This year, Sanlam deployed R4 billion in capital to support expanded transformational infrastructure in South Africa. This includes targeted investments in affordable housing and agricultural development.
We are working closely with industry associations such as the Association for Savings and Investment South Africa (ASISA) and Business Leadership South Africa (BLSA), and have regular engagement with the presidency and national treasury. We entered into an agreement with the Gauteng Department of Basic Education to support the Member of the Executive Council (MEC’s) fundraising efforts. Sanlam partnered with and sponsored several Women’s Day events with the Department of Cooperative Governance, Social Development and Parliament.
We are also positive about our engagement with the new South African regulators and are encouraged by the fact that major pieces of legislation are now gaining traction.
Outside of South Africa, we follow a similar approach with active participation in industry representative groups and regular engagement with the local regulators. In many of these markets we play a critical role in developing the insurance market to increase insurance penetration to the benefit of the underinsured society.
We remain committed to supporting small and medium enterprises (SMEs) as the true catalysts to achieving economic growth and development. We believe in nurturing the entrepreneurial talents of individuals by creating and maintaining a network of competent suppliers to drive transformation within our supply chain.
Considering the critical role of skills development and education to drive economic growth, the Sanlam Foundation identified the Sanlam Blue Ladder Schools Programme as our flagship socio-economic development initiative. This project has already improved the lives of learners, parents and their immediate communities at schools across South Africa. Aligned with South Africa’s National Development Plan, the Sanlam Blue Ladder Schools Programme was conceptualised as a holistic initiative to address the challenge of poor maths results.
The rationale behind identifying mathematics as the focus area was the link back to scarce skills in our industry, the link between numeracy and savings rates and the bigger correlation between numeracy levels and poverty, unemployment and inequality. Part of the holistic approach was to help address some of the barriers to effective teaching and learning.