Full annual report - African Bank - Investoreports

Scorecard information*
Target
score
Banking
unit score
2011
Banking
unit score
2010
Retail
unit score
2011
>accountability
Retail
unit score
2010
Ownership 20,00 7,35 6,45 7,35 6,45
Management and control 10,00 5,40 4,28 – 1,49
Employment equity 15,00 8,80 8,59 3,97 3,99
Skills development 15,00 12,60 6,73 5,62 2,44
Preferential procurement 20,00 16,79 15,22 18,34 16,78
Enterprise development 15,00 15,00 0,72 15,00 12,65
Socio-economic development 5,00 4,03 4,11 5,00 5,00
Total score 100,00 69,97 46,10 55,28 48,80
* Data on 2012’s performance not available at time of publication.
GRI EC1, EC8
To achieve continuous improvements in the group’s rating, a review of opportunities
to enhance our empowerment and transformation status was conducted, and
areas for improvement identified using the CoGP scorecard as a guide, as discussed
in detail below. In the short term, ownership, management and employment equity
have been prioritised, while the group continues to focus on the upliftment of the
skills base of our people.
Promotion of empowerment and equity ownership
This pillar measures access to finance and also looks at the ownership element of
the scorecard.
The group’s primary commitment continues to be at the centre of improving the lives
of South Africans through broadening and deepening access to credit. While our
target market has broadened to include all South Africans who would like to access
credit, the majority of our customers continue to be those who historically had no
access to credit. The group’s focus remains to provide credit which helps individuals
improve their homes and quality of life, educate their children, assist new and striving
entrepreneurs to start and support their businesses through personal loans, as well as
address general personal and household needs for individuals.
ABIL enabled shareholders to create wealth through its two empowerment vehicles,
Eyomhlaba and Hlumisa, which sold shares at a substantial discount to a broad
base of Black shareholders (which included employees, customers and other
qualifying Black people in South Africa). As at 30 September 2012, the two
companies owned 68 million ABIL ordinary shares, which equated to an effective
BEE shareholding of 8,5%. Of the 8,5%, 2% is owned by Black women, and 1,4% is
owned by Black directors of ABIL.
In February 2012, the two companies paid R10 million to shareholders as ordinary
dividends.
CoGP’s ownership scores for both the Banking and Retail units have improved to
7,35 (2010: 6,45).
Developing our people – human capital
This measures three elements of the CoGP scorecard, namely; management
control, employment equity and skills development. These are amongst the areas
of priority for the group in 2013.
African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 137