Corporate Social Investment Empowering the nation through education
the art and science of investin g
Nelson Mandela
“Education is the great engine of personal development. It is through education that the daughter of a peasant can become a doctor, that a son of a mineworker can become the head of the mine, that a child of farm workers can become the president...”
STANLIB’s commitment to education has much to do with the fact that, as an Asset Manager, understanding the value of nurturing an investment is in our DNA.
Contents 02 01
03
A true investment in South Africa
STANLIB staff: it’s part of our culture
Overview
Initiatives
07
Conclusion
Making a Difference to Education through Lapdesks 08 Managing finances made easy with the Investment Academy
12
A stepping stone for success: the STANLIB Bursary Sponsorship Programme 14 Saving for education, is more than a dream with The FUNDISA Fund
16
Skills Development Unlocking talent
18
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Thabo Dloti STANLIB CEO
“It’s one thing having a CSI strategy and another bringing it to life. I am convinced that we would not have made such an impact if STANLIB got anything less than a 100% commitment from staff,”
A true investment in South Africa As a company with strong South African roots, STANLIB is passionate about contributing to the community in which we operate. Improving the lives of people across the board is at the heart of our Corporate Social Investment programme. STANLIB and our employees possess a diversity of skills and resources that we believe could have long-term, positive benefits for our communities. South Africa’s skills shortage is well documented and perhaps the best way to harness this country’s potential is through education. We believe that galvanising people through education is not just government’s responsibility; it’s a goal that we all need to work towards. At STANLIB we support a number of projects and have developed several initiatives, all of which have ‘empowerment through education’ at their heart. This publication illustrates how education can have a positive impact in the lives of South Africans.
Thabo Dloti CEO
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Making a Difference to Education through Lapdesks What is a Lapdesk? A Lapdesk is an award winning, patented portable desk that was designed and is being manufactured in South Africa. Its purpose is to reduce the desk shortages in schools by providing school children with a portable desk that they own. Due to lack of resources, theft and vandalism, many children do not have desks in school and as a result they find it difficult to concentrate in class and their writing is negatively affected. The Lapdesk Programme aims to enable students to have desks at school that they can take home as well, and to improve concentration and writing skills.
In line with our philosophy of empowering through education, the Lapdesk project aims to provide school children with a portable desk which can be used at both school and home and which will result in an improvement in the learners’ grades and concentration in class. We have built up strong relationships with a group of underprivileged schools in South Africa and, in partnership with Lapdesk SA, STANLIB has donated thousands of portable desks to disadvantaged schools where equipment is at a minimum. In Gauteng, each department at STANLIB has adopted one of the eight chosen schools, taking responsibility for driving top-up handovers of Lapdesks to the new students and improving the conditions at each school. STANLIB also provides the services of expert trainers to impart money management skills and highlight the importance of saving to learners from grade 4 to 7. The school adoption initiative provides employees with an opportunity to get directly involved with the programme while ensuring that we continuously monitor the challenges of each school. Recognising that desk shortages are an issue across the country, we extended our reach to primary schools in Polokwane, Port Elizabeth and Cape Town in 2010, working closely with local communities, the institutional team and our partners to execute the national handovers. We will be involving the department of education in Gauteng to give us valuable input into our intended spend in our schools. However our key focus will be to partner with the top schools in South Africa and the Student Sponsorship Programme to improve the quality of education in our schools.
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Tunnel feeding scheme As part of the school adoption programme, STANLIB’s Institutional team has adopted the King Zwelithini School in Emdeni, Soweto. Understanding the critical link between proper nutrition and the ability to learn, and in consultation with the school principal, the team identified a feeding scheme as a key priority to help the children have a proper meal each day. Hydroponic food tunnels were donated to the school for the benefit of not only the 470 school children, but the broader community which can buy excess produce from the school at a small fee, thus generating additional funds for the school.
In their own words The Lapdesk handovers are without exception a powerful and positive experience, not just for the children who are given the opportunity to learn in a more enabling environment, but also for the STANLIB employees who are rewarded with the smiles and laughter of those who truly appreciate the gift of education.
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We are so gr ateful that ST ANLIB is visiting our sc hool. The Lap desks will make a posit ive impact on the lives of our learne rs. The benef its will surely be long -term.
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Thank yo u S have done TANLIB for wha t the paint for us – the book you ing of th s and e sc garden we are ve hool and the ry grate ful. King Zwe
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Managing finances made easy with the Investment Academy Since its inception in 2006, the STANLIB Investment Academy has educated more than 11 000 students at previously disadvantaged tertiary institutions across South Africa about how to manage their finances. The training content covers topics such as budgeting, savings, investments, debt and pension plans and aims to effectively empower young individuals with sufficient investment and financial knowledge to assist them once they start working. Students qualify from the Investment Academy with an NQF level 1 accredited course and STANLIB communicates with graduates on a quarterly basis about developments in the economy or the financial services industry. The Academy travels to 16 tertiary institutions around the country and uses highly qualified facilitators and a variety of methods, including industrial theatre, to get the financial point across. Approximately 2 500 students attend the Academy each year. Originally launched to fulfill the Financial Sector Charter consumer education requirement, the Investment Academy programme has evolved over the last five years and has become extremely popular amongst the students.
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A stepping stone for success: the STANLIB Bursary Sponsorship Programme
As a leading corporate citizen, STANLIB understands the need to invest in various programmes aimed at educating and providing skills for young people from diverse and previously disadvantaged backgrounds. Diverse people usually result in diverse ideas and that mentality is at the heart of the STANLIB Bursary Sponsorship Programme. The programme funds tertiary level education for students from previously disadvantaged backgrounds, giving them the opportunity to study at universities in South Africa. During their studies the bursaries cover fees, accommodation, residence, books and meal costs as well as providing a monthly stipend. In addition, bursary students are given an opportunity to work at STANLIB during their vacations and to be interviewed for STANLIB’s Graduate Development Programme or employment opportunities. STANLIB has employed several of the students it has sponsored as permanent employees. “It’s more than just helping out those less fortunate – it’s about harnessing talent wherever it may be in South Africa. That’s why we’re so committed to this programme,” says Sifiso Cele, Head of Human Resources at STANLIB.
Student Sponsorship Programme The Student Sponsorship Programme is an initiative of the Student Sponsorship Programme (SSP) Organisation. The SSP develops South Africa’s future Leaders by providing academically distinguished, low-income students with the opportunity to excel at South Africa’s best high schools throughout the country. Since 2005, STANLIB has participated as a sponsor company to help fund the scholars’ education and, in some cases, placing them on the STANLIB Bursary Programme following matriculation. “Thank you to all the people at STANLIB who invested their time and money in the future young coming generation of South Africa,” said student Lerato Motaung. STANLIB remains committed to this initiative and is currently sponsoring five students who will be funded through to Grade 12. “My mentor, Sifiso Cele, seems really amazing. I think we’re going to have so much fun throughout the years of my high school career. It is really going to be baie wonderlik,” said Pretty Dube, a student at Redhill High School. Akhona Zondani from Rodean added: “I want to thank STANLIB for the wonderful sponsorship they offered me. I will do my best not to disappoint and to work hard. Thanks a million for caring.”
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Saving for education, is more than a dream with the Fundisa Fund Every South African deserves the opportunity to receive a good education, but in order to afford it parents need to start saving as early as possible. Through the Fundisa Fund, STANLIB encourages South Africans to save for their education.
Fundisa, helping to put education in everyone’s grasp The need to focus on educating the nation remains a major area of focus for government. It was with the aim of supporting the national education agenda that the Fundisa Fund was born. Largely as a result of the efforts of STANLIB who helped drive this product until it was eventually launched. The Fundisa Fund was launched in 2007 as a unique educational savings product, aimed primarily at low-income groups who are previously unbanked or use basic banking services. It is managed by STANLIB in partnership with the Association for Savings and Investment of South Africa (ASISA). The Fund offers clients a grant of 25% of net contributions over a one year period limited to R600 per annum. This is an incentive for entry level previously disadvantaged investors or beneficiaries. The Fundisa grant pool is funded by the private sector and government who have committed funding for the 3 year pilot. Cumulatively STANLIB has contributed 32% of all private sector grant pool donations from 12 financial services organizations as at the end of December 2010. “The Fundisa Fund has created a wonderful opportunity for members of the collective investment schemes industry to work together with the aim of addressing the country’s critical skills shortage by providing South Africans with a flexible and cost effective longterm savings tool for their children’s tertiary education,” says Janete Nel of ASISA.
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Skills Development Unlocking talent
A learnership is a work-based training and education programme that is linked to a qualification registered on the National Qualifications Framework (NQF) with the South African Qualification Authority (SAQA). Learnerships consist of both theoretical learning and practical workplace experience over a 12 month period.
At STANLIB we believe that education is one of the keys to a brighter future. Corporate learnership programmes have been promoted by government as the primary tool to deal with the country’s skills shortage and to assist young people in securing employment.
STANLIB Learnership Programme Since 2004, STANLIB has successfully been running the Financial Sector Charter (FSC) Learnership Programme. The programme involves formal and informal training, using a coaching and mentoring style that suits the individuals on the programme. Learners are selected for the programme each year to take part in a wide variety of activities within the business, including CSI projects where they are required to raise their own funds to assist their chosen organisation, following STANLIB’s formal CSI processes. Learners join STANLIB in the second quarter of the year, having spent four months at Boston College completing a qualification in their chosen field. Each learner is assigned a mentor and allocated to a department for a year. While learners are not guaranteed permanent employment following the Learnership Programme, we aim to offer such opportunities to suitable candidates should positions be available within the business. Learners are required to take part in normal recruitment processes prior to appointment.
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The Graduate Development Programme This initiative aims to develop and grow fresh new talent straight from university through a 12-month graduate programme. Upon joining STANLIB, the graduates complete a two-week induction before spending time in the various business units where they are exposed to both on and off-site training in industry knowledge, people, communication and client service skills. STANLIB provides an environment that encourages graduates to share their ideas and provide input to their colleagues and managers. Mentors are allocated, including senior managers and directors, to assist them throughout the training programme. Networking opportunities help graduates to learn, grow and identify the niche area in which they would like to forge a career. At the end of the programme graduates may be considered for full time employment with STANLIB, should a relevant position be available. “As a business coordinator for this programme all I have to say is I love working with young people and being part of their skills development. My job is to ensure the programme is managed very well and is successful for both the business and learners. I work by a win-win rule and method for both business and the learners. I also work together with management and mentors to make sure we all give opportunity and exposure to the learners whilst on training in the business. We have incredible support from both management and mentors and we all work together as a team,” says Nosi Ndamase, Co-ordinator of the STANLIB Learnership. “I think the graduate and learnership programme is a huge career stepping stone. It is incredibly difficult to break into asset management so I am grateful for the opportunity,” said Ayanda, former candidate.
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STANLIB staff: it’s part of our culture
It is quite clear that STANLIB has an obsession with sustainably improving the lives of South Africans through education. The success of the company’s multi-tiered Corporate Social Investment strategy would not be possible without the commitment and dedication from staff (who are the ones that actually drive the process).
Corporate Social Investment Committee In order to improve our governance and accountability for our CSI strategy and spend, we have created a CSI committee which will approve all decisions relating to these areas. The committee comprises 6 members and is chaired by the Head of CSI.
Employee Matching Scheme Every year we allocate a portion of our CSI budget to the employee matching scheme. This is the money that has been budgeted to match contributions that staff members raise for a CSI initiative that they are passionate about. Although we would love for every staff member to be involved in the company CSI projects, we understand that people are passionate about initiatives other than the company specific programs and the company is willing to support them. STANLIB is committed to matching cash donations that our staff contribute, Rand for Rand to registered Non-Profit Organisations.
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