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Social commitment continued of its discretionary spending is now with black-owned or managed suppliers. Its money school continues to educate and empower clients and consumers, resulting in a prestigious award from the industry regulator. The African Bank Foundation, now in its second year, continues to make a difference to many South Africans through its long-term partnerships in the fields of art, tertiary education and entrepreneurship. ABIL’s approach to stakeholder engagement is broad and multi-faceted. It is a proactive process which incorporates the feedback into its This social report has not been independently reviewed. development strategy. Its sustainability report encompasses much of the information derived from stakeholder engagement, a process it will continue to improve. Its commitment to communicate openly with stakeholders is driven from the most senior levels. Clear accountability for taking sustainability forward, plus time lines, will be finalised before the end of FY2003. ABIL believes this report represents a balanced and reasonable presentation of the organisation’s economic, environmental and social performance. Value added statement African Bank Investments Limited 70 As noted, the group has begun the process of formalising and embedding sustainability practices into its business. This is a challenging task, but one to which it is fully committed and to which people at every level are responding. Encouraging progress is already being made. Together, we can make a difference. Leon Kirkinis Chief Executive Officer 2003 2002 R million Change (%) R million VALUE ADDED Total revenue 2 866 11,7 2 565 Charge for bad and doubtful advances (445) (19,5) (553) Risk adjusted revenue 2 421 20,3 2 012 Other interest income 143 72.3 83 Interest expense (464) 19,3 (389) Share of associate’s income 2 (71,4) 7 2 102 22,7 1 713 VALUE ALLOCATED Employees 401 22,6 327 Agents for sales commission 122 3,4 118 Suppliers of various services 439 0,9 435 Provide shareholders with cash dividends 206 56,1 132 Government (direct taxes and VAT) 389 48,5 262 Retention for growth 545 24,1 439 Depreciation 74 27,6 58 Deferred taxation 10 100,0 5 Outside shareholder interest 7 (22,2) 9 Attributable income (net of dividends paid) 454 23,7 367 2 102 22,7 1 713
Embarking on a journey The process Sustainability is about ensuring business success in the short and long term while contributing to society’s present social, environmental and economic needs without compromising the ability of future generations to meet their needs. This approach requires ethical, environmental, social and economic considerations to be integrated into all aspects of the business, reflecting the principles of sustainable development. For ABIL, sustainability is a journey it began some time ago as reflected in the projects and activities discussed later. As with all first-stage practices, these were undertaken in a way that guaranteed immediate response to an issue in one area of its business. Many of these responses have grown into highly successful endeavours with Secure commitment • Vision for change • High level workshop • CEO/board support Report and review • Apply recognised sustainability criteria and indicators • Data analysis • Assurance • Monitor and review progress against benchmarks • Communicate significant impact on the group and its stakeholders. The group has now entered the second phase which is to formalise and integrate these activities to obtain maximum benefits for all involved. To sustain growth in the 21st century, ABIL recognises that relying on economic strengths like competitive advantage and product innovation is not enough. Social and environmental impacts, measured by the inter-relation between business and communities as well as business and the environment, have become important criteria in determining a company’s success. ABIL has recently begun a comprehensive review of its sustainability strategy. Sustainability will be further integrated into the group’s business plan Analyse the business • Corporate citizenship management rating • Sustainability SWOT analysis • Assessing core sustainability business competencies Build into internal management systems • Links to existing management structures • Develop sustainability management system • Data capture • Key performance indicators/targets over the next year. The integration will include the development of appropriate control and monitoring systems that will feed into the annual sustainability reporting process. ABIL has adopted the following process to develop an integrated sustainability management framework that will strengthen stakeholder engagement, assess and manage risk – including social and environmental risk – and enhance synergies and partnerships to create opportunities. Although some steps are already in place, ABIL will build on these in the coming year to produce an organisation-wide strategy. Although ABIL believes this is simply sound business practice applied to sustainability, it is important that this is developed in an inclusive way. Develop a strategy • Developing a strategic framework document • Focus on both risk and opportunities • Financial services link to sustainability Implement the strategy • Develop action plan • Clear objectives • Change management process • Visible early gains • Communication plan • Training • Knowledge management 71 African Bank Investments Limited
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African Bank Investments Limited AN
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2,5 2,0 1,5 1,0 0,5 0 JSE statistic
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Five-year history Four-year compoun
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Features 35 30 25 20 15 10 5 0 Head
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Focus and strategy The focus of the
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Profile African Bank Investments Li
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1994 Formation of investment trust
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Performance against key objectives
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Short to medium-term objectives OBJ
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African Bank Investments Limited We
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Letter to stakeholders ABIL believe
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Incwadi eya kwabanezabelo iqhutshiw
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Currency adjusted group balance she
Page 37 and 38: Management discussion Overview Key
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Page 45 and 46: Sales analysis - number and average
Page 47 and 48: excluding the Saambou PLB acquisiti
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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
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Page 76 and 77: Risk review ABIL views risk as an i
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Page 81 and 82: Top ten risks Mitigating factors Ri
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Page 85 and 86: on a regular basis to ensure proper
Page 87: Social commitment Given the nature
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Page 93 and 94: Shareholders’ information Number
Page 95 and 96: agreements, to ensure that the mate
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Page 103 and 104: The African Bank Foundation accepts
Page 105 and 106: Index to global reporting initiativ
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Page 109 and 110: Directors’ report 30 September 20
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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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