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.

Our transformation achievements

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.

Our transformation initiatives

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 inaugural Sanlam Gauge Conference took place on Thursday, 6 May 2021, and offered 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 were published in the Sunday Times Business Times on Sunday, 9 May 2021.


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.


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

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

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.

Learn more

Our transformation achievements

Sanlam Gauge

This first of its kind report was launched to measure the level of B-BBEE activity, commitment and success across all industries in SA

Download the full report


People, diversity and inclusion

20 312

Employees

147 541

Employees in over 44 countries

75%

Black employees

61%

Female employees

R345.5 million

Invested in training and development in 2020

Top employer

Sanlam was awarded the Top Employers certification for South Africa for the sixth consecutive year


Job creation and enterprise development

R63 million

Invested in enterprise and development over the past 7 years

  • Creating 391 sustainable jobs
  • Securing 2427 existing jobs
  • Contributing on average 21% to revenue growth of participating SMEs
In 2020, R3.7bn of procurement was spent on black-owned businesses, with R1.7bn to black-owned SMEs and R943m to black-owned SMEs

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.

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