Stakeholder relations
Cultivating and preserving robust, trusted relationships with all our stakeholders is fundamental to our objective of creating sustainable value across short, medium and long-term horizons. This importance stems from the fact that our operational impact extends far beyond our immediate commercial partners and customer base.
Our philosophy regarding stakeholder relations is grounded in consistent, proactive and substantive engagement. This approach allows us to identify key concerns, interests and expectations, ensuring that we address these aspects collaboratively.
We recognise that our business growth and ability to provide value to individuals, families, businesses and society at large are intrinsically linked to the strength of our relationships with all stakeholders.
The following principles form the foundation of our stakeholder relations:
- Collaboration and regular interaction with all key stakeholder groups are vital to Blue Label's long-term resilience and success.
- Effective stakeholder engagement goes beyond merely communicating "to" various groups. We emphasise two-way dialogue, as Blue Label views its diverse stakeholders as essential partners in its endeavours.
- Our engagement processes are designed to be both proactive in initiating dialogue and responsive to stakeholders' attempts to engage with us.
- As Blue Label continues to expand, we recognise that stakeholder identification and prioritisation is an ongoing, evolving process.
OUR STAKEHOLDER ENGAGEMENT PROCESS
Blue Label's Stakeholder Engagement Policy, which aligns with the requirements of King IV, outlines our comprehensive approach to communicating and engaging with our stakeholders.
While the Blue Label Board holds ultimate responsibility for stakeholder engagement, the actual process of engaging with stakeholders is decentralised. Each Blue Label Company and business area directly engages with their respective stakeholders and reports regularly to executive management and the Board on these interactions. This structure ensures that Blue Label's various business units take ownership of maintaining impactful relationships that yield mutual benefits.
In the process of identifying and prioritising stakeholders, the Board considers the following criteria:
- Groups, communities, organisations, or sectors that interact with Blue Label or are directly or indirectly affected by Blue Label's activities.
- Groups, organisations, or sectors whose attitudes, decisions, policy positions, or responses have a positive or negative impact on our ability to operate effectively.
We manage stakeholder risks and opportunities through a comprehensive risk assessment, which forms part of our overall Enterprise-wide Risk Management (ERM) process. This approach empowers management to deal effectively with issues and opportunities as they arise, while simultaneously strengthening our stakeholder engagement strategies.
stakeholder engagement matrix
WHY WE ENGAGE
Employees
Our employees are our most valuable asset and the cornerstone of our success. Their diverse skills, experiences and innovative ideas propel our strategy and ensure we achieve our objectives. We engage with our workforce to:
- offer clear strategic guidance;
- keep them informed about Blue Label's ongoing initiatives;
- maintain our status as a preferred employer by fostering a safe, positive and inspiring workplace; and
- actively listen to and address our employees' needs and concerns.
NEEDS AND EXPECTATIONS
- A positive, secure and efficient workspace with adaptable work practices.
- Consistent updates on business performance.
- Opportunities for career growth and progression.
- Robust performance management and recognition systems.
- Support for mental health and well-being.
METHODS OF ENGAGEMENT
- A blend of in-person, written, digital and broadcast communication methods.
- Consistent, direct communication between managers, teams and individuals.
- E-mails and intranet communication.
- Employee events and functions.
- Leadership engagement sessions.
- Specialised training workshops to enhance specific skills.
STRATEGIC OUTCOMES AND RESPONSES
- Teams and workstreams that are more focused, energised and dedicated.
- The office is the preferred environment for productivity, innovation and fostering team spirit and collaboration.
- Increased investment in staff development and training, with a growing number of employees seizing these opportunities.
- A workforce that understands the challenges and opportunities of our business and knows how to contribute to its growth and resilience.
For more information visit Human capital.
WHY WE ENGAGE
Customers and consumers
Our customers purchase our products and services, becoming the main source of our revenue and giving us purpose. To better serve them, we focus on:
- gaining a deeper understanding of their aspirations, businesses and communication needs;
- offering suitable products and value-added services;
- upholding the high service standards that they expect and deserve;
- keeping them informed about product development and
prioritisation; and
- creating products that address their evolving technology needs.
NEEDS AND EXPECTATIONS
- Access to top-tier, innovative and adaptable solutions and services.
- Secure, simple, convenient and efficient mobile transactional services.
METHODS OF ENGAGEMENT
- A fully operational remote customer interaction centre that addresses all customer issues.
- Formal and online face-to-face meetings.
- Customer satisfaction surveys.
- Engagement through social media platforms.
STRATEGIC OUTCOMES AND RESPONSES
Blue Label offers a comprehensive customer relationship management system, self-service options and dedicated sales and technical consultants to enhance customer engagement.
We ensure consistent communication to promptly address any concerns.
stakeholder engagement matrix
WHY WE ENGAGE
Investors
Capital providers are essential for Blue Label's long-term growth.
We are committed to providing current and future shareholders with timely and relevant information, ensuring Blue Label shares are appropriately valued, and effectively managing shareholder expectations and reputational risk.
We actively seek feedback to guide our strategy, business operations and governance practices.
NEEDS AND EXPECTATIONS
- Consistent feedback and timely updates on our prospects and both financial and non-financial performance.
- Achieving sustainable growth by consistently executing our strategy.
- Enhanced clarity on our financial performance.
- Greater insight into our strategy, operations and management.
- Transparent reporting and disclosures.
- Commitment to strong ESG practices.
METHODS OF ENGAGEMENT
- Virtual meetings.
- Annual and interim results announcements and roadshows.
- Annual General Meeting.
- Integrated annual report.
- Meetings with executive and senior management.
- SENS announcements.
- Website.
- E-mail queries.
STRATEGIC OUTCOMES AND RESPONSES
- Ongoing, transparent communication between Blue Label and investors, analysts and portfolio managers.
- Enhanced shareholder insight into our decision-making processes and greater transparency in explaining those decisions.
- Robust capital and liquidity positions to maintain a strong balance sheet.
- Expanded opportunities for direct access to executive management for discussions on decisions, strategies and business approaches.
WHY WE ENGAGE
Regulators
Blue Label prioritises compliance with all statutory, legal and regulatory obligations to maintain ongoing operations and enhance the social acceptance of our products and services, fostering trust with our customers and suppliers. As such, we ensure:
- open, honest and transparent relationships with regulators and policymakers while adhering to all legal and regulatory requirements; and
- the preservation of our various operating licences and minimising operational risks.
NEEDS AND EXPECTATIONS
- An organisation that adheres to all relevant laws, regulations and societal expectations.
- Providing regular updates on the financial health and stability of Blue Label.
METHODS OF ENGAGEMENT
- Involvement in industry and regulatory forums.
- Meetings between management and regulatory bodies.
- Direct discussions with officials.
STRATEGIC OUTCOMES AND RESPONSES
- Adherence to all legal and regulatory obligations.
- Strong relationships with relevant regulators and active collaboration on shared concerns.
- Direct access to top-level executives for prompt resolution of any potential issues.
- A work environment and corporate culture grounded in ethical principles.
stakeholder engagement matrix
WHY WE ENGAGE
Government
We recognise that policies, regulations, decisions and expectations directly impact our business activities, products and strategy. We continually seek opportunities to collaborate and contribute positively, in line with government objectives by:
- reinforcing our social licence to operate;
- building and enhancing relationships with government, both as a partner in national development and as a customer;
- contributing to legislative processes that will influence the economy, our activities and operations;
- actively participating in and supporting the transformation of South Africa and the telecommunications sector; and
- collaborating to drive economic growth and reduce inequality and unemployment.
NEEDS AND EXPECTATIONS
- Overview of Blue Label as a business, including how we can support individuals and contribute to South Africa's economic growth.
- Services that fulfil government needs.
- Participation in governmental development plans and alignment with national priorities.
- Initiatives for job creation.
METHODS OF ENGAGEMENT
- Engaging across multiple platforms with government entities.
- Conducting ad hoc collaborations with national and provincial departments.
- Partnering with various levels of government and agencies to achieve shared goals.
STRATEGIC OUTCOMES AND RESPONSES
- Collaborating with authorities to explore methods for tracing and recovering lost or stolen electricity revenue.
- Partnering with the government on initiatives aimed at reducing youth unemployment and enhancing skills development and training.
- Ensuring alignment between organisational and national plans for projects and initiatives that benefit both parties.
WHY WE ENGAGE
Media
Blue Label uses media channels to promote our products and services, amplify our reach and influence, share our business and investment narratives and engage with the general public. However, the media is not only a communication channel – we respect the media as professionals who have stories to tell and the right to ask questions.
NEEDS AND EXPECTATIONS
- Details on significant advancements in the telecommunications industry, with a focus on Blue Label.
- Insights into Blue Label's impact on the South African economy, including an overview of our products and services.
- Information designed to equip audiences with the knowledge to make well-informed financial choices.
METHODS OF ENGAGEMENT
- Planned and scheduled interactions.
- Impromptu meetings with executive and senior leadership.
- Launch events for Blue Label products and services.
- Interviews with major business media during significant financial reporting periods.
- Daily phone and e-mail responses to media inquiries.
STRATEGIC OUTCOMES AND RESPONSES
- Actively staying informed about internal developments and external factors affecting our operations.
- Consistently engaging with editors from agencies that report on our activities and operations.
- Enhanced awareness among journalists and editors regarding our work and identity.
- Enhanced use of social media for communicating decisions, products and services.
stakeholder engagement matrix
WHY WE ENGAGE
Business partners, merchants and suppliers
Our partners safeguard our reputation and serve as a crucial connection between our customers and Blue Label, playing an essential role in attracting new clients and retaining existing ones. Furthermore:
- they ensure the acquisition of products and services necessary for our operations, maintaining an optimal and timely supply to support our business needs;
- they promote responsible practices throughout our supply chain, focusing on B-BBEE, local procurement, supplier behaviour and environmental impact; and
- they integrate key suppliers into cross-functional teams to provide expertise and guidance during the development of product or service specifications.
NEEDS AND EXPECTATIONS
- Strategies and methods for maintaining business operations during disruptions.
- Updates on amendments to the B-BBEE Codes of Good Practice and modifications to trading arrangements, including procurement systems and enterprise resource planning (ERP).
- Aligning with brands that consistently fulfil their commitments.
METHODS OF ENGAGEMENT
- Supplier education sessions, conferences and trade shows.
- Individual negotiations and meetings.
STRATEGIC OUTCOMES AND RESPONSES
- Ensuring the continuous availability of our essential offerings – airtime, data, electricity and financial services - during disruptions, disasters, social unrest, or pandemics.
- Establishing mutually beneficial strategic partnerships with those who facilitate the delivery of our products and help us expand our reach.
- Effective management and fulfilment of service-level agreements.
- Streamlining tools and processes to quickly resolve issues.
WHY WE ENGAGE
Society
We extend our efforts beyond our operations, dedicating ourselves to driving socio-economic development that creates lasting and meaningful change for communities. We are committed to not just meeting but surpassing society's expectations of us as a responsible corporate citizen. Our value proposition is rooted in supporting projects and causes that resonate deeply with our investors and employees.
NEEDS AND EXPECTATIONS
- Providing support and assistance to communities.
- Promoting skills development and creating employment opportunities.
- Upholding responsible and ethical business practices.
- Fostering sustainable community growth and local economic development.
- Leading in entrepreneurship with digital innovation to enhance financial inclusion.
- Addressing climate change and ensuring transparency in environmental disclosures.
METHODS OF ENGAGEMENT
- Collaborating with NGOs and community organisations to tackle shared challenges.
- Direct engagement with community leaders to identify effective interventions.
- Initiating community projects and campaigns.
- Providing thought leadership.
- Publishing annual reports.
- Supporting the Trust Blu Foundation's positive impact.
- Promoting employee volunteerism and organising donation drives.
STRATEGIC OUTCOMES AND RESPONSES
- Creating opportunities for active engagement with communities during natural disasters, pandemics and other crises.
- Enhancing support and involvement in advocating for and implementing government policies that drive inclusive growth.
- Ensuring clear and strategic execution of local economic development, community development and socio-economic development (SED) programmes.