"Surveys have shown that while the first priority of stakeholders of a company is the quality of the company’s products or services, the second priority is the trust and confidence that the stakeholders have in the company."

– King III

building

Defined as the sum of stakeholder perceptions, an organisation’s reputation is at the heart of business success or failure. The scandals that rocked the business world at the start of the  21st century emphasised the importance of building, maintaining and defending corporate reputation. Integral to that reputation is successful stakeholder relations.

Some of our key stakeholders

stakeholders

handshakeWe rely on partnerships to fulfil our industrial development mandate. We believe that effective stakeholder engagement enables us to create and embed partnerships that augment the pursuit and achievement of our mandate. While stakeholder engagements occur daily throughout the organisation, they must support the fulfilment of our mandate. 

Managing stakeholder relations is therefore integral to our corporate strategy, not as an intervention, but as a planned process guided by robust business principles. We scan, assess and interpret our business landscape continuously to identify stakeholder interests and concerns and match issues to their spheres of influence.

" We believe that effectively engaging our stakeholders leads to mutually beneficial relationships and the ability to meet and exceed expectations."

Our stakeholders fall into three categories: our people, our clients and other stakeholders.

We developed a stakeholder engagement strategy in 2014 and plan and communicated it throughout the corporation to coordinate and ensure consistency in stakeholder engagements.

The strategy and plan are integrated into Strategic Business Units (SBUs) and departmental business plans. The high-level implementation plan will be updated by the relevant SBUs and departments. The managers responsible for engagement will submit a progress report every 6 months, while the department will generate the overall corporate report.

Our stakeholder interactions during the past year included:

  • Engagements by IDC executives, SBUs, departments and regions with their various stakeholders
  • External marketing and communication initiatives using television, print, radio and online platforms
  • Interaction with internal stakeholders and staff nationally, using various IDC communication platforms

Our people

Human capital  represents all our resources – the knowledge, skills, abilities, experience, intelligence, training, judgement and wisdom of our staff, individually and collectively – as the total capacity and wealth of the IDC that we use to accomplish our goals and carry out our mandate.

Driving our mandate by engaging and supporting our people

As a leader in industrial development finance, we need the right people, with the right skills, values and behaviours to help us deliver on our mandate of serving industries, business partners, stakeholders and the South African economy.

We enable our people to achieve their full potential through professional and personal growth in an environment where we encourage leadership and living our organisational values to create a quality work life. Our performance-driven culture provides people with the necessary tools, processes and resources to serve our clients, engage our stakeholders and work productively.

Importantly, we believe that recognising and rewarding our people for hard work and commitment is important and sets the stage for performance excellence.

Our approach to managing, growing and empowering human capital

human capital

Our people – diverse, talented and empowered

  • Encouraging diversity and representivity for business success Creating an employee profile that encourages the sharing of knowledge, skills and expertise
  • Creating a national footprint through regional representivity
  • Appreciating generational diversity (age profile)
  • Driving transformation (planned and actual employment equity commitments) and gender parity 

Attracting and retaining top talent

  • Understanding the mobility and movement of employees
  • Appreciating the talent we attract and understanding the reasons for the talent we do not retain (turnover)
  • Facilitating and implementing an appropriate recognition and reward philosophy
  • Creating a work environment that is conducive to productivity and an enjoyable and rewarding work life

Driving a change-enabled culture conducive to success

  • Embedding a culture that supports our business Leading and encouraging employee engagement
  • Driving key behaviours that define our business
  • Driving performance through our people
  • Taking firm and decisive action to ensure appropriate employee conduct

Investing in, recognising and rewarding our people

  • Providing needs based learning and development
  • Providing a talented pipeline for business continuity
  • Being mindful of the health and wellness of our staff
  • Investing in our youth as the future of our country

The talented and diverse people in our organisation

Our staff complement remained fairly static compared to the previous financial year, with a slight reduction of 0.4% in the number of employees. The complement of 825 employees consists of 801 full-time, permanent employees and 24 employees on three-year, fixed-term contracts, of whom 12 are employed at the IDC Crèche and 12 are trainee accountants on a learnership. During the review period, the services of four temporary contractors were used.

Staff complement: 2013 to 2015

staff complement

Staff profile by gender: 2015LA

staff profile by gender

Staff profile by age: 2015LA

staff profile by age

 

We firmly believe that a diverse and generational age mix within the organisation stimulates new and divergent thinking and enables us to capitalise on the tacit and explicit knowledge, skills and experience amongst our employees. 

Staff profile by equity and gender: 2013 to 2015

Staff profile by equity and gender: 2013 to 2015

Aligned with the nature of our business, 76% (2014: 75%) of our employees are professionally qualified specialists who fulfil roles at executive, management and professional levels. The employee representivity by bands is reflected in the table below.

Employee composition by band

Employee composition by band

A national footprint

Our national footprint ensures that we respond to the specific business needs and opportunities in all regions. As at the end of March 2015 we employed 56 staff in regional offices compared to 51 in the previous year. The 9.8% increase was due mainly to extending our presence to outlying areas in a number of provinces. The graph below shows our employee numbers in the different provinces other than Gauteng.

Staff per region excluding head office employees

Staff per region excluding head office employees

Driving transformation in our business

Our staff composition is aligned with the IDC’s employment equity plan to fairly represent South Africans and people from other countries. Foreign nationals represent 4% (2014: 4%) laof our staff, of whom 3% (2014:0.1%) are in senior manager positions. The IDC ensures that it hires the requisite skills and capabilities from designated groups in line with the demographic representation of the South African population.

Employees from ‘designated groups’ fill 60% of our executive and senior management position, which is in line with South Africa’s B-BBEE aspirations. The current foreign national headcount is in line with our equity plan for the year.

We continued to focus on implementing employment equity and inculcating a culture of diversity and inclusivity. The staff composition in relation to our employment equity targets for race, gender and occupation level as at the end of March 2015 is reflected in the table below.

Employment equity targets for 2015

Employment equity targets for 2015

Our employees are well represented in the skilled technical and semi-skilled occupational categories, while representation at the professionally qualified and senior management levels needs to improve to align it with the equity plan. The skilled technical level acts as a “feeder” into the senior management level. The representation of African females improved by 3.3% compared to the previous reporting period, while we achieved a 27% increase in employing people with disabilities since 2012.

Going forward, we will continue to improve representivity at senior management and management levels and for people with disabilities. Accelerated and focused development will continue to be a priority to create a talent pool with which to achieve our business strategy. We are developing an aligned 2016-2018 employment equity plan to our revised strategic operational business model.

Attracting and retaining talent to deliver our mandate LA

We strive to be recognised as an employer of choice that creates value in the work lives of current and future employees. While it is encouraging that skilled and talented people want to join the IDC family, attracting and retaining the best people from sectors. and industries with more flexible remuneration practices, specifically senior staff with critical and scarce skills, remains a challenge. Over the past year we recruited 89 new employees (2014: 74 and 2013: 92).

The changes to our permanent employee profile during the past three financial years are reflected in the table below.

Talent attraction and retention rates (%): 2013 to 2015 LA

Talent attraction and retention rates (%): 2013 to 2015

As was evidenced by the 3.6% increase in overall staff turnover and 4.7% in the specialist/expertise management and executive roles during the reporting period, our challenge is to manage and retain talented employees.  While turnover levels compare favourably with industry norms (Financial services industry: 19.3%), losing skilled talent, particularly at the senior level, could impact significantly on our ability to serve our stakeholders. Staff mobility is primarily influenced by career growth opportunities, financial considerations and career progression limitations, which influence the loss of talent in our business.

Diversity, fresh thinking and a depth of expertise in our business requires a positive, cross-generational balance of staff. In this regard, a significant number of new employees below the age of 30 joined our ranks, which complements our ability to respond with agility to complex and diverse stakeholder needs and creates a new platform for employees to share knowledge, skills and expertise.

We are committed to developing a staff profile that is aligned with the demographic profile of the country and the stakeholders, communities and partners we interact with every day. Our focus, therefore, is on attracting talent from designated groups to drive representivity and inclusivity in our business.

Staff movement for the period: 2013 to 2015LA

Staff movement for the period: 2013 to 2015

Recognising and rewarding our people

Since our employees are integral to achieving our corporate objectives, we strive to keep them engaged, motivated and appreciated, and endeavour to attract and retain high-calibre, high-performing individuals who subscribe to the values and culture of the Corporation.

Our remuneration strategy is aligned with our business strategy and we remunerate and reward our employees fairly, equitably and consistently on individual performance. We conduct remuneration benchmarks to monitor market trends and evaluate each position within the IDC relative to these trends as well as societal inequalities, internal equity, affordability and competitiveness.

Over and above the normal statutory benefits such as leave, staff benefits provided include provident fund, medical aid, insured benefits (death and disability), child care facility, gym, formal study support (bursaries), performance incentive schemes, canteen facilities and vehicle and household insurance through IDC insurers. Fixed-term contract employees are afforded the same benefits with the exception of participation in the IDC incentive schemes. All other temporary employees are provided only with all statutory benefits as per the Basic Conditions of Employment Act.

Our tailored recognition programme (e-Wards) shows our appreciation for staff who go the extra mile to serve our clients, both internal and external. This platform has grown approximately 400% year on year and remains a positive way for staff to recognise their colleagues.

In the forthcoming financial year, we will further enhance and embed our employee value proposition and research, benchmark and implement a business needs-based retention strategy to enhance our retention and recognition platforms, and engage with our staff. We will also participate in the 2015 Best Employer survey to identify areas for improvement that will help us maintain and drive our “employer of choice” status. This will also enable the IDC to measure the effectiveness of its human resource practices against best practice.

Driving a change-enabled culture conducive to success

A work environment and culture that drives performance through our people is integral to delivering our mandate. To implement our new strategy and operating model we need to explicitly define, embed and manage a culture with a work ethic that supports our business operations. Since our organisational culture currently is incongruent with changing business needs and realities, our employees are participating in a culture values assessment to define the desired culture. The outcome will identify the opportunities and hurdles in achieving a culture that is robust, flexible and change-enabled to respond effectively to our stakeholders.

Our focus during the review period was on supporting line managers and staff to understand and internalise the revised IDC strategy and operating model. In the year ahead, we will support line managers, staff and appointed dedicated change advocates to support our change efforts so as to assist us to execute our strategy.

Driving key behaviours 

We have incorporated key behaviours in all employee performance agreements to help embed a customer-centric culture. The emphasis is on accountable, innovative and solutions-focused behaviour to support our clients and stakeholders.

Driving performance through our people

Performance management and development are key enablers in establishing and reinforcing employee behaviours and outputs that will help achieve our business goals and objectives. This requires both formal and informal feedback as part of a continuous performance management process.

A breakdown of employees who have concluded the performance and development review process for 2015 is reflected in the tables below.

Female employees who completed performance and development reviews: 2015LA

female employees

Male employees who completed performance and development reviews: 2015LA

male employees

Ensuring appropriate employee conduct

Managing employee conduct in a dynamic and professional environment as a responsible employer requires firm and decisive action. The significant increase in disciplinary matters in the year under review is unfortunate and disappointing. In this regard, kindly refer to page 75 for details of the misuse of loan schemes by employees. As a result, we firmly addressed the transgressions, and where required, improved the policies, systems and procedures.

Managing employee conductLA

discipline

During the period under review LA, no incidents of discrimination were recorded. We resolved a formal grievance about employee practices and no grievances remained unresolved from the previous financial year. The IDC is a non-unionised environment and therefore is not required to subscribe to any collective recognition agreements in managing and governing the employment relationship.

Leading and encouraging employee engagement

Employee engagement is the extent to which employees work effectively, commit to the organisation and remain at the Corporation as a result of that commitment. In 2011 and 2013, we launched a continuous improvement strategy that independently measures the levels of employee engagement. During the year under review and as part of the reprioritisation of our business strategy, all employees had the opportunity to participate in a comprehensive organisational diagnostic survey to identify areas that require attention to support the new operating model. As a result, a number of business priority cross-functional work streams were established to effect improvement.

We will conduct another employee engagement survey at an appropriate time in our business to measure, monitor and track employee engagement and the impact of the work stream outcomes on such engagement. This initiative will further support measuring the effectiveness of our Human Resource practices.

Nurturing employee well-being

Providing employees, contractors and visitors to the IDC with a safe and risk-free business environment that complies with the Occupational Health and Safety Act, No 85 of 1993 (as amended), is a major focus area at the IDC. More than 60 of our employees serve on different Health and Safety committees to strengthen and enforce compliance, conduct regular site inspections and assist in cases of emergency. laThe Health and Safety committees meet quarterly and minutes of the proceedings are recorded. We reviewed and aligned our health and safety systems and procedures with the requirements of the IDC Occupational Health and Safety Policy to address potential risks and hazards. No work-related fatalities or lost-time incidents and occupational diseases were recorded during the past three years.

Employees also have access to wellness counselling to deal with life’s challenges. As a responsible employer, our employee wellness initiatives aim to educate employees about the importance of identifying, preventing, managing and resolving wellness matters.

ICAS Southern Africa and Discovery Health are our partners in giving effect to our Employee Wellness Programme (EWP). As such, employees and their immediate family members have access to voluntary counselling as may be required. Our employees participate in our annual Wellness Day where they interact with healthcare professionals for a detailed lifestyle audit to enhance their personal awareness and understanding of health-related matters.

We also provide voluntary testing for HIV/AIDS for all employees and annual medical screenings to encourage those over the age of 40 to adopt a healthy and productive lifestyle and proactively manage their health risks. Participation by eligible employees in this initiative has grown by 3% year on year (2014: 65%).

Managing finances and planning for retirementLA

IDC employees have access to “retire fit” training to plan effectively for retirement. Our wellness support partner, ICAS, counsels and advises those preparing for retirement, while an appointed financial adviser advises about financial management for retirement.

" Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family."

- Kofi Annan

Investing in our talent to retain excellence

Formal training is the most utilised platform for continued learning among our employees. We prioritise and deliver needs-based training through discussions between managers and employees to plan and record the employee’s Personal Development Plan. During the year under review, fewer employees participated in training programmes and subsequently the training investment cost per employee reduced. This is due mainly to a focus on understanding our new strategy and identifying learning and development needs to support the new IDC operating model in the forthcoming financial year.

Innovating our training solutions

In our business environment, we implement innovative solutions to encourage continuous learning through various platforms that maximise the availability of staff to our stakeholders. During the past year, we continued to drive participation in iLens, an e-Learning platform aligned with international best practice.

The table below summarises our investment in staff training during the past three financial years.

Staff development undertaken: 2013 to 2015

staff development

*Staff costs includes normal salaries, provident fund contributions, training and other staff and salary related costs.

Our employees can access a significant number of other development platforms to support continuous growth and development. These include tertiary bursary support, external board participation, mentoring and formal coaching, secondment, job rotation, participation in strategic project workgroups and external learning assignments.

We recognise and appreciate the critical contributions from all our employees in delivering our mandate. As such, employees benefit from needs-based training to equip them for their existing and future roles. The tables below reflect our skills development  investment in female and male employees segmented by band.

Training investment for female employees:

 training women

Training investment for male employees: 

training men

The graphs below reflect the equity breakdown of employees who participated in some form of training. Most of the employees trained (81%) function at our specialist/management and professional levels, while the rest (19%) are employed in administrative and support positions.

Equity representation of employees who undertook training (April 2014 to March 2015)

equity rep

Developing leaders to enhance engagement

All our employees contribute to driving transformation. Our leadership development programmes support and nurture the development of leaders and managers and their ability to share knowledge, skills and expertise with others in the organisation.

During the review period, our employees attended various public-based leadership programmes at the GIBS, Bain, Harvard and WITS Business Schools and/or benefited from needs-based executive/leadership coaching.

Continuous development of our core business activities (operational deal-making)

The 12–24 month Dealmakers Programme trains and develops operational staff in deal-making skills, which includes evaluating business proposals during due diligence investigations. The programme delivers a constant supply of quality-trained employees for our operational business units, which supports organisational growth.

Progress with the Dealmakers Programme: 2013 to 2015

dealmakers

A critical focus area in line with the IDC’s new operating model is enhancing our skills and capabilities to develop and manage projects within industry sectors. Going forward, we will continue to share and transfer this knowledge through knowledge management practices as well as knowledge-based communities of practice, developing and sharing lessons learnt and harvesting knowledge from employees who leave the organisation or retire.

operating model

In line with IDC’s new operating model, a critical focus area is enhancing the skill and capabilities of managing and developing projects within industry sectors. We will continue to share and transfer this knowledge through knowledge management practices by driving knowledge-based communities of practice, developing and sharing lessons learnt and harvesting knowledge from employees who leave the organisation or retire.

Our customers

Customer centricity

During the reporting period, our initiatives to embed a service culture within the IDC formed part of Project Evolve, a call for us to take the lead in industrial development.

Initiatives included the development of a customer-focused Service Charter that sets the standards for service excellence to ensure that clients experience the same level of service at all our touch-points. The Charter was informed by the findings of customer satisfaction surveys conducted among potential and existing clients.

We also benchmarked service standards among companies in the Financial Services and Fast Moving Consumer Goods (FMCG) sectors considered as pioneers in service excellence to learn from industry best practice.

In the year ahead, we will communicate internally to ensure that employees are aware of the Service Charter, the benefits of improved customer service and the need to respond timeously to client requests. Early indications are that the focus on customer-centricity has already led to an improved service offering and enhanced customer interface.

What our customers say about us

We regularly conduct customer satisfaction surveys to measure service performance, identify service issues and test customer perceptions, needs and expectations.

Short-term customer satisfaction survey

The results from the 794 respondents who participated in the short-term customer satisfaction surveys during the period under review are reflected in the survey findings below.

Regional breakdown

regional

Customer satisfaction with service delivery

customer satisfaction

 Of significance is that the majority of respondents (73%) are satisfied with our service offering.

Customer willingness to recommend the IDC

recommend

Opportunities for improvement in IDC service delivery

opportunities

More than 80% of respondents are willing to recommend the IDC to business partners and associates. Respondents whose applications were declined indicated that they would recommend us as they were advised timeously of the reasons for our decision. This indicates that quick feedback remains a key driver of satisfaction.

We have taken note of the opportunities for improvement, which include improving turnaround times and communication, creating a simplified funding application process and ensuring that we have knowledgeable staff members.

Annual customer satisfaction study

205

Regional stakeholder survey

500

The aim of these surveys is to determine the customer satisfaction as a measure of the IDC’s ability to retain customers.

key findings

Areas of strengths included staff professionalism, meeting clients’ needs, product range, ethical and credible dealings, relevant solutions and accurate information, as well as product offerings.

Areas for improvement included a simplified application process, easy-to-understand legal terms and conditions, suitable product pricing and timeous responses to queries, as well as providing clients with updates/feedback and treating them as business partners.

key findings

Areas of strengths included professionalism, advice, effectiveness, staff expertise, SME support and alignment with government initiatives. Most respondents indicated a strong likelihood of recommending the IDC to others.

Areas of concern included slow turnaround times, insufficient visibility in the region, a lack of knowledge about market trends, inflexibility and an unfriendly approval process, including the information requirements.

 

   

 

mouse yellowPlease refer to Section 5 online for CRM’s future plans.

Government and public sector entities

The IDC partners with government and public sector entities to give effect to its development mandate, assist the respective entities in their areas of operation and contribute to achieving economic and social development objectives. The Corporation’s assistance to and collaboration with the public sector and government are outlined in the table below.

IDC partnerships with government and public sector entities

Area of assistance / collaborationTypes of assistance provided and/or forms of collaborationPublic sector entitiesObjectives

Policy and/ or strategy formulation

  • Assist national government departments to formulate policies and/or strategies in several areas, such as industrial policy and action plans
  • Participate in steering committees and task teams through various means, such as feasibility studies, research support and data provision and analysis
 

EDD, the dti, DAFF, DoE, DoT, DWCPD, MinMec, provincial governments

 

Improve the enabling environment for business development

  • Align the IDC with national policies and strategies
  • Enhance the developmental impact of public sector interventions, including the IDC
  • Improve policy coordination, monitoring and evaluation
  • Increase investment activity locally and in the rest of Africa
 

National Initiatives

 
  • Identify industrial capacity development opportunities associated with national initiatives (such as localisation opportunities across the various SIPs) and the capital expenditure programmes of state-owned companies (such as Eskom and Transnet)
  • Coordinate infrastructural and industrial development aspects of specific national initiatives (SIP-5 and SIP-8, among others)
  • Co-fund specific national programmes and enhance their developmental impact, including localisation (such as REIPPP)
  • Evaluate and prioritise community stakeholder-owned projects
  • Monitor the impact of specific public sector-backed programmes and initiatives (such as CTCP)
 

PICC, EDD, DoE, the dti, DWCPD, NT, Eskom, Transnet

 

Improve the enabling environment for business development

  • Improve business access to finance at favourable rates
  • Improve coordination of service offerings among funding agencies
  • Enhance SA’s export performance in global markets and strengthen its position in international negotiations
  • Build capacity and develop skills in the public sector
  • Enhance public sector delivery and efficiency
 

Regional development

 
  • Assist with project development initiatives and related development funding
  • Identify bottlenecks in implementing projects for government to address
 

National, provincial and local governments

 

Fund management

 
  • Manage specific support/incentive schemes (such as CTCP, APCF and others)
  • Administer funds aimed at conducting industrial policy research, enhance technical expertise in policy formulation (for instance IPSF) and support sector- or issue-specific research initiatives (such as the research grant component of APCF)
 EDD, the dti
 

Development funding collaboration

 
  • Create funding partnerships to enhance the development benefits of interventions of state-owned companies, aligned with their respective mandates
  • Provide credit lines to other development finance institutions
PIC, UIF, DFIs
 

Development funding monitoring

 
  • Provide information and data about the funding activities of the IDC and its subsidiary, sefa
  • Report on the IDC’s operational performance
 

EEDD, the dti, parliamentary committees, provincial governments

 

Research and analysis support

 
  • Provide economic and industry-specific information, data, research and analysis
  • Analyse SA’s trade performance for trade negotiation purposes
Presidency, EDD, the dti
 

Capacity building

 
  • Build and provide capacity to local governments and development agencies to enhance local economic development
  • Operationally manage and participate in programmes to build capacity among policymakers and other beneficiaries locally and elsewhere in Africa (such as APORDE, PAC-BP)
  • Provide technical assistance in various areas to other development finance institutions
  • Deliver regular presentations at public sector forums on economic trends and topical issues (such as DIRCO)
 

Local government, the dti, DIRCO, DFIs

 

Corporate Social Investment

The IDC’s Corporate Social Investment (CSI) programme supports the Corporation’s core mandate of developing, broadening and deepening the country’s industrial capacity. Our approach is developmental, investing in long-term projects instead of once-off philanthropic donations in order to be aligned to the country’s developmental agenda of poverty alleviation, employment creation and transformation. We proactively identify initiatives in support of the most marginalised members of society. Collaboration and partnerships are key principles in our interventions as they enable us to leverage resources and maximise impact.

The programme has a focused approach offering support mainly in education and skills development, healthcare and sustainable livelihoods. Other initiatives are considered on a small scale under special and strategic projects. Employee Volunteering and Giving is one of the key strategies through which we implement our CSI initiatives.

Highlights

education and skills

Through our Whole School Development Programme we invested R21 million in the 20 secondary schools we adopted in 2013. These schools, of which the majority are in rural areas, benefitted from the following:

  • Improved infrastructure – ten upgraded science laboratories; the construction of seven new laboratories; two new ablution facilities; renovation of eleven schools and access to clean water supply have been provided to four schools; twenty six new classrooms; and a feeding scheme kitchen.

 

  • Curriculum support – capacity development workshops for 104 educators to improve the teaching of maths, science and accounting subjects.

 

  • Career information sessions – these were held in partnership with the Department of Social Development, Shanduka, South African Institute of Chartered Accountants Thuthuka Project and the Department of Health in KwaZulu-Natal. A total of 3 219 learners were reached empowering them with much-needed information to access post-matric opportunities. Twenty one learners were awarded the IDC bursary and are studying at various universities in South Africa. 

 

  • Keeping the girl child in school – this project which was launched in 2013 by IDC women, is aimed at ensuring that poor girls do not miss school because they cannot afford sanitary towels. The towels were distributed to over 11 000 girls.

CSI for higher education included:

  • Technical Vocational Education and Training (TVET) Colleges Support – we provided capacity to the Northern Cape TVET College to deliver “green skills-related training” preparing students for employment within the green sector. The programme has allowed for curriculum development by adding complimentary solar installation material to their plumbing course. Two lecturers were identified to offer the training based on their experience. In addition, 10 students were identified for training and work integrated learning with a renewable energy company.

 

  • University Support Programme – we continued to support the Extended Curriculum Programme at the University of the Western Cape (UWC) which targets under-prepared students from poor families who attended disadvantaged schools, and helps them reach a standard that will allow them to complete their degrees. Our support contributes towards strengthening UWC’s position as one of the leading higher education institutions aiming to increase the number of black science graduates in South Africa.

 

special projects

IDC Gallery – four quarterly exhibitions took place, giving exposure to 24 artists consisting of mainly young people.  The gallery creates a platform for emerging young artists from historically disadvantaged backgrounds to showcase their work.

volunteering

503 employees participated in five initiatives and contributed a total amount of R3.4 million.  This allowed the IDC to partner with 29 organisations which benefited their communities nationally.

40 million

Budget performance

A total of R40 million was spent on CSI in 2015, representing an increase of 10% from the previous year. This amount included commitments of R7.7 million carried over from the previous year (2013–14). Most of the expenditure went towards education and skills development, which was our main focus last year. The figure below illustrates the percentage expenditure by focus area.

Within the education and skills development focus area, the Adopt-a-School project received a significant share of the budget (77%) followed by university initiatives (14%) and TVET Colleges (5%).

graph