The Social, Ethics, and Transformation Committee remains pivotal in facilitating Blue Label in achieving its mission by providing oversight and strategic guidance to both management and the Group. As a statutory committee of the Board, it assists the Board in overseeing Blue Label's corporate citizenship, environmental, social and governance (ESG), sustainability, and ethics. As outlined in its approved terms of reference, the Committee's responsibilities comply with the Companies Act 71 of 2008, as amended, the JSE Listings Requirements, and King IV. It also undertakes additional duties as assigned by the Board.
The Committee has demonstrated proactive engagement in fulfilling its obligations, addressing the escalating disclosure requirements with efficacy. It has executed its oversight functions with unimpeded diligence and is prepared to report on its activities for the financial year ended 31 May 2024.
In accordance with the Act's provisions, the Committee's mandate is to oversee and guide Blue Label's undertakings and initiatives in the following areas:
During the year, the Committee's sustained interaction with management has resulted in the integration of transformation initiatives throughout Blue Label. Our dedication to conducting business responsibly and ethically remains unwavering. Sustainability is not merely a future aspiration; it is intricately woven into the very essence of our mission, aiming to foster financial inclusion, opportunities, and convenience for the mass market. This commitment translates to a profound dedication to supporting vulnerable groups and instigating positive social change within the communities we serve.
We have significantly expanded our initiatives to promote supplier diversity in the current year. We work with 192 exempted micro-enterprises (EMEs), 73 qualifying small enterprises (QSEs), 242 50% black-owned (BO) enterprises and 111 30% black women-owned (BWO) suppliers. This significant increase in supplier engagement provided valuable business opportunities and facilitated economic transformation within these pivotal segments.
Our commitment surpasses the mere awarding of contracts. In the fiscal year 2024, our supplier development funding has directly influenced lives by creating new job opportunities in Dunoworx, a business designed to reduce poverty and create jobs. We consistently explore novel methods to broaden this programme and empower historically disadvantaged communities.
Looking into the future, we remain steadfast in our resolve to continually enhance our efforts toward supplier diversity. Actively pursuing avenues to engage with a wider spectrum of vulnerable groups and fostering collaboration between our diverse supplier network and our flagship beneficiaries are among our foremost priorities. This synergy will generate a ripple effect of positive influence within the communities we serve.
Our social responsibility extends beyond procurement as we take pride in our support for flagship beneficiaries such as Boys and Girls Club, Christel House and Women and Men Against Child Abuse, organisations that are effecting significant change in South Africa. We have worked with these organisations as our partners in development over a number of years to ensure their sustainable impact.
In the current year, we have collaborated with Education Africa in providing online learning opportunities to preschool educators in underserved communities. This initiative empowers educators, fortifies early childhood education and lays the groundwork for a brighter future for both educators and the children under their care.
Enterprise Development is a cornerstone of our commitment to fostering sustainable development within our communities. Partnering with Sizanani exemplifies our dedication this year. By backing infrastructure development, community connectivity, and the provision of solar electricity for 298 households, we are empowering Sizanani to operate effectively and unlock economic opportunities for the entire community in a highly underdeveloped area with high unemployment and poor access to electricity.
We cultivate a culture of philanthropy by promoting employee participation in diverse social responsibility programmes. For instance, our employees have led endeavours to donate Christmas presents and books to children where these celebrated traditions are not within reach.
Recognising our indispensable role in serving our community, we acknowledge the wide-reaching impact of our extensive network of informal market merchants selling our products on local businesses and livelihoods.
In reflecting on 2024 focus areas, we are pleased to confirm that our B-BBEE scorecard is progressing steadily, positioning us to achieve level 4 while continuing our efforts to do better in future.
Notably, we have made significant strides in leadership development, witnessing a substantial rise in programme enrolment and thereby fostering a robust cohort of prospective leaders.
While progress towards our 50/50 gender parity goal by 2026 is underway, we recognise the imperative for sustained efforts in this realm.
Celebrating a milestone, the U-Belong initiative has created job opportunities for 170 learners within Trust Blu.
Furthermore, our commitment to Board diversity is evident in the appointment of another black female director, aligning with our policy objectives and aspirations that the Chairman of the Board had indicated to stakeholders four years ago.
Although attaining our transformation objectives and targets at senior management remains a challenge, we have put in place processes and programmes to attain our aspirations. Implementing a disability learnership programme has been a successful milestone in our planned initiatives for the year.
Looking ahead to 2025, our unwavering focus remains on:
In conclusion, at Blue Label our ethos maintains that success transcends mere financial metrics. We remain steadfast in responsibly, ethically and sustainably conducting business, endeavouring to effect positive change among marginalised groups, drive economic transformation and fortify our communities, progressively bolstering a brighter future for all.
Sincerely,
Chairman
30 September 2024
Blue Label Integrated Annual Report 2024
