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Transformation |
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| Arbour Day |
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This year, our sustainable development
report has consolidated the company’s
input on transformation under a special
section to enable shareholders and other
interested parties to gain a more holistic
view of the company’s commitment and
performance.
BBBEE is a defined and managed focus
area within the company and strategies
are in place to give impetus to specific areas
that have been identified. We constantly
monitor our progress and benchmark
ourselves against best practice both within
the hospitality industry and more broadly
within industry in South Africa generally.
The members of CASA decided in June 2006
to proceed with an industry survey which
would eventually lead to standardised
and verified certification in line with the
prevailing Codes of Good Practice to
effectively measure each casino in line
with BBBEE.
The first stage of the process is now
complete, which involved the identification
of a benchmark of where each casino
currently stands with regard to BBBEE.
EmpowerDex, which was appointed to
conduct this survey on a company specific
basis for each CASA member company, is
still in the process of this evaluation. The
final report would incorporate five phases
of Assessment, Information Solicitation,
Analysis, Review and Reporting.
In February 2007, the latest Codes of
Good Practice for BBBEE was enacted by
Parliament. In June 2007, the Department
of Trade and Industry then issued the
Interpretive Guidelines for the codes
to enable industry to apply the code
consistently and within the spirit of
its intent.
Given the amendments in the codes, and
the degree to which some aspects have changed, it was a challenge to complete
the exercise to at least get an indication of
the BBBEE status within the individual
casinos, although this is the first step in an
ongoing process. This first feedback is a
benchmark of where the industry stands
and it is the agreed intention of CASA for
each casino to achieve a level 5 status
within the next 18 months. |
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Highlights |
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Sun International was ranked the 16th most empowered company of the
Top 200 JSE listed companies in the Financial Survey rating by EmpowerDex. |
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| Score achieved by Sun International in each of the elements of the
BEE scorecard |
| Category |
BEE score target |
SI score |
| Ownership |
20 |
21,7 |
| Management |
10 |
2,2 |
| Employment Equity |
15 |
5,6 |
| Skills Development |
15 |
5,9 |
| Preferential Procurement |
20 |
12,1 |
| Enterprise Development |
15 |
15,0 |
| Socio-economic Development |
5 |
5,0 |
| Overall |
100 |
67,5 |
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Source: EmpowerDex, Financial Mail |
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Eligible employees continue to benefit from the Employee Share Trust
through bi-annual distributions in October and April. Total distribution for
the financial year amounted to some R37 758 233, or R5 115 per employee. |
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Establishment and registration of the Sun International Community
Development Trust: The group’s corporate social investment strategy remains focused
on expenditure in the areas of education, health and welfare and cultural activities.
Initiatives are motivated at operational level and channelled through this Trust. |
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Total CSI investment reaches R28 million: In tackling the many social
development challenges presented by each of the focus areas, the group invested
R28 million in the 2008 financial year. |
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Employee volunteering a success: The group runs different volunteering
programmes in line with its focus areas to encourage a spirit of philanthropy among
employees. Some of the programmes initiated across the group include payroll
giving, participation in the Cansa Shavathon, food and clothes donations and tree
planting on Arbour Day. |
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