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Last year’s sustainable development report 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. Feedback from shareholders was that this layout enabled
an easier grasp of the company’s commitment to and achievements in B-BBEE
and therefore, this year’s report follows the same format.
B-BBEE 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. |
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| HIGHLIGHTS |
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Sun International was ranked the 20th 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: |
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| Category |
BEE score target |
SI score |
| Ownership |
20 |
21.7 |
| Management |
10 |
2.4 |
| Employment Equity |
15 |
5.9 |
| Skills Development |
15 |
7.9 |
| Preferential Procurement |
20 |
11.3 |
| Enterprise Development |
15 |
15.0 |
| Socio-economic Development |
5 |
5.0 |
| Overall |
100 |
69.2 |
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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 R30 898 099,
or R3 983 per employee. |
| • |
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, welfare and cultural activities. Initiatives are motivated at
operational level and channelled through this trust. |
| • |
Total CSI investment reaches R26 million: In tackling the many
social development challenges presented by each of the focus
areas, the group invested R26 million in the 2009 financial year. |
| • |
Impact assessment of flagship projects shows high impact: An
externally conducted impact assessment on some of the company’s
flagship projects clearly illustrated the socio-economic impact they
have had on intended beneficiaries. |
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| Since its establishment in
2003, the Trust has
enabled employees to
share in the benefits of
the good performance of
the group, empowering
our people and
encouraging a spirit
of ownership. |
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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 B-BBEE.
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 B-BBEE. 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 B-BBEE 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 Codes 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 B-BBEE 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 4 status by 2010. |
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