Sweech

Hassle-FREE Online Campaigns On Sweech

Finance sector aims to lead way

Comment on this story


IOL BRS NED

Bloomberg

Nedbanks logo is etched into the glass window at the groups headquarters in Sandton, Johannesburg. The lender has received a level 2 B-BBEE rating for five years. The writer believes ransformation transcends compliance and that it is a business and moral imperative to enable sustainable socio-economic benefits for all. Photo: Bloomberg.

Johannesburg - As we continue to celebrate and reflect on 20 years of democracy, we acknowledge the transformational strides that South Africa has taken in many industries.

We are equally aware that more work awaits us and that this should be done with planning and pace.

The financial services sector, in particular, remains at the forefront of transformation, ensuring more South Africans are financially included in the economy.

A study last year by FinScope found that the proportion of adults in South Africa who were banked had risen to 75 percent from 67 percent in 2012.

Furthermore, the proportion of adults who are deemed to be financially included had risen to 84 percent from 81 percent.

While the black economic empowerment (BEE) transformational environment has become more demanding following the promulgation of the revised codes of good practice, it also reflects a reorientation of transformation policy to better address some of the challenges, including fronting and the drive to create more black entrepreneurs through greater focus on skills development and enterprise and supplier development.

The principles behind broad-based BEE (B-BBEE) seek to ensure a more equitable society with a greater proportion of black ownership across all industries.

This has yet to be realised, with research showing that less than a quarter of the shares on the JSE are owned by black South Africans.

Some claim that far from increasing black ownership, BEE and the subsequent B-BBEE framework may have precluded some international investment and, second, resulted in “fronting”, where some companies may not comply with the codes of good practice and, if they do, this is primarily to obtain public work.

The financial sector is committed to promoting a transformed, vibrant, and globally competitive industry that reflects the demographics of South Africa and contributes to the establishment of an equitable society by providing accessible services to black people and directing investment into targeted economic sectors.

The University of Western Cape’s second Baseline Report 2013 showed that 61 percent of large companies’ B-BBEE scores lay between levels 4 and 6.

However, companies in the financial sector, specifically the bigger banks, on average achieved scores between levels 2 and 3.

Nedbank has achieved a level 2 B-BBEE rating for five consecutive years. We believe that transformation transcends compliance and consider it a business and moral imperative to enable sustainable socio-economic benefits for all.

We have made great strides towards addressing the imbalances of the past in the organisation. Fifty-four percent of our board representation is black, with women accounting for 24 percent of this.

In fact, generic black and, particularly, black woman management representation across the various levels has been steadily improving over the years – with 79 percent of training spend being deliberately allocated to black employees.

Also, the Nedbank Eyethu Share Scheme launched in 2005 has seen a net value growth of more than R6.7 billion and more than R747 million been paid out in dividends to black employees, clients and communities.

In a wider economic context, more needs to be done to bring people, especially those living in rural areas, into the economic mainstream.

While this remains a challenge in a country with high unemployment and low gross domestic product growth, targeted initiatives can position us on this path.

It is for this reason that Nedbank has embarked on a number of initiatives, including its partnership with its black business partners Women’s Investment Portfolio Holdings Limited and the Brimstone-Mtha-we-Mpumelelo Consortium, which have laid the foundation for further growth and transformation across the group and our client base.

Alongside these partners, Nedbank’s Imbizo project supports and nurtures micro businesses in rural communities as well as exploring new ways of doing business to ensure that these communities derive social and economic benefit from the enterprises that operate within them.

The programme also provides mentorship to small and medium enterprises to ensure their sustainability and growth.

Looking ahead, it is a reality that most of the BEE deals launched over the past 10 years will mature, meaning that companies may need to consider new structures or vehicles that will ensure continued black ownership.

This must be done in a tough and often unstable economic environment where capital outlay will be required.

Although there are significant changes to the revised codes of good practice that will imply a drop in levels, Nedbank remains committed to transformation and will participate in an industry realignment process through the Banking Association of South Africa and the Financial Sector Charter Council.

Also, we will continue to build on our solid empowerment credentials and drive transformation throughout the company and the country by working to empower and uplift all citizens and encourage the growth of emerging black entrepreneurs.

 

 

Kershini Govender is Nedbank’s divisional executive for transformation, strategy and alignment


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
kel3
I'm a 31 year old woman looking to meet men between the ages of 31 and 38.
View Profile
Duifie038
I'm a 45 year old woman looking to meet men between the ages of 36 and 50.
View Profile
Dreamer1987
I'm a 27 year old woman looking to meet men between the ages of 25 and 35.
View Profile
CC82
I'm a 32 year old woman looking to meet men between the ages of 30 and 45.
View Profile
OneWay
I'm a 39 year old woman looking to meet men between the ages of 35 and 47.
View Profile
GirlInterruptedNow
I'm a 41 year old woman looking to meet men between the ages of 38 and 45.
View Profile
Stella143
I'm a 35 year old woman looking to meet men between the ages of 34 and 45.
View Profile
TenderMoments
I'm a 48 year old woman looking to meet men between the ages of 45 and 55.
View Profile
butterflykisses14
I'm a 30 year old woman looking to meet men between the ages of 31 and 51.
View Profile
Abs
I'm a 36 year old woman looking to meet men between the ages of 36 and 40.
View Profile
devotedlady
I'm a 43 year old woman looking to meet men between the ages of 43 and 55.
View Profile
veldmuis007
I'm a 33 year old woman looking to meet men between the ages of 28 and 35.
View Profile
ioio
I'm a 37 year old woman looking to meet men between the ages of 35 and 45.
View Profile
Katryn777
I'm a 34 year old woman looking to meet men between the ages of 34 and 40.
View Profile
Sugababe
I'm a 41 year old woman looking to meet men between the ages of 32 and 42.
View Profile
NY25
I'm a 25 year old woman looking to meet men between the ages of 25 and 30.
View Profile
PhoenixLin
I'm a 32 year old woman looking to meet men between the ages of 25 and 42.
View Profile
Jade_242
I'm a 46 year old woman looking to meet men between the ages of 45 and 55.
View Profile
KarooBoereMeisie
I'm a 34 year old woman looking to meet men between the ages of 30 and 40.
View Profile
Livs_89
I'm a 25 year old woman looking to meet men between the ages of 30 and 38.
View Profile
lookingsexy200
I'm a 36 year old woman looking to meet men between the ages of 34 and 45.
View Profile
MrsRobinson
I'm a 37 year old woman looking to meet men between the ages of 36 and 45.
View Profile
_Alwayssmiling
I'm a 30 year old woman looking to meet men between the ages of 30 and 41.
View Profile
Ninks
I'm a 36 year old woman looking to meet men between the ages of 36 and 42.
View Profile
KayBee75
I'm a 39 year old woman looking to meet men between the ages of 35 and 49.
View Profile
Lvit2C
I'm a 29 year old woman looking to meet men between the ages of 27 and 39.
View Profile
bluemon
I'm a 30 year old woman looking to meet men between the ages of 30 and 45.
View Profile
naty677
I'm a 28 year old woman looking to meet men between the ages of 39 and 62.
View Profile
MistressofBrand
I'm a 34 year old woman looking to meet men between the ages of 34 and 44.
View Profile
Lilakii
I'm a 21 year old woman looking to meet men between the ages of 20 and 33.
View Profile
FairyLady
I'm a 51 year old woman looking to meet men between the ages of 47 and 70.
View Profile
xine_414
I'm a 28 year old woman looking to meet men between the ages of 25 and 35.
View Profile
Pretty_Nerd
I'm a 28 year old woman looking to meet men between the ages of 28 and 38.
View Profile
AGX
I'm a 36 year old woman looking to meet men between the ages of 35 and 44.
View Profile
findmemyman
I'm a 48 year old woman looking to meet men between the ages of 35 and 50.
View Profile
JustAnna
I'm a 39 year old woman looking to meet men between the ages of 25 and 55.
View Profile
Athena
I'm a 37 year old woman looking to meet men between the ages of 37 and 45.
View Profile
love_passionately
I'm a 43 year old woman looking to meet men between the ages of 45 and 55.
View Profile
AmaJ
I'm a 44 year old woman looking to meet men between the ages of 42 and 50.
View Profile
LilaBlom
I'm a 23 year old woman looking to meet men between the ages of 23 and 33.
View Profile
twinkle87
I'm a 27 year old woman looking to meet men between the ages of 28 and 45.
View Profile
Roxyxxx
I'm a 43 year old woman looking to meet men between the ages of 43 and 50.
View Profile
dreamsoftly
I'm a 49 year old woman looking to meet men between the ages of 47 and 58.
View Profile
2gether4ever
I'm a 41 year old woman looking to meet men between the ages of 40 and 50.
View Profile
voelkos
I'm a 54 year old woman looking to meet men between the ages of 45 and 56.
View Profile
Belind4_M
I'm a 19 year old woman looking to meet men between the ages of 19 and 30.
View Profile
bon1bon
I'm a 35 year old woman looking to meet men between the ages of 29 and 40.
View Profile
Wonderer_0202
I'm a 42 year old woman looking to meet men between the ages of 40 and 52.
View Profile
sunshinebright
I'm a 55 year old woman looking to meet men between the ages of 45 and 60.
View Profile
Stiletto1
I'm a 53 year old woman looking to meet men between the ages of 50 and 57.
View Profile
Lisa_Jayne
I'm a 27 year old woman looking to meet men between the ages of 23 and 35.
View Profile
BMull08
I'm a 19 year old woman looking to meet men between the ages of 19 and 30.
View Profile
Kosmos075
I'm a 39 year old woman looking to meet men between the ages of 35 and 55.
View Profile
molletdelvalles
I'm a 39 year old woman looking to meet men between the ages of 35 and 55.
View Profile
Sunshine_again
I'm a 46 year old woman looking to meet men between the ages of 43 and 58.
View Profile
limegreen48
I'm a 48 year old woman looking to meet men between the ages of 45 and 55.
View Profile
RooikopBokkie
I'm a 52 year old woman looking to meet men between the ages of 45 and 52.
View Profile
ThisIsTheRemix
I'm a 33 year old woman looking to meet men between the ages of 31 and 41.
View Profile
itu22
I'm a 22 year old woman looking to meet men between the ages of 25 and 37.
View Profile
Comet43
I'm a 43 year old woman looking to meet men between the ages of 40 and 54.
View Profile
Lemoenbloeisel
I'm a 35 year old woman looking to meet men between the ages of 30 and 45.
View Profile
soutenpepper
I'm a 25 year old woman looking to meet men between the ages of 25 and 37.
View Profile
Gem24
I'm a 24 year old woman looking to meet men between the ages of 25 and 40.
View Profile
Mysong
I'm a 48 year old woman looking to meet men between the ages of 50 and 55.
View Profile
PearlyGem
I'm a 55 year old woman looking to meet men between the ages of 50 and 60.
View Profile
snowbird7
I'm a 33 year old woman looking to meet men between the ages of 31 and 39.
View Profile
Vinnette
I'm a 52 year old woman looking to meet men between the ages of 45 and 55.
View Profile
supe24
I'm a 34 year old woman looking to meet men between the ages of 35 and 65.
View Profile
Foreverinhope
I'm a 48 year old woman looking to meet men between the ages of 45 and 56.
View Profile
thrillsandfrills
I'm a 40 year old woman looking to meet men between the ages of 41 and 45.
View Profile
Rarefind
I'm a 54 year old woman looking to meet men between the ages of 52 and 63.
View Profile
Starlight_001
I'm a 35 year old woman looking to meet men between the ages of 35 and 45.
View Profile
Gypsey4Life
I'm a 51 year old woman looking to meet men between the ages of 50 and 62.
View Profile
Sosialemeis2
I'm a 28 year old woman looking to meet men between the ages of 35 and 46.
View Profile
Cat007
I'm a 46 year old woman looking to meet men between the ages of 45 and 55.
View Profile
sportliefhebber
I'm a 25 year old woman looking to meet men between the ages of 25 and 31.
View Profile
Veronica2477
I'm a 38 year old woman looking to meet men between the ages of 40 and 50.
View Profile
MademoiselleMyGirl
I'm a 30 year old woman looking to meet men between the ages of 30 and 40.
View Profile
nads42
I'm a 42 year old woman looking to meet men between the ages of 38 and 58.
View Profile
AH1974
I'm a 40 year old woman looking to meet men between the ages of 40 and 48.
View Profile
iamclassy
I'm a 43 year old woman looking to meet men between the ages of 50 and 65.
View Profile
DaffodilTulip
I'm a 48 year old woman looking to meet men between the ages of 40 and 50.
View Profile
MustLoveDogz
I'm a 33 year old woman looking to meet men between the ages of 33 and 43.
View Profile
Gem31
I'm a 24 year old woman looking to meet men between the ages of 25 and 35.
View Profile
Lulu_101
I'm a 36 year old woman looking to meet men between the ages of 38 and 45.
View Profile
blondgirl
I'm a 57 year old woman looking to meet men between the ages of 53 and 60.
View Profile
TLC508
I'm a 45 year old woman looking to meet men between the ages of 40 and 52.
View Profile
Bluebell531
I'm a 46 year old woman looking to meet men between the ages of 40 and 60.
View Profile
CLC_91
I'm a 23 year old woman looking to meet men between the ages of 25 and 35.
View Profile
Magnolia52
I'm a 52 year old woman looking to meet men between the ages of 50 and 65.
View Profile
pesin15
I'm a 38 year old woman looking to meet men between the ages of 18 and 100.
View Profile
honkytonkwoman
I'm a 58 year old woman looking to meet men between the ages of 55 and 64.
View Profile
Cymbidium
I'm a 47 year old woman looking to meet men between the ages of 47 and 60.
View Profile
LuckyCharm_440
I'm a 29 year old woman looking to meet men between the ages of 29 and 40.
View Profile
Ellevee53
I'm a 54 year old woman looking to meet men between the ages of 50 and 56.
View Profile
Jimmyhgirl
I'm a 37 year old woman looking to meet men between the ages of 37 and 55.
View Profile
RiaStar
I'm a 35 year old woman looking to meet men between the ages of 32 and 40.
View Profile
angelface93
I'm a 21 year old woman looking to meet men between the ages of 21 and 29.
View Profile
1020
I'm a 34 year old woman looking to meet men between the ages of 34 and 38.
View Profile
FeaturedProfile
I'm a 54 year old man looking to meet women between the ages of 40 and 54.
View Profile
Pottie16
I'm a 44 year old man looking to meet women between the ages of 35 and 45.
View Profile
ch_nb
I'm a 28 year old man looking to meet women between the ages of 18 and 45.
View Profile
Padriac_1974
I'm a 40 year old man looking to meet women between the ages of 30 and 45.
View Profile
softtail
I'm a 50 year old man looking to meet women between the ages of 35 and 48.
View Profile
Rich_H
I'm a 48 year old man looking to meet women between the ages of 25 and 48.
View Profile
boersoekvrou14
I'm a 39 year old man looking to meet women between the ages of 30 and 42.
View Profile
BobTheExtremeBuilder
I'm a 47 year old man looking to meet women between the ages of 25 and 47.
View Profile
chester3
I'm a 54 year old man looking to meet women between the ages of 49 and 76.
View Profile
skyandsand
I'm a 31 year old man looking to meet women between the ages of 25 and 35.
View Profile
shadowwarrior
I'm a 59 year old man looking to meet women between the ages of 38 and 55.
View Profile
Espavo
I'm a 50 year old man looking to meet women between the ages of 30 and 48.
View Profile
JustJve99
I'm a 47 year old man looking to meet women between the ages of 40 and 45.
View Profile
Duk_880
I'm a 39 year old man looking to meet men between the ages of 20 and 50.
View Profile
anandr
I'm a 57 year old man looking to meet women between the ages of 38 and 65.
View Profile
polar1970
I'm a 44 year old man looking to meet women between the ages of 25 and 45.
View Profile
gentlebutcrazy
I'm a 58 year old man looking to meet women between the ages of 35 and 55.
View Profile
Teddiebeerpa
I'm a 54 year old man looking to meet women between the ages of 40 and 50.
View Profile
plodof
I'm a 58 year old man looking to meet women between the ages of 35 and 55.
View Profile
Abeachboy
I'm a 51 year old man looking to meet women between the ages of 38 and 48.
View Profile
B_B_B
I'm a 43 year old man looking to meet women between the ages of 18 and 45.
View Profile
Virion
I'm a 30 year old man looking to meet women between the ages of 25 and 33.
View Profile
Double_N
I'm a 41 year old man looking to meet men between the ages of 25 and 50.
View Profile
bellagio
I'm a 69 year old man looking to meet women between the ages of 55 and 65.
View Profile
Rebelinbluejeans
I'm a 62 year old man looking to meet women between the ages of 40 and 62.
View Profile
Eugene053
I'm a 54 year old man looking to meet women between the ages of 25 and 45.
View Profile
M0J0
I'm a 34 year old man looking to meet women between the ages of 23 and 35.
View Profile
Determined_69
I'm a 45 year old man looking to meet women between the ages of 35 and 47.
View Profile
fordby
I'm a 45 year old man looking to meet women between the ages of 30 and 50.
View Profile
Pete_1
I'm a 70 year old man looking to meet women between the ages of 55 and 65.
View Profile
Dreamzzz
I'm a 48 year old man looking to meet women between the ages of 40 and 45.
View Profile
Ben_57
I'm a 57 year old man looking to meet women between the ages of 42 and 55.
View Profile
Brad88
I'm a 52 year old man looking to meet women between the ages of 45 and 60.
View Profile
Rumrun
I'm a 56 year old man looking to meet women between the ages of 44 and 56.
View Profile
Fairtalk101
I'm a 46 year old man looking to meet women between the ages of 25 and 37.
View Profile
GenuineJ
I'm a 64 year old man looking to meet women between the ages of 48 and 64.
View Profile
QuietDreamer
I'm a 34 year old man looking to meet women between the ages of 25 and 29.
View Profile
DoctorSpin
I'm a 41 year old man looking to meet women between the ages of 30 and 45.
View Profile
WanderingShadow
I'm a 39 year old man looking to meet women between the ages of 20 and 40.
View Profile
Mais_171
I'm a 49 year old man looking to meet women between the ages of 40 and 55.
View Profile
RVCZ
I'm a 24 year old man looking to meet women between the ages of 18 and 24.
View Profile
oth1982
I'm a 32 year old man looking to meet women between the ages of 18 and 100.
View Profile
waitingforgodot
I'm a 68 year old man looking to meet women between the ages of 53 and 60.
View Profile
Newdreamz
I'm a 49 year old man looking to meet women between the ages of 37 and 46.
View Profile
matiekat
I'm a 66 year old man looking to meet women between the ages of 18 and 100.
View Profile
Woody777
I'm a 50 year old man looking to meet women between the ages of 35 and 55.
View Profile
cornrlius205
I'm a 46 year old man looking to meet women between the ages of 30 and 50.
View Profile
Gerrie1
I'm a 67 year old man looking to meet women between the ages of 50 and 60.
View Profile
PaulA79
I'm a 35 year old man looking to meet women between the ages of 25 and 40.
View Profile
Moonrakker
I'm a 64 year old man looking to meet women between the ages of 50 and 64.
View Profile
JustCallMeBwana
I'm a 47 year old man looking to meet women between the ages of 28 and 38.
View Profile
ekke_706
I'm a 50 year old man looking to meet women between the ages of 40 and 55.
View Profile
OohCharles
I'm a 53 year old man looking to meet women between the ages of 25 and 45.
View Profile
rossi46
I'm a 66 year old man looking to meet women between the ages of 55 and 65.
View Profile
philip_unplugged514
I'm a 62 year old man looking to meet women between the ages of 50 and 65.
View Profile
audiess
I'm a 50 year old man looking to meet women between the ages of 39 and 64.
View Profile
LEO1982
I'm a 32 year old man looking to meet women between the ages of 24 and 40.
View Profile
Thebestone1
I'm a 57 year old man looking to meet women between the ages of 35 and 48.
View Profile
Lifechanger_7
I'm a 25 year old man looking to meet women between the ages of 18 and 30.
View Profile
Breukes
I'm a 35 year old man looking to meet women between the ages of 26 and 35.
View Profile
GideonVisser
I'm a 30 year old man looking to meet women between the ages of 24 and 29.
View Profile
Marley77
I'm a 37 year old man looking to meet women between the ages of 28 and 35.
View Profile
Cruisingoldie
I'm a 46 year old man looking to meet women between the ages of 30 and 50.
View Profile
tigercat
I'm a 54 year old man looking to meet women between the ages of 22 and 54.
View Profile
happymaker66
I'm a 48 year old man looking to meet women between the ages of 25 and 45.
View Profile
cloudhopper
I'm a 56 year old man looking to meet women between the ages of 45 and 55.
View Profile
TheDuke_99
I'm a 36 year old man looking to meet women between the ages of 28 and 42.
View Profile
Boereman
I'm a 52 year old man looking to meet women between the ages of 40 and 52.
View Profile
Stressfree
I'm a 58 year old man looking to meet women between the ages of 42 and 52.
View Profile
CapeLover
I'm a 49 year old man looking to meet women between the ages of 41 and 50.
View Profile
Kent123
I'm a 54 year old man looking to meet women between the ages of 45 and 60.
View Profile
Parmos1
I'm a 64 year old man looking to meet women between the ages of 55 and 63.
View Profile
Liefasb
I'm a 63 year old man looking to meet women between the ages of 50 and 60.
View Profile
heartroll
I'm a 54 year old man looking to meet women between the ages of 49 and 60.
View Profile
IceDad66
I'm a 48 year old man looking to meet women between the ages of 35 and 45.
View Profile
Kawa1000
I'm a 49 year old man looking to meet women between the ages of 40 and 50.
View Profile
DeeeXx
I'm a 31 year old man looking to meet women between the ages of 21 and 32.
View Profile
koolstoof55
I'm a 59 year old man looking to meet women between the ages of 45 and 63.
View Profile
saks001
I'm a 61 year old man looking to meet women between the ages of 49 and 60.
View Profile
MLACOME0147
I'm a 55 year old man looking to meet women between the ages of 49 and 79.
View Profile
thesaltofthesea
I'm a 45 year old man looking to meet women between the ages of 25 and 50.
View Profile
srchinluv
I'm a 52 year old man looking to meet women between the ages of 46 and 65.
View Profile
PerfectGentleman_700
I'm a 36 year old man looking to meet women between the ages of 25 and 39.
View Profile
TheRealPeterPan
I'm a 35 year old man looking to meet women between the ages of 28 and 35.
View Profile
WagOngeduldig
I'm a 41 year old man looking to meet women between the ages of 30 and 45.
View Profile
Summerstorm_007
I'm a 60 year old man looking to meet women between the ages of 48 and 58.
View Profile
longingforu
I'm a 35 year old man looking to meet women between the ages of 18 and 38.
View Profile
Gster1
I'm a 64 year old man looking to meet women between the ages of 45 and 60.
View Profile
thearchitect1
I'm a 46 year old man looking to meet women between the ages of 36 and 70.
View Profile
Carden
I'm a 32 year old man looking to meet women between the ages of 24 and 30.
View Profile
Geard1977
I'm a 37 year old man looking to meet women between the ages of 26 and 40.
View Profile
MysticKitesurfer
I'm a 43 year old man looking to meet women between the ages of 27 and 36.
View Profile
Bushbaby210
I'm a 27 year old man looking to meet women between the ages of 21 and 35.
View Profile
Free_Spirited
I'm a 45 year old man looking to meet women between the ages of 34 and 44.
View Profile
LiveLifeAlways
I'm a 43 year old man looking to meet women between the ages of 33 and 41.
View Profile
arew
I'm a 49 year old man looking to meet women between the ages of 30 and 55.
View Profile
Jurgy62
I'm a 52 year old man looking to meet women between the ages of 37 and 55.
View Profile
TheRisingSun
I'm a 41 year old man looking to meet women between the ages of 25 and 40.
View Profile
LoveFriendFirst123
I'm a 56 year old man looking to meet women between the ages of 50 and 72.
View Profile
letslook
I'm a 46 year old man looking to meet women between the ages of 25 and 45.
View Profile

Business Directory