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Letter to stakeholders continued decided to enhance and broaden its skills base and, simultaneously, address gender representivity. ABIL appointed six new non-executive directors and three new executive directors. On behalf of the board, I welcome Angus Herselman, Tami Sokutu and Toni Fourie as executive directors and Bahle Goba, Günter Steffens, Dave Gibbon, Ramani Naidoo, Oshy Tugendhaft and Brian Steele as nonexecutive directors of ABIL and African Bank. They have already contributed significantly to the strategic and operational development of the group. Commitment to black economic empowerment The broad-based Black Economic Empowerment Bill (“BEE Bill”) was passed by parliament recently. This together with the recently published Financial Sector Charter are positive developments for the transformation process in the country. ABIL fully embraces the spirit and intentions of the transformation agenda in South Africa, which is enshrined in the BEE Bill and Financial Sector Charter. The same six pillars contained in the Financial Sector Charter underpin ABIL’s empowerment strategy. Full details of ABIL’s credentials relative to the Financial Sector Charter are contained in the company’s corporate charter, which can be found on the company’s website at www.africanbank.co.za. African Bank Investments Limited 10 a) Human resource development Total black management representation in ABIL is shown below. Women in management (%) 16 14 12 10 8 6 4 2 0 Senior Middle Junior ABIL 2003 Financial Sector Charter by 2008 Total management (%) 50 40 30 20 10 0 Senior Middle Junior ABIL 2003 Financial Sector Charter by 2008 Overall representation of black people in the senior and junior management levels is below the Financial Sector Charter targets for 2008. In order to improve these figures, the following strategies have been adopted: conversion of the black middle management component (31% at present) to senior management by 2008 and a portion of the black junior management component (35% at present) into middle management by 2008. Where deemed necessary, new staff will be recruited from outside the organisation. Representation of black women is in line with the Financial Sector targets and efforts are under way to improve figures even further. Training and development in ABIL is an imperative as it enables the group to provide the level of service required to be an excellent service organisation. In the past financial year, a total amount of R9,8 million was spent on general staff training, HIV and Aids training, fast track development training and a management advancement programme. Out of a total of 1 974 learners 92% were black people. ABIL came first in the training and development category and also received a special merit award for its work on HIV/Aids in the 2003 National Lenders Competition, an annual competition organised by the MFRC and Bankseta. b) Equity ownership and control Equity ownership The Financial Sector Charter has set a target of a minimum of 25% black ownership, measured at holding company level, by 2010 and a minimum of 10% of this target must be satisfied by way of direct ownership: – Direct shareholding ABIL has developed a reputation for innovation, which is underpinned by a culture of entrepreneurship. In line with this culture management believe that sustainable equity ownership is likely to be better achieved through active participation of individuals from historically disadvantaged groups (PDIs) already associated with the group including management and employees. The major challenge in all BEE
Incwadi eya kwabanezabelo iqhutshiwe nezimfuno/izidingo zohlaka oluthile lokuphatha. Ukulinganiswa kokusebenza kukasihlalo, isikhulu esiphethe, abaqondisi abayizikhulu kanye nalabo abangezona izikhulu, ngontanga yabo, ngokwemodeli emiselwe. Isinqumo salokhu kubuyekeza saveza amagebe amaningana ngaphakathi ebhodini futhi sekube nomthelela ohlakeni kanye nokwakheka kwezinhlaka ezahlukehlukene zokuphatha kulonyaka odlule. Ibhodi linqume ukukhulisa nokwandisa isizinda salo samakhono liphinde futhi kanyekanye libhekelele ukumelelwa ngokobulili. I-ABIL iqoke abaqondisi abasha abangezona izikhulu abayisithupha kanye nabaqondisi abayizikhulu abathathu. Egameni lebhodi, ngemukela u-Angus Herselman, Tami Sokutu noToni Fourie njengabaqondisi abayizikhulu kanye noBahle Goba, Günter Steffens, Dave Gibbon, Ramani Naidoo, Oshy Tugendhaft kanye noBrian Steele njengabaqondisi abangezona izikhulu ze- ABIL ne-African Bank. Sebevele banikelele kakhulu entuthukweni ephusile neyokusebenza yaleliqoqo. Ukuzinikela ekuthuthukiseni abamnyama emnothweni Umthethosivivinyo obanzi wokuthuthukisa abamnyama emnothweni (“iBEE Bill”) waphasiswa yiphalamende kamuva nje. Lokhu uma kuhlanganiswa noMqulu woMkhakha wezeziMali (Financial Sector Charter) kuyizinto ezinhle kakhulu ohlelweni loguquko kulelizwe. I-ABIL iwemukela ngokuphelele umongo kanye nezinjongo zodaba loguquko eNingizimu Africa, nokuqhakazisiwe kwiBEE Bill noMqulu woMkhakha wezeziMali. Yizinsika eziyisithupha ezifanayo eziqukethwe eMqulwini woMkhakha wezeziMali eziyizesekelo zecebo lokuthuthukisa le- ABIL. Imininingwane egcwele echaza nge-ABIL mayelana noMqulu woMkhakha wezeziMali kuqukethwe kuMqulu weNkampani, notholakala esizindeni se webhu senkampani esithi www.africanbank.co.za a) Ukuthuthukiswa kwabasebenzi Inani lonke lokumelelwa kwezimenenja ezimnyama kwa-ABIL likhonjiswe ngenzansi. Abesifazane kubaphathi (%) 16 14 12 10 8 6 4 2 0 Abaphakeme Abaphakathi Abangaphansi I-ABIL 2003 UMqulu woMkhakha wezeziMali ngo 2008 Abaphathi bonke (%) 50 40 30 20 10 0 Abaphakeme Abaphakathi Abangaphansi I-ABIL 2003 UMqulu woMkhakha wezeziMali ngo 2008 Ukumelelwa konke kwabantu abamnyama emazingeni okuphatha aphakeme kanye naphansi, kungaphansi kunezimiselo zika-2008 zoMqulu woMkhakha wezeziMali. Ukuze kwenziwe ngcono lezi zibalo, kuzokwenziwa umzamo wokuguqula ingxenye yabaphathi abamnyama abamaphakathi okungu (31% njengamanje) kube ngu-8% kuya ku-13% wabaphathi abaphakeme ngo-2008 bese kuthi isigamu sengxenye yabaphathi abangaphansi abamnyama (engu-35% okwamanje) ifakwe kubaphathi abamaphakathi ngo-2008. Lapho kubonakala kunesidingo khona, kuzoqashwa abasebenzi abasha abavela ngaphandle kwenhlangano. Ukumelelwa kwabesifazane abamnyama kuhambisana nezibekelo zoMkhakha wezeziMali kanti eminye imizamo izokwenziwa ukwenza ngcono kakhulu lezi zibalo. Ukuqeqeshwa nokuthuthukiswa e- ABIL kuyinto ebaluleke kakhulu ngoba kwenza ukuba iqoqo likwazi ukuhlinzeka ngezinga lomsebenzi elidingekayo ukuze ibe yinhlangano yemisebenzi ephambili. Onyakeni zimali owedlule, kwasetshenziswa isamba esibalelwa ku-R9,8 miliyoni ekuqeqeshweni okwejwayelekile kwabasebenzi, ukuqeqeshelwa iHIV ne-Aids, ukuqeqeshwa kokuthuthukiswa okusheshayo kanye nohlelo lokuthuthukisa abaphathi. Esibalweni sonke esingu-1 974 sabafundi, amaphesenti angu-92 kwabe kungabantu abamnyama. I- ABIL yaba ngeyokuqala emkhakheni wokuqeqesha nokuthuthukisa futhi yathola nomklomelo oyisipesheli wokubongwa ngomsebenzi wayo kwiHIV ne-Aids emncintiswaneni ka 2003 wabaBolekisi bakaZwelonke, okungumncintiswano ohlelwe yiMFRC neBankseta. b) Ubunini bezabelo nokuphatha Ubunini bezabelo UMqulu woMkhakha wezeziMali ubekele ubuncane obungamaphesenti angu-25 obunini babamnyama, nokulinganiswa ngamazinga enkampani ephethe, ngo-2010 kanye nobuncane obungamaphesenti ayishumi alesi sibekelo kufanele aneliswe ngobunini ngqo. – Ukuphatha izabelo ngqo I-ABIL seyizenzele igama ngokuqamba, nokumiselwe ngesikompilo lobusomabhizinisi. Ngokuhambisana naleli sikompilo, abaphathi bakholwa ngukuthi ubunikazi zabelo obuqhubekayo bungatholakala kangcono ngokubamba iqhaza ngqo kwabantu abaqhamuka emaqenjini abantu ababencishwe amathuba phambilini (PDIs) nasebevele beyingxenye yeqoqo, kuhlanganisa abaphathi nabasebenzi. Inselele enkulu kukho konke ukuhwebelana okuhlanganisa iBEE kuba ngukuthola isisombululo 11 African Bank Investments Limited
Page 1 and 2: African Bank Investments Limited AN
Page 3 and 4: 2,5 2,0 1,5 1,0 0,5 0 JSE statistic
Page 5 and 6: Five-year history Four-year compoun
Page 7 and 8: Features 35 30 25 20 15 10 5 0 Head
Page 9 and 10: Focus and strategy The focus of the
Page 11 and 12: Profile African Bank Investments Li
Page 13 and 14: 1994 Formation of investment trust
Page 15 and 16: Performance against key objectives
Page 17 and 18: Short to medium-term objectives OBJ
Page 19 and 20: African Bank Investments Limited We
Page 21 and 22: Letter to stakeholders ABIL believe
Page 23 and 24: Incwadi eya kwabanezabelo iqhutshiw
Page 27: Incwadi eya kwabanezabelo iqhutshiw
Page 35 and 36: Currency adjusted group balance she
Page 37 and 38: Management discussion Overview Key
Page 39 and 40: 12 months ended 12 months ended 30
Page 41 and 42: Capital adequacy model Non-performi
Page 43 and 44: 8 000 7 000 6 000 5 000 4 000 3 000
Page 45 and 46: Sales analysis - number and average
Page 47 and 48: excluding the Saambou PLB acquisiti
Page 49 and 50: The improved credit conditions are
Page 51 and 52: ook and the written-off book. To th
Page 53 and 54: Statement of average balances Weigh
Page 55 and 56: Divisional reports Operationally, A
Page 57 and 58: collection strike rates, which has
Page 59 and 60: ABIL also expanded its portfolio to
Page 61 and 62: Collections business unit. Its most
Page 63 and 64: Issue arising Corrective action req
Page 65 and 66: Skills and experience of the board
Page 67 and 68: Corporate governance continued regu
Page 69 and 70: from the committee responsible for
Page 71 and 72: that the risk policies and strategi
Page 73: Table 1: Remuneration and fees Serv
Page 76 and 77: Risk review ABIL views risk as an i
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Risk review continued Undesirable r
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Top ten risks Mitigating factors Ri
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Credit risk African Bank Retail Cre
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on a regular basis to ensure proper
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Social commitment Given the nature
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Embarking on a journey The process
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The progress The corporate social c
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Shareholders’ information Number
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agreements, to ensure that the mate
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The interest rate charged is determ
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Continued effort and focus will go
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services of the best employees. The
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The African Bank Foundation accepts
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Index to global reporting initiativ
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Directors’ responsibility The dir
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Directors’ report 30 September 20
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INTEREST OF THE DIRECTORS IN THE SH
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n4 The strike prices of the share o
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Income statement for the year ended
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Cash flow statement for the year en
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Equity accounted income, which is i
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1.9 Revenue recognition Interest in
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Group Company 2003 2002 2003 2002 R
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Group Company 2003 2002 2003 2002 R
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Group Company 2003 2002 2003 2002 R
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111 Group 2003 2002 R000 R000 12. L
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Group Company 2003 2002 2003 2002 R
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Group Company 2003 2002 2003 2002 R
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117 Group 2003 2002 R000 R000 25. R
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Group Company 2003 2002 2003 2002 R
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One to Four to Beyond Non-interest
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One to Four to Beyond Up to one thr
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125 Group 2003 2002 R000 R000 37. O
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Appendix B Investments in associate
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Appendix D Segmental advances and p
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Appendix F Group structure and prof
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3.4.4 ensure that a comprehensive s
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7.4.3 All directors are required to
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6.3 any general payment shall be ma
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13.6 Any repurchases shall comply w
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DIRECTORS’ CURRICULUM VITAES Anto
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6. Isinqumo esejwayelekile esinguno
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12.9.1 kuyokwenziwa ngokulandela uM
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16. Ukuvota nezithunywa Bonke abani
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Form of proxy AFRICAN BANK INVESTME
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Ifomu yokuqoka isithunywa esizokume
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Members of the ABIL board ASHLEY SE
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RAMANI NAIDOO (41) BA LLB Non-execu
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Corporate information COMPANY REGIS
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GRAPHICOR 30006
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