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FIRST SOUTH FINANCIAL SERVICES »
Black Economic Empowerment Programme
Empowerment
First South Financial Services is a Black Empowered Company as defined by the Financial Services Charter.
Black Economic Empowerment is defined in the Financial Services Charter as a mechanism aimed at addressing
inequalities and mobilising the energy of all South Africans. MacQuarie First South has a broad-based strategy
that identifies the following four key areas which need to be addressed in its efforts to contrinute toward black
economic empowerment in South Africa:
- Employment equity
- Skills development (education)
- Procurement
- Corporate social investment
The First South Financial Services Group has made significant strides in each of the above areas and we believe
that our continuing efforts will help contribute towards the sustained economic growth, development and social transformation
in South Africa.
Employment equity
"Disparities in the South African workplace resulting from past descriminatory practices
and laws are not only unjust, but also have direct negative implications for economic
efficiency, competitiveness and productivity. It is therefore in the country's long-term
national interests that a broad-based and diverse pool of skills is developed for the sector
to unleash the potential of all South Africans" - Financial Services Charter: clause 5.1
First South has undertaken, in line with the requirements of the FS Charter to:
- Promote a non-racial, non-sexist environment and to enhance cultural diversity and gender sensitivity;
- Invest in human resource development across the full spectrum of skills, with special emphasis on
increasing the participation of black people in skilled, strategic and operational leadership; and
- Invest in and equip current and future leadership with the appropriate knowledge and capacity to enable
them to play a central role in driving the transformation programme.
First South Financial Services scores an A rating in its Financial Service Scorecard
Skills development / education
First South is committed to increasing the diversity of the pool of talent on which financial services
companies can draw upon. The company has established a graduate partnership programme with the University
of the Witwatersrand Foundation ("Wits Foundation"). The programme benefits previously disadvantaged graduates
partaking in either the MBA (Master in Business Administration) or PDM (Postgraduate Diploma in Management)
programmes. This is a one-year, full-time programme and a platform for students wanting to ultimately pursue
the MBA / PDM programmes.
The company follows the criteria guidelines set by the Wits Foundation, ensuring that only candidates who have
passed the onerous admissions criteria are accepted into the programme. An amount of R 300 000 is made available
each year assisting the selected students with tuition fees, textbooks and accomodation fees.
Graduates accepted into any of the above programmes will be assisted with fees, a mentorship programme and an
internship programme with First South and associated companies.
Procurement
First South is committed to supporting small businesses and black entrepreneurial projects. This is currently
being achieved through our sizeable spend in travel, stationery, electrical, security and information technology
expenditure directed at black owned and influenced companies.
Corporate social investment
CSI means projects aimed and primarily at black groups, communities and individuals that have a strong developmental
approahce and contribute towards transformation. CSI projects may include:
- Education - support for community education facilities;
- Training - community training and skills development for the unemployed;
- Development programmes - for youth and target groups;
- Environment - community clean-up projects and food garden initiatives;
- Job creation - job creation projects external to the workforce; and
- Sport - support and developmental projects.
Social responsibility initiatives
Inkwenkwezi Primary School
First South has established a partnership with Inkwenkwezi Primary School in Diepkloof Soweto. This partnership
includes various initiatives, including school and community projects. The company contributes approximately
R200 000 per annum towards this partnership programme.
The Inkwenkwezi Primary School project has the advantage of encompassing most of the elements of a CSI project as
defined in the Charter. This means that a more structured and focussed approach can be applied in the development
of this school and its surrounding areas.
The projects at the school requiring our support are varied and seemingly endless, yet the benefits of each completed
project is immediately recognisable and very gratifying.
In keeping with the view that supporting education at graas roots level has visible and measureable benefits, First South
support the following schools with ad-hoc donations of cash and equipment:
- Paradise Bend Primary School - Lanseria
- Lofentse Girls Secondary School - Soweto
- Wilhelmina Hoskins Primary School - Riverlea
Ethembeni Children's Home
In addition to the inequalities and disparities resulting from the past injustices, further chasms are now being created
by the surge of AIDS, which appears to be affecting the previously disadvantages communities to a greater extent.
First South provides financial support to the Ethembeni Children's Home - a safe haven for abused and abandoned children
with HIV/AIDS.
Raiders Rugby Club
First South provides the Raiders Rugby Club, a Premier League Club of Gauteng Lions Union with a monthly sponsorship
(± R100 000 per annum) enabling it to employ a full-time development Manager responsible for the integration
of educational and life skills initiatives for athlete from disadvantaged communities.
The Raiders Rugby Club was born out of a proud tradition of rugby, with a rich history and origins stretching back over a
100 years. The club's experiences during the first decade of democracy has mirrored that of the country, as it worked very
hard to build a culture of excellence and a home for rugby players truly representative of South Africa.
The Raiders Rugby Club is one of a handful of real, non-racial premier league clubs in South Africa. It's passion for non-racial
rugby is reflected in the many people with blue-chip credentials who have been associated with the club over the last several
years. These include Springboks such as Conrad Jantjes , Gcobani Bobo and Ashwin Willemse. Some of the Lions/Cats/Vodacom Cup
players include Enrico Januarie, Baksteen Nel, Jaco Booysen, Ali Mhlanga, John Daniels and George Makwena.
The club runs its own development programmes for 13 primary and 9 high schools in the greater Soweto area. These programmes
complement their current setup and provide a feeder system to ensure the club's sustained success. In January 2005, the Raiders
Rugby Club launched the Raider's Athletic Club, which is another step in the fulfillment of the club's vision to be a
multi-disciplinary sports club.
[ print version ]
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