As a purpose-led company, we seek to empower generations to be financially confident, secure and prosperous. Our commitment to transformation is informed by the universal insight that everyone deserves an equal chance and opportunity to live a better life. Our grounding in South Africa has exposed us to the reality that it is impossible to transform economies without dealing with the underlying systemic social challenges, including redressing past injustices.
With the Sanlam transformation agenda, we are aiming to “build back better” in the markets where we operate. We want to truly align these markets with the natural, social and economic systems on which they depend and to build real resilience, driving equitable and sustainable growth and essentially reinventing capitalism itself.
“We aim to be at the forefront of authentic transformation within our sector and to make a meaningful difference in people’s lives”
Sanlam is committed to authentic transformation. We do transformation for the right reasons. We believe that true transformation is imperative for the business, employees and communities we operate in to thrive. Transformation is infused in our business and embedded in our values.
THE IMPORTANCE OF TRANSFORMATION
Our primary initiative: Sanlam Gauge
Driving momentum and meaningful change through purpose-led action.
The Sanlam Gauge is the first report of its kind to deliver insights on sectoral rather than individual company performance, to provide a more defined view of how industries within South Africa are transforming. It also provides a ‘score’ for SA Inc’s overarching progress.
The second Sanlam Gauge Conference took place on 20 July 2022 and offers a platform for constructive debate about the direction of South Africa’s economic transformation journey and ways to drive action by cutting through the bottlenecks holding the country back from inclusive growth.
Ultimately, the Sanlam Gauge aims to encourage inclusivity, growth and transformation across all industries. It is presented in partnership with Arena Holdings, the Sunday Times Business Times and KhumaloCo, with Intellidex conducting the research for the report. The findings will be published in the Sunday Times Business Times on Sunday , 24 July 2022.
At Sanlam, we take our stakeholders seriously and believe that transformation happens when all our stakeholders partake in the economy of the country.
Through the years, we have built strong business relationships with our suppliers. This has helped us form good partnerships and enabled quality service from our suppliers. Through supporting our suppliers, we have helped build resilient supply chains.
Over the last 10 years, the Foundation has invested more than R630 million in a wide range of community development initiatives and employee volunteerism.Learn more
As one of the biggest insurance groups in the world, Sanlam plays an important role in creating and maintaining a sustainable system that can adapt and flourish.Learn more
Our transformation achievements
This first of its kind report was launched to measure the level of B-BBEE activity, commitment and success across all industries in SA
Employees in over 44 countries
Invested in training and development in 2020
Sanlam was awarded the Top Employers certification for South Africa for the sixth consecutive year
Invested in enterprise and development over the past 7 years
Broad-Based Black Economic Empowerment (B-BBEE) is a government policy to advance economic transformation and enhance the economic participation of black people (African, Coloureds and Indians who are South Africans) in the South African economy.
BEE refers to the government’s policy and B-BBEE is the implementation of the policy. Both refer to the same strategic framework that seeks to right the wrongs of the past and to distribute the wealth of the nation across all races and genders.
By complying with B-BBEE, organisations promote economic transformation in South Africa which in turn will promote economic growth within the country due to the increase in the extent to which communities own and manage enterprises.
B-BBEE classifies entities based on annual turnover.
An entity or structure established to circumvent Black Economic Empowerment. For example, the creation of an entity that has no capability (staff or assets) merely to provide a good BEE-level or splitting a company into smaller entities to fall into EME or QSE categories.
Yes, fronting is a criminal offence with harsh penalties.
Fronting must be reported to the BEE Commission for investigation and action.
The purpose of the Employment Equity Act No. 55 of 1998 is to achieve equity in the workplace by promoting equal opportunity and fair treatment in employment through the elimination of unfair discrimination and implementing affirmative action measures to redress the disadvantages in employment experienced by people from the designated groups.
Affirmative action ensures that qualified people from designated groups have equal opportunities in the workplace.
Affirmative action measures are measures designed to ensure that suitably qualified people from the designated groups have equal employment opportunities and are equitably represented in all occupational levels in the workforce of a designated employer.
Employment equity barriers are defined as the reasons for underrepresentation of designated employees in the workforce profile.