, however, the Sanlam Foundation recognises that a too-broad distribution of investment hinders efforts to measure substantial impact. Therefore, the Sanlam Foundation will restructure its approach to ensure greater coordination and an increased focus on education. The ultimate goal is to ensure maximum benefit and impact.
To this end, it is conceived that projects will focus more predominantly on schools and literacy linked to mathematics in support of consumer education to harness a culture of savings from an early age, with five main focus areas:
This will form the basis of the Sanlam Blue Ladder Schools Programme. The intended outcomes and impacts of this programme are illustrated below:
Sanlam’s Blue Ladder Schools Programme relies on Theory of Change Methodology to drive social change. While placing strong value on creating tertiary-focused learners, Sanlam recognises that the economy also requires economically active members of society. Sanlam’s Blue Ladder Schools Programme aims to address these needs by developing a blueprint to increase the number of capable and active South African citizens. Once established, it is envisioned that this blueprint can be shared with other organisations and industries across the country to contribute toward the growth and development of South Africa.
Sanlam is a sponsor of Takalani Sesame, a multilanguage, edutainment and multimedia programme focused on early childhood development. In support of Sanlam’s commitment to childhood education, Kwa-Sanlam, an educational roadshow hosted by the Group, has partnered with Takalani Sesame to set up moving, ‘modular’ towns for children across South Africa.
These towns feature various ‘houses’, each with its own character from Takalani Sesame.
A range of mathematics games of various difficulty levels and aimed at different age groups are hosted per ‘house’. These mathematical games are built around real-life activities such as gardening, block building, maintaining a healthy and active lifestyle, and buying goods from local spaza shops.
This initiative aims to foster an interest in mathematics among children when they are most receptive to learning and in the early development phase.
The approach is premised in Sanlam’s belief that mathematics skills can be the foundation of a child’s future and critical in enabling them to ‘live their best possible lives’. Parents are also able to visit the Kwa-Sanlam parents’ area and engage with a Sanlam financial adviser.
More information about Takalani Sesame and Kwa-Sanlam is available online at www.sanlam.co.za
Takalani Sesame was launched in 2000 and is a South African version of the internationally acclaimed Sesame Street. The programme promotes literacy, numeracy, basic life skills and HIV/Aids education, incorporating all of South Africa’s 11 official languages. Takalani Sesame is available on television, radio, online channels and in the form of a community outreach programme. The project won the South African Film and Television Award (SAFTA) for Best Children’s Show in 2016.
The South African Savings Institute places South Africa’s official savings rate at 15%, with household savings at 1,1% and debt as a percentage of disposable income at 76,6%.
The increasing diversification of financial products and services offered in South Africa has complicated financial decision- making for ordinary consumers. As a result, consumers struggle to match financial products to their personal circumstances and manage their finances sustainably.Consumers have high a level of debt which are a function of low levels of income and a high cost of living. This contributes, to low savings rates and is aggravated by associated factors such as predatory lending which aggravates to indebtedness. Consumers are stuck in various cycle of debt due to limited knowledge of resource mechanisms to help them structure debt better and start to save.
Consumers are also highly susceptible to the economic pressures of rising living costs, which can further reduce their appetite for savings products.
This requires the development of cost-efficient products that deliver real value while retaining low cost.
The growing complexity of this environment further suggests that there is an increasingly urgent need for enhanced Consumer financial Education (CFE) that promotes understanding and awareness.
Sanlam recognises that the ultimate goal of CFE is to improve consumers’ financial well-being by helping them to:
The Sanlam Foundations’ chosen CFE programmes respond to these needs. Programmes are conducted nationwide, in rural as well as urban areas, with special attention paid to poorer citizens.
Financial skills training was provided to 14 468 (2015: 15 551) workshop participants. Sanlam’s target for 2016 was 15 000 individuals (8 000 community members and 7 000 worksite members). Employees were also targeted by means of 260 worksite sessions. The project involved the training of 26 peer trainers recruited from communities across the country. The trainers recruited their own learners in turn and were rewarded for their efforts. This enabled individuals to start their own small businesses.
To date, the impact of Money fo Sho! includes:
Project Qaphela is a financial literacy programme that targets members of the National Union of Mineworkers (NUM) across mining, energy and construction. The programme includes basic financial literacy training, makes use of a combination of interactive workshops, edutainment, a series of post-workshop and SMS messages. Project Qaphela is implemented by the ASISA Foundation in partnership with the NUM.
The programme was delivered at various worksites in the Gauteng and North West Provinces. A total of 2 060 mineworkers and shop-stewards received training.
Approximately a third of the respondents indicated that they had undertaken at least one follow up activity since attending the workshop. This most commonly involves consulting their Human Resources department for a better understanding of their payslips or their beneficiary statements. Some consulted a financial planner or debt counsellor;
The objective of this programme is to equip graduates with knowledge to guide their financial decisions when they start formal employment. This programme is managed by the Sanlam Foundation, in partnership with the Sanlam for Professionals’ market team. The programme involves a series of financial literacy lectures that are hosted at various tertiary institutions across the country.
To date, the programme has reached in excess of 1 800 students.
Trustees play a significant role in decision-making related to retirement funds. Sanlam Investments established on a Trustee Education and Training initiative in 2013. The intention of this initiative was to empower trustees with a better understanding of their duciary duties and sharpen their financial skills. This is to ensure that those individuals who are entrusted with the role of trusteeship are better equipped with the requisite information and skills to carry out their duties. The Sanlam Foundation partnered with Sanlam Employee Benefits on this programme.
Sanlam has partnered with the Sulabh foundation in order to improve the state of sanitation infrastructure in some of the Group’s partner schools. This is an educational programme for learners, teachers and parents that promotes environmental, sanitation and health awareness through a range of interactive activities.
Programmes are run on a quarterly basis and each quarter focuses on a specific theme that is chosen to address the objectives of the Sanlam Blue Ladder Schools: Sanitation. Themes include, among others, the environment, water and sanitation; teenage pregnancy; substance abuse; and HIV. Project activities focus on basic personal hygiene, which is a priority for the Sanlam Blue Ladder Schools: Sanitation, as well as safety and providing/maintaining clean toilets. The Sanlam Blue Ladder Schools: Sanitation also aims to build leadership and dignity among learners, based on the premise that if basic needs are satisfied, bigger issues and tasks can be tackled.
A significant aspect of this education programme focuses on the refurbishment of toilet facilities. Prior to renovations, all schools establish maintenance teams that are comprised of learners and school leadership. These maintenance teams commit to the ‘Club I’m Possible’ pledge, which indicates their dedication to keeping school facilities clean.
The Sanlam Blue Ladder School: Sanitation is run in partnership with the Gauteng Department of Education and SICAS, an India-based, global non-profit organisation. SICAS is responsible for the management and maintenance of sanitation infrastructure investment programmes, as well as for overseeing school community development programmes. Over a five-year period, SICAS will also manage ‘Club I’m Possible’, as well as drive the quarterly programmes. The Sanlam Foundation has already committed R3 million towards the renovations of toilet blocks at the six schools, with a further R6 million committed over the next two years.
Sanlam’s Responsible Me programme equips educators and learners with scientific knowledge about HIV/Aids and empowers them with the tools needed for responsible decision-making.
The programme aims to develop a sustainable framework that can be built into a school curriculum. Educators are trained, supported and monitored, and lessons are integrated into the Life Orientation (LO), and Natural Science (NS) learning areas.
Sanlam’s Responsible Me programme equips educators and learners with scientific knowledge about HIV/Aids and empowers them with the tools needed for responsible decision-making. The programme aims to develop a sustainable framework that can be built into a school curriculum. Educators are trained, supported and monitored, and lessons are integrated into the Life Orientation (LO), and Natural Science (NS) learning areas.
The 2016 intervention comprised the following three components:
The following has been accomplished since the programme commenced in 2013:
The programme involves a series of financial literacy lectures that are hosted at various tertiary institutions across the country. The Sanlam Learner Brilliance Project is one of the Sanlam Foundation’s strategic vehicles to address low levels of mathematics and science learning at secondary schools (children between the ages 11 and 18) in South Africa. The programme works with a group of students over a three-year period.
The programme was piloted in 2012, with the first phase targeted at students in the North West and Limpopo provinces running until 2014. This first phase produced a 95% grade pass rate and a 68% bachelor pass rate in Limpopo against a national average of 72,9% and 22,2% respectively. The North West pass rate stood at 98%, with 73% of learners achieving a bachelor pass.
The second phase runs from 2015 until 2018, reaching students in Mpumalanga and KwaZulu-Natal.
The objectives of the TBF it is to drive diversity in the Chartered Accountancy profession and in business leadership.
Other socio-economic projects implemented by the Group include:
Enterprise and supplier development (ESD) is an integral part of Sanlam’s procurement policy as it encourages economic inclusion and poverty alleviation through job creation. Developing enterprises in the supply chain further supports preferential procurement and creates an enabling environment for Small, Medium and Micro-sized Enterprises (SMMEs).
The South African government has prioritised entrepreneurship and the advancement of SMMEs as a catalyst to achieving economic growth and development. Sanlam similarly recognises that transforming its supply chain will enable the Group to contribute toward a more equitable and sustainable society. As such, increasing the number of black-owned and black women-owned enterprises in South Africa remains a top priority.
Sanlam’s approach to ESD centres on nurturing the entrepreneurial talents of individuals, and unlocking opportunities in high growth potential businesses. In addition, Sanlam’s ESD strategy seeks to enhance efforts to create and maintain a network of competent suppliers to drive transformation within the Group’s supply chain.
Sanlam’s ESD portfolio covers the following areas:
The Group has continued efforts to align enterprise and supplier development and preferential procurement in line with changes to the FSC scorecard.
In 2016, 31,41% (2015: 37,32%) of the Group’s procurement spend went to SMMEs. Sanlam Group achieved full points on the FSG scorecard for preferential procurement. The Group continues to implement its ESD strategy through partnerships with:
Sanlam’s ESD Programme was initiated in July 2013 to support the strategic growth and development of SMEs linked to Sanlam’s supply chain and distribution networks. The programme targets the creation of shared value for Sanlam, the industry at large as well as South Africa more generally through the provision of best practice ESD support. This demonstrates Sanlam’s commitment to uplifting South Africa through the promotion of sustainable development and job creation.
During the process of defining the objectives for Sanlam’s ESD Programme, strategic business drivers were identified to ensure that the programme enhanced the competitive advantage of Sanlam’s distribution networks, suppliers and customers, and empowers the environment in which Sanlam operates. As a result, the following key objectives underpin the programme:
The objectives of Sanlam’s ESD Programme are supported by three distinct projects:
Quotes from beneficiaries
“There is more focus on the services we offer and the rate at which we offer these. All of this is negotiated upfront with the client to avoid disappointment in the future. Our fees are generated from the services we offer to clients therefore we should be positioned to aid the client versus selling a product.”
BlueStar business owner.
...think more business minded and factor in all costs before making decisions. All decisions are now more business based rather than emotions based. Keeping track of my expenses versus possible income is what drives this.”
BlueStar business owner.
Parallel to, and in support of its educational offerings, TSiBA provides a basket of enterprise and supplier development programmes to SMMEs. The programmes are supported through the TSiBA Ignition Centre, which is a recognised, third-party service provider of enterprise and supplier development services.
The Ignition Centre’s mission is to be a leading entrepreneurial service hub that offers education and training in business, career management and computer literacy, as well as business mentorship and incubation support for grassroots businesses. In this way, the TSiBA Ignition Centre develops confident entrepreneurs who earn sustainable livelihoods, create jobs and drive economic and social prosperity.
The Sanlam and TSiBA partnership started in 2014. The partnership has supported 10 business, which have created five new jobs. Support provided by the Sanlam and TSiBA partnership has also increased the average revenue of the 10 businesses by 7%.
SBU is a multi-stakeholder collaboration that partners with the private sector, government and civil society to address low levels of entrepreneurship and the high failure rate of 100% black owned, emerging businesses in South Africa.
The SBU offers a structured and subsidised programme that is focused on promoting entrepreneurship as a desirable economic path. The programme also mentors 100% black-owned businesses over a three-year period through the provision of nationwide incubators. SBU further provides participants with access to expertise, office infrastructure and resources, which are critical to supporting the foundations of a sustainable business.
The Sanlam Foundation has supported SBU since 2014, and extended this partnership into 2016. The current partnership supports ten enterprises for a year, with three being supplier development businesses and the remaining seven focused on enterprise development. All ten of the enterprises identified for development are 100% black owned, with turnovers of less than R5 million per annum.
“SBU has opened my eyes to the need to constantly monitor the performance of my business and to develop my leadership ability. They have also shown me that I can take greater risks...”In 2009, Anthea Fransman discovered that there was no one collecting recyclable material from homes in the Northern Suburbs of Cape Town. In response to this, Anthea established Recycle 1st.
Anthea Fransman, owner of Recycle 1st
In 2016, Recycle 1st joined SBU to harness the incubation programme’s mentorship, knowledge and expertise. Recycle 1st has since expanded its service area from only the Northern Suburbs to include Table View and the Southern Suburbs of Cape Town within a one-year period. In addition, Recycle 1st increased its revenue streams to include businesses and apartment complexes. Since joining SBU, the company has also registered a 30% growth in turnover and has grown to 25 people.
Since forming a partnership with SBU and Sanlam, Recycle 1st has achieved key milestones. These include:
Recycle 1st has also been included in Sanlam’s Enterprise Supplier Development Programme. Recycle 1st has begun working with the Cost Centre Heads of Sanlam Facilities.
Founded in 1965, the Sanlam Art Collection holds more than 2 000 items and provides a representative overview of South African art dating from the late nineteenth century to the present.
The Collection is one of the largest corporate collections in the country, and houses some of South Africa’s most valued and promising, emerging artists across cultures and communities. This reflects Sanlam’s belief that art plays a vital role in fostering cultural interaction, mutual understanding and respect. This contributes toward the development of common values in a diverse society.
Initiatives linked to the Sanlam Art Collection include, among others:
Read more about Sanlam’s Art Advisory Service and other Private Wealth Services on the website: www.sanlam.com
Sanlam was a significant partner to this initiative and enabled a number of emerging, established and celebrated printmakers to showcase their work.
A sample of the Collection is on exhibition in the Sanlam Art Gallery located in the Sanlam Head Office in Bellville, as well as the Sanlam Art Lounge in Sandton. With only 2% of the collection on display at any time, the exhibitions are changed on a bi-monthly basis.
Sanlam has identified the following sustainability focus areas to continue its contribution to a prosperous society in 2017: