Transformation for the right reasons

Our commitment to transformation is informed by the universal insight that everyone deserves an equal chance and opportunity to live a better life.

View our socio-economic strategy
Our transformation achievements
View our transformation journey
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Sanlam’s transformation agenda

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.


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Our BEE credentials

More about transformation in Sanlam

Our purpose

“We aim to be at the forefront of authentic transformation within our sector and to make a meaningful difference in people’s lives”

Our commitment

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

What transformation means for Sanlam

  • Ensuring our employees and the communities we operate in have equal opportunities and meaningful participation in the economy - positively impacting people and societies where we operate
  • Inclusive and diverse workforce, and diverse and equitable representation in all occupational levels and all levels in the economy
  • Employees who are developed to meet Sanlam’s goals and objectives
  • Inclusive culture - ensuring a culture of belonging
  • Supporting diverse suppliers, ensuring the development of small businesses and diversifying our supply chain
  • Inclusive growth for all, including inclusive ownership and control of Sanlam - blacks and minorities in countries
  • Financially confident employees, suppliers and communities we operate in

Why transformation is important for Sanlam

  • It is the right thing to do - morally, legally and financially. We do transformation for the right reasons (not because we are forced to or ticking the scorecard).
  • Sustainable growth, and an expanded middle market, are central to our strategic ambition to become a fortress in South Africa, a pan-African champion, with a strengthened Indian franchise. Achieving this growth is dependent on transforming economies to become more inclusive.
  • Through our transformation efforts the Sanlam Group addresses the deep systemic vulnerabilities that prevent inclusive economic growth in markets where we operate.

Making a leading contribution
to socio-economic transformation

Transformation is one of the key ways that we create meaningful impact and address socio-economic issues. This extends beyond internal changes in our business to helping clients protect themselves and build financial resilience.

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Our proud journey of empowerment

Since the establishment of the Sanlam Ubuntu-Botho partnership in 2004, Sanlam and Ubuntu-Botho have grown the Sanlam business together, empowering a broad base of black shareholders and communities previously excluded from the mainstream economy. This is the story of Sanlam’s partnership with Ubuntu-Botho over the first two decades of the 21st century.

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Our transformation initiatives

Our primary initiative: Sanlam Transformation Gauge

Now in its third year, the Sanlam Transformation Gauge – in partnership with Sunday Times Business Times – is the only consolidated, sector-focused research report that takes a holistic measurement of economic transformation in South Africa, accounting for all elements of Broad-based Black Economic Empowerment (B-BBEE).

The 2023 Sanlam Transformation Gauge unpacks what is working, what isn’t, and looks at how we can spark debate and drive new solutions to reinvigorate our collective efforts to actively and deliberately include all South Africans in the economy.

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Our stakeholders

At Sanlam, we take our stakeholders seriously and believe that transformation happens when all our stakeholders partake in the economy of the country.

Our clients
Supporting our communities
Empowering our people
Empowering our suppliers

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.


Our transformation partners

The Foundation

The Sanlam Foundation has invested R746 million in communities since 2011.


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Sustainability

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.

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Our transformation achievements

Sanlam has achieved a Level 1 B-BBEE contributor status for the sixth (6th) consecutive year.


People, diversity and inclusion

113 748

Number of employees globally

21 125

Number of employees in South Africa

79%

Percentage Black People in South Africa

62%

Female employees in South Africa

R321m

Investment in training and development


Enterprise and supplier development

R20 million

ESD grant funding

  • R237m in loan funding towards ESD

Frequently asked questions

What is the purpose of Broad-Based Black Economic Empowerment (B-BBEE)?

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.

What is the difference between BEE and B-BBEE?

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.

Why is B-BBEE important?

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.

How do I know in which B-BBEE category my entity falls?

B-BBEE classifies entities based on annual turnover.

What is fronting?

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.

Is fronting a criminal offence?

Yes, fronting is a criminal offence with harsh penalties.

How do I report fronting?

Fronting must be reported to the BEE Commission for investigation and action.

What is the purpose of the Employment Equity Act?

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.

What is affirmative active?

Affirmative action ensures that qualified people from designated groups have equal opportunities in the workplace.

What are affirmative action measures?

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.

What are employment equity barriers?

Employment equity barriers are defined as the reasons for underrepresentation of designated employees in the workforce profile.

Key resources

Contact us

sanlamgrouptransformation@sanlam.co.za