Currently viewing: Reporting structure / Next: Key facts

Reporting structure

Approach

This is Blue Label’s third integrated annual report in its integrated reporting journey. In following the recommendations of the King Code of Governance principles for South Africa and the structure set out in the Discussion Paper issued by the International Integrated Reporting Council, Blue Label’s process aims to link material company information with reference to strategy, governance, performance, remuneration and prospects in such a way that our stakeholders obtain a view of the commercial, social and environmental context within which the Group operates. This report contains issues material to our strategy and of interest to our stakeholders. Blue Label has mapped its stakeholders, in particular its relationship with its employees, providers of capital, the media, customers, business partners and suppliers, communities, educational institutions and government bodies. These stakeholder groupings receive more structured engagement processes than other groupings and the level of inclusivity with these stakeholders is correspondingly more integrated into the Group’s strategic thinking (refer to the stakeholder table on pages 45 to 51).

This integrated annual report is the Group’s primary report. It covers Blue Label’s business segments and their financial and operational performance for the financial year ended 31 May 2013. Non-financial and sustainability information is limited to the South African operations. The report aims to provide stakeholders with the means to assess the Group’s ability to create and sustain value over the short, medium and long term.

Reporting framework

Blue Label takes note of the Global Reporting Initiative (GRI) G3 guidelines in terms of its sustainable development reporting process and to facilitate comparability with the reports of other organisations. For this year, Blue Label has not declared a GRI G3 application level, but has rather embarked on a process to determine its transition plan to GRI G4 over the next two years. In addition, this report has been compiled with reference to both King III integrated reporting principles and the Integrated Reporting Council’s draft Integrated Reporting Framework. Blue Label uses a risk-based model, which identifies internal risks and stakeholder issues to determine the material content of the report.

How does Blue Label add value?

Within emerging and developing economies, the supply of products and services via prepaid channels is becoming an increasingly significant distribution model. This is because the distribution of physical product is often logistically difficult, a significant portion of consumers in these markets are unbanked/badly banked and therefore transact in cash, and many do not qualify for credit. Given these limitations, these cash consumers are now demanding equal access to first world products and services.

The Group’s ability to develop and distribute innovative prepaid products and services through its global footprint of touch points has allowed it to “take” first world products and services to these consumers and bridge the “access” gap.

In essence, Blue Label is able to enhance the consumers’ ability to transact conveniently, affordably and with greater accessibility and choice.