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These community development projects are focused on: 162 Social welfare Sports development Environment Job creation Education 10% 10% 10% 20% 50% ■ Education, with particular attention being centred on the sciences; mathematics, English literacy and computer literacy (50% of available funds allocated to education); ■ Job creation (20%); ■ Sport development (10%); ■ Environmental projects (10%); and ■ Social welfare (10%). Project proposals are submitted for evaluation to regional CSI committees which comprise both employees of the Banking unit, as well as external members with specific skills or interest, and who participate on these regional committees on a voluntary basis giving of their expertise and time in order to enhance the quality of decisions taken. Each project is scrutinised carefully against the strategic framework set by the board of trustees as well as project specific criteria, inter alia, the implementation timeline; proposed outcomes or results which in every project must be clearly and quantitatively defined in order to measure success; overall budget requirements; the cost per beneficiary; the administration or project management cost as a percentage of the overall project; and the latter measure there to ensure that a high percentage of the funds allocated are used to the benefit of the beneficiaries and not the project leaders. Once approved in the respective regional committees memoranda of agreement are entered into formalising the relationships with the project implementers, defining success milestones to be reached against which staged draws are made, recording the success measured between the parties, specifying reporting requirements and generally documenting the scope and nature of the project. On implementation each project is allocated a project monitor, generally one of the regional committee members, whose task is to monitor project progress and ensure that no barriers or blockages to success are encountered, but without in any way reducing the project implementers’ accountability nor intervening in the project. Repeat project proposals are only considered once all deliverables for an approved project have either been met in full and in accordance with the signed project charter or where sufficient progress towards meeting these deliverables has been made with a clear indication that the project will succeed. Community development activities during the year In the 2011/2 financial year the ABIL Development Trust funding impacted the lives of 43 065 primary beneficiaries through the delivery of 38 projects in the five regions. KwaZulu-Natal implemented 14 projects in the Ilembe district, followed by Gauteng with 11 projects in Ivory Park and Tembisa, then Eastern Cape with five projects in Veeplaas and Walmer, Limpopo with four projects in Blouberg and Western Cape with four projects located in the Blackheath/Electric City/Eerste Rivier/Mfuleni area, north of Khayalitsha. The total project community development spend was R8,8 million. Performance against budget allocation Due to the overwhelming challenges being faced in education, the largest portion of the CSI spend was disbursed to this need. These projects played a significant role in helping disadvantaged children in key aspects such as information technology (in KwaZulu-Natal); physical science (with projects in all five regions); mathematics (in two regions); English literacy and early childhood development (in four regions). Whilst there is also an overwhelming need for job creation in South Africa the challenges of job creation remain extremely high. Many training institutions offer skills training, often at high cost being subsidised through various SETAs, but very few of these projects guarantee employment on successful completion of the training, nor do they offer vital support or mentorship on the job during the first few months; both of
Number of projects 9% 5% ■ KwaZulu-Natal ■ Gauteng ■ Eastern Cape 4% 3% ■ Limpopo ■ Western Cape 79% >accountability which criteria are prerequisites for approval for funding in the Banking unit’s programmes. A highlight for the CSI initiative has been the spontaneous partnering by other organisations with the ABIL Development Trust where the social impact of our projects has been recognised. This gearing effect has served to add further momentum to the projects or alternatively, to complement the trust’s activities where funders have chosen to fund other activities aligned to our work but which the trust has been unable to fund. An example of this is the donation of libraries and resources to various schools in Limpopo and KwaZulu-Natal secured through the efforts of our English literacy partners in each of these areas, thereby increasing the social impact to these schools. Organisations who have partnered the trust to date include the Ilembe Chamber of Commerce, Industry and Tourism (ICCIT), Enterprise Ilembe, Afrisun, Rotary and the Gavin Hood Foundation. African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 163
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Responsible credit with passion, co
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ABIL group - shareholders, funders,
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Contents Group profi le 2 Operating
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Operating structure >ABIL in perspe
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Our values We pledge to live by the
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‘03 ABIL achieves investment grad
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African Bank Investments Limited Fi
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African Bank Investments Limited Fi
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Shareholders’ profile Top fund ma
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2007 2006 2005 2004 2003 >ABIL in p
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2007 2006 2005 2004 2003 >ABIL in p
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Robert John (Johnny) Symmonds (53)
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Mojankunyane Florence (Mojanku) Gum
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Contents Letter to stakeholders 24
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Incwadi eya kubabambiqhaza Isingeni
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Ulwazi oluhambelanayo lungatholakal
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Umhlaba oncintisanayo Ukukhula okuk
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labele izidingongqangi ezikhulayo e
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Ukuze uthole olunye ulwazi ngemizam
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ngo-1994. Wenze ukufaka isandla oku
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usiness overview Material issue Why
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For more information on people rela
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egistered some short term gains and
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What sets us apart Quality of our p
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Active engagement with our people i
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Our customers Engagement methods St
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ABIL engaged with a wide group of l
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The most important of these are dis
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The risk base of the group is not c
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Return on equity in line with targe
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Retail unit Consolidation adjustmen
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Retail unit Consolidation adjustmen
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Share based payment reserve Other O
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Financial returns >business overvie
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Gross profit margin % 46 44 42 41 3
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were launched in October. The virtu
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Number of employees - Banking unit
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Of the credit cards issued in 2012,
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Disbursement features Disbursements
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Vintage graph - African Bank (More
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Liabilities Funding >business overv
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Capital management >business overvi
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The changes to capital adequacy on
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Contents Corporate governance repor
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Corporate governance structure Grou
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Board meetings and attendance >acco
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Conflict of interest All directors
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The office of the group compliance
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Introduction and report objectives
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■ Ensuring that there is an adequ
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Component Summary Benefits Benefits
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Exposure to existing long term ince
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The components of executive directo
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LTIPs awarded to executive director
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accountability the annual general m
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Risk management objectives >account
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Three levels of defence as applied
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Page 117 and 118: For more detail, see the group’s
Page 119 and 120: accountability Risk Mitigation Furt
Page 121 and 122: accountability Risk Mitigation Furt
Page 123 and 124: expectation that losses will occur
Page 125 and 126: Refer to page 74 and 76 in the inte
Page 127 and 128: ABIL - capital adequacy ratio % 25
Page 129 and 130: Liquidity and funding The group man
Page 131 and 132: deposits at highly competitive rate
Page 133 and 134: Regulatory risk South Africa’s cu
Page 135 and 136: Regulatory issue Description Risk/I
Page 137 and 138: Regulatory issue Description Risk/I
Page 139 and 140: Dear Sir/Madam In the year 2009 I e
Page 141 and 142: Scorecard information* Target score
Page 143 and 144: GRI SO1 For a detailed report on CS
Page 145 and 146: accountability Overall employee tur
Page 147 and 148: The Banking unit has increased the
Page 149 and 150: accountability Transformation and e
Page 151 and 152: Union membership 2012 47,8% 52,0% 0
Page 153 and 154: Employee turnover % 45 40 35 30 25
Page 155 and 156: Union membership % 70 60 50 40 30 2
Page 157 and 158: Transformation and employment equit
Page 159 and 160: ■ C = Collect; ■ A = Advise;
Page 161 and 162: GRI PR7 GRI PR8 GRI PR9 Customer ex
Page 163 and 164: GRI PR1, PR2 >accountability condit
Page 165: GRI EC8, EC9, S01 >accountability l
Page 169 and 170: Ilembe schools connectivity project
Page 171 and 172: For more information on CSI visit h
Page 173 and 174: accountability and measured against
Page 175 and 176: GRI EN18 Weaknesses and shortfalls
Page 177 and 178: GRI EN2 >accountability Paper savin
Page 179 and 180: GRI EN30 Community engagement >acco
Page 181 and 182: Case studies Cato Ridge Epping The
Page 183 and 184: est practice) gasses are absent and
Page 185 and 186: Findings Based on our review of the
Page 187 and 188: Description Explanation 2.7 Markets
Page 189 and 190: Description Explanation 4.8 Interna
Page 191 and 192: Description Explanation EC4 Signifi
Page 193 and 194: Description Explanation Emissions,
Page 195 and 196: Description Explanation Occupationa
Page 197 and 198: Description Explanation Freedom of
Page 199 and 200: Description Explanation Customer he
Page 201 and 202: Annual financial statements 197-320
Page 203 and 204: 45.1 Operating segments 285 45.2 Se
Page 205 and 206: Dividend cover (times) Dividend cov
Page 207 and 208: Acronyms and abbreviations ABIL Afr
Page 209 and 210: Nine-year summarised group income s
Page 211 and 212: Currency adjusted group income stat
Page 213 and 214: Directors’ responsibility stateme
Page 215 and 216: Audit committee report The audit co
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Domestic Medium Term Note (DMTN) Pr
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Interest of directors of the compan
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■ Granting the general approval t
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Group income statement for the year
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Share based payment reserve Cash fl
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Notes to the group annual financial
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IFRS/IFRIC Title and details Expect
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IFRS/IFRIC Title and details Expect
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3. Critical accounting judgements a
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3.2.2 Impairment of advances >annua
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annual financial statements practic
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Business combinations >annual finan
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annual financial statements payment
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4.10.3 Subsequent measurement >annu
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annual financial statements A finan
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annual financial statements Bank or
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annual financial statements For the
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annual financial statements Ordinar
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4.20 Cost of sales 4.19.3.4 Deliver
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annual financial statements The sha
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annual financial statements the exp
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annual financial statements R milli
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9. Net advances continued 9.1 Credi
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9. Net advances continued 9.1 Credi
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R million Opening balance Recognise
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R million Carrying value at the beg
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R million Balance at the beginning
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2012 2011 Unamortised discount Net
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2012 2011 Unamortised discount Net
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Foreign currency translation Foreig
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Interest capitalised 2012 2011 Unam
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annual financial statements 2012 20
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annual financial statements 2012 20
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annual financial statements 46. Fin
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R million Up to 1 month Greater tha
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annual financial statements Index t
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R million Carrying value at year en
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annual financial statements 49. Int
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annual financial statements 50. Lon
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51. Analysis of financial assets an
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annual financial statements 51. Ana
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annual financial statements 55. Ret
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annual financial statements 58. Res
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Company statement of comprehensive
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Notes to the company annual financi
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Prefsure (Botswana) Limited Insuran
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Contents Shareholder information Di
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Dividend timetable >shareholder inf
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JSE statistics >shareholder informa
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Analysis of ordinary shareholders a
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Contents Annual general meeting Not
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3. Ordinary resolution 3 - Election
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annual general meeting As the revis
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annual general meeting 9.1 immediat
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annual general meeting 11.3.3 repur
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Motivation for ordinary resolution
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annual general meeting message util
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Leonidas (Leon) Kirkinis Chief exec
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higher. Qualifying participants are
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(iv) Directors’ interests in secu
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Application form: Electronic partic
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Form of proxy African Bank Investme
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annual general meeting Summary of s
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Corporate information Board of dire
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