Public Administration News
Share
 |
South Africa: Nedbank is Africa's Socially Responsible Bank |
| Source: |
SA - the Good News |
| Source Date: |
Thursday, July 18, 2013 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
|
| Country: |
South Africa |
| Created: |
Jul 18, 2013 |
|
In line with the criterion for receiving the award, Nedbank is being recognised for making a lasting contribution through its key focus areas, namely: education, community development, health, socio-economic development, children’s welfare, arts and culture, sport development, the environment and volunteerism.
Nedbank’s submission focused on the bank’s comprehensive corporate social responsibility programme, which are aimed at contributing to the socioeconomic development of the country in line with the National Development Plan and the Millennium Development Goals. Through the submission, the bank demonstrated the long-lasting and sustainable effects of its programmes, which are yielding desired results within South Africa.
In the 2012 CSI handbook published by Trialogue, which is regarded as the leading and independent annual CSR report in South Africa, Nedbank was ranked second by non-profit-making organisations and third by corporates under the category companies achieving the most developmental impact.
In terms of the B-BBEE Codes, corporates are required to spend at least 1% of their SA operations net profit after tax (NPAT) on social development and upliftment in 2012. For Nedbank this equates to R59,8m for the year under review.
However for the 2012 financial year, Nedbank Group spent 1,60% of its 2011 SA NPAT, or R95m (2011: R75m) in support of 584 socioeconomic development or social sustainability initiatives in all nine South African provinces.
These funds are dispersed through the Nedbank Foundation Trusts, Nedbank Affinities, the Nedbank External Bursary Fund, Consumer Education initiatives, as well as corporate social responsibility projects and initiatives undertaken by various business clusters throughout the group. Over 50% of the CSR spent went into education as it is the bank’s key focus area.
“We are delighted to once again receive such an outstanding recognition for the second time in just five years. Our approach to corporate social responsibility has proved to be effective in addressing key challenges we face in our country. Our CSR focus is intentionally skewed towards education because we believe that the creation of a knowledge-based economy is critical to addressing the majority of challenges we face as a country. We continue to see amazing results from our efforts and being acknowledged as Africa’s Socially Responsible Bank is testament to the effective and sustainable nature of our contribution,” said Kone Gugushe, Divisional Executive: Corporate Social Responsibility at Nedbank.
Nedbank is the only South African bank which was nominated in this year’s Social Responsible Bank of the Year category and it is also the only bank in South Africa to have won this award twice in five years.
|
|
|
|
|
|
 Tag This |
South Africa: Nedbank is Africa's Socially Responsible Bank For the second time in just five years Nedbank has been voted Africa’s Socially Responsible Bank of the Year at the African Banker Awards held on 29 May 2013 in Marrakesh Morocco This recognition follows a similar acknowledgement that Nedbank received in 2009 in the same category The Socially Responsible Banker award goes to an African bank which has the greatest socially responsible projects and policies The award is also aimed at companies which go beyond the philanthropic use of funds to further use their overall knowledge resources and reputation to improve the lives of those who are disadvantaged in society The panel of judges sought concrete examples of projects policies and initiatives which have had a sustainable impact on the targeted communities
 Tell A Friend |
 del.icio.us digg this Slashdot |
| Rate: |
0 ratings
|
Views: |
32 |
| Comments: |
0 |
Bookmarked: |
0 |
Tagged: |
0 |
|
|
|
|