Corporate social investment (CSI) is an integral part of our value creation process and is a key instrument used to help our business, the financial and insurance industries and our country, to grow, develop and transform. Our CSI pillars include:
Education sits at the root of many of South Africa’s, and indeed the world’s, socio-economic issues. It is therefore at the heart of our CSI initiatives and we look to:
Our skills development entails a two-year graduate programme for students who form part of our bursary scheme. We also focus on those who did not obtain university acceptance by offering a work readiness programme.
The wellbeing of our nation is a core deliverable for Sasria SOC Ltd and we encourage our employees to participate in initiatives that we fund. Growing businesses and economic empowerment drives our sustainability as we support SME’s through education as well as channelling business their way.
We are extremely passionate about, and proud of, our CSI. This is not a soft, nice-to-have deliverable for Sasria SOC Ltd. We ensure that our resource allocation is able to manage and coordinate our efforts and see them through to fruition.
Actuaries are the bedrock of the insurance industry and are in scarce supply in South Africa. Sasria SOC Ltd has a partnership with the South African Actuaries Development Programme (SAADP), an independent, non-profit company that provides support to students wanting to study towards an Actuarial Science Degree.
The field of Actuarial Science is relatively unknown and the main aim of the SAADP is to expose mathematical and analytically talented black students to the potential of careers in this industry which can be found across the insurance sector, government departments, academia, private consulting firms, accounting firms, banking institutions, medical aid schemes, risk management firms and investment companies.
To date, we have invested over R50 million in the development of actuaries. Since its inception in 2003, this programme has produced 180 graduates, 18 of whom have qualified as actuaries.
Sasria SOC Ltd awards full bursaries to external selected learners to contribute towards broadening the national skills pool and developing a competent workforce. We assist top performing and needy students who are pursuing the following courses: Undergraduate university (academic) degree in Commerce (Economics, Business Economics, Accounting, Investments and Finance), BSc Information Technology, BIT-Bachelors of Information Technology, Business Science and Mathematics. Applicants must be in possession of a National Senior Certificate with a minimum B average and have already been accepted at accredited institutions in South Africa. Every application is considered on merit once a completed application form and all required documentation has been submitted to Sasria SOC Ltd via fax or email.
Our relationship with the learners does not end with the bursary support. We track progress from first year through to graduation and also provide academic and psycho-social support to students.
During the 2015 academic year, Sasria SOC Ltd funded 39 students.
We provide a holistic approach to schools that includes:
Sasria SOC Ltd’s relationship with Menzi High School in Umlazi, Durban began in 2013 when one of its learners, Nonhlanhla Makhathini, received a bursary from Sasria SOC Ltd to continue her Bcomm Accounting degree at the Nelson Mandela Metropolitan University. A relationship was forged with the school and since then, Sasria SOC Ltd has worked with them to assist by:
In the 2015 academic year, the school accomplished an impressive 100% pass rate with 97% of the students achieving a Bachelor’s pass.
In 2014, Sasria SOC Ltd partnered with the Department of Education in the Bohlabela District Municipality and reputable companies to provide extra tuition for grade 12 learners in the Bohlabela District. This programme reached 120 learners in nine districts which improved the grade 12 pass rate in 2015 to 79%, up from 76% in 2014.
The Educate programme is a partnership with Primestars Marketing that was launched in 2016 and offers maths and science revision for Grade 12 learners in edutainment-style programming that is broadcast at 14 Ster Kinekor cinemas across South Africa. Sasria SOC Ltd provided R2 million towards the development of pre-recorded lessons that not only makes the content easy to understand, it is presented in an exciting, fun manner which facilitates learning.
It is important to offer our employees the opportunity to make a meaningful difference and we encourage staff to identify projects requiring assistance in their communities. The renovation of Merwe Primary School is one such initiative that was identified by Magic Makambeni who currently works as a driver at Sasria SOC Ltd. The school is located in Malamulele in Limpopo, Mr. Makambeni’s family home. Sasria SOC Ltd evaluated the renovations required and engaged a service provider to conduct the work which was completed early in 2016.
Our skills development initiatives aim to support government’s plan to increase the number of graduates.
Sasria SOC Ltd is keen on skills development and places graduates on a two-year graduate programme. The individuals work in various departments and in 2016, we have four placed at loss adjuster firms where they will gain invaluable experience.
Ensuring a sustainable pool of talent within the insurance and financial sector is critical to address the skills shortage in the industry. Sasria SOC Ltd in partnership with the Insurance Institute of Gauteng (IIG) has created the Insurance Leadership Development Programme (ILDP) which is designed to provide composite leadership education for middle to senior managers with high potential for future leadership positions within their organisations in the short-term insurance industry. Sasria SOC Ltd has donated R2 million cash to fund this initiative.
Managers from historically disadvantaged groups are taken through an accelerated development programme that is delivered by the Gordon Institute of Business Science (GIBS) over a period of 8 – 12 months. Delegates attend a maximum of four block sessions, each running no longer than one week. A tiered approach is adopted which includes classroom learning, learning application, workplace application, assessment at an individual level and syndicate level. The programme commenced in 2016 with the first intake of students, starting in April, scheduled to complete in February 2017. At present, 13 qualifying candidates are undergoing the training.
Mandela Day, celebrated on the birthday of South Africa’s first democratically elected President, has given the country a platform to get out and make a difference, in whatever way, wherever one can. It gives us a collective sense of national pride and social cohesion and Sasria SOC Ltd embraces this iconic day.
The provision of housing is a basic human right and we encourage employees to get involved in initiatives that alleviate socio-economic and development challenges faced by communities across South Africa. In 2015, we partnered with Armor and the Insurance Institute of Gauteng(IIG) to build two houses for disadvantaged families in Delmas, Mpumalanga. Armor provided materials, Sasria SOC Ltd and IIG provided funding with Sasria SOC Ltd employees and family members going the extra mile to assist with the building.
Sasria SOC Ltd has a staff initiative programme that encourages individuals to get involved in community projects and approach the company for project funding. Employees submit proposals that are evaluated and if they meet specific criteria, a site visit is conducted to verify the project and its requirements. The Ethics Committee then makes a final decision based on feasibility and available budget.
Following the Heritage Day celebration in 2015, Sasria SOC Ltd employees were invited to nominate homecare facilities that could be assisted with various needs. The result was a donation of 34 beds and 68 mattresses to the Amazing Grace Children’s Home in Eikenhof, Johannesburg and R10 000.00 donated to Gail’s Disabled Home, Johannesburg.
A key driver of South Africa’s future success, economic empowerment must be realised across all sectors, but particularly amongst small businesses and in the advancement of entrepreneurship for women, youth and people with disabilities, in order to sustain and grow our economy and create the jobs that are urgentlyrequired.
In 2015, Sasria SOC Ltd partnered with the Gauteng Department of Economic Development on their campaign to adopt small, micro and medium enterprises (SMEs). This forms part of the Township Economy Revitalisation which is aimed at growing economies outside the traditional hubs, ensuring that townships become successful, self-sustaining environments.
Sasria SOC Ltd has adopted 10 black-owned small businesses, four of which are currently service providers to the business. Skills development is facilitated by empowering participants through: