Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /usr/www/users/hulamxetkz/iar2017/value/social-relationship.php:2) in /usr/www/users/hulamxetkz/iar2017/includes/config.php on line 4 Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /usr/www/users/hulamxetkz/iar2017/value/social-relationship.php:2) in /usr/www/users/hulamxetkz/iar2017/includes/config.php on line 4
Hulamin
Integrated Annual Report 2017
 

SOCIAL, RELATIONSHIP AND INTELLECTUAL CAPITAL

Social and relationship capital encompasses our relationships with communities, groups of stakeholders and other networks.

It incorporates shared values and behaviours and provides us with our social licence to operate. Interaction with key stakeholders, consideration of their concerns and earning their trust are central to maintaining and developing this capital.

A LOOK BACK AT OUR GOALS FOR 2017

THE FOCUS FOR 2018

OUR KEY RELATIONSHIPS

The group recognises that in order to create sustainable value for all it needs to be responsive to the expectations of all stakeholders. To meet the expectations of our stakeholders the group engages in regularly with all stakeholders to establish a relationship of trust and respect to achieve favourable outcomes for all stakeholders on issues of mutual interest.

Further information detailing the expectation of stakeholders and the group’s strategic response thereto is provided here of this report. Additional information can also be found in the Sustainability Report available on our website at www.hulamin.co.za.

INVESTMENT IN OUR COMMUNITIES

Corporate Social Investment (CSI)

The group is steadfast in its vision to make a meaningful contribution to the Pietermaritzburg community. The group recognises that it is situated in a society with enormous challenges and that the group is symbiotically linked to the socio-economic and natural environment in which the company is located. The group is therefore obligated in playing a leadership role in those areas within its sphere of influence.

During the past 12 months the group contributed R2,1 million towards various CSI initiatives.

INVESTMENT IN OUR SUPPLIERS

Preferential procurement

The group promotes the economic empowerment of black South Africans and encourages business relationships with other companies, which actively pursue sound employment equity and black economic empowerment programmes and who will endeavour not only to support the new B-BBEE codes but to actively better their scoring on an ongoing basis.

The group’s intervention programme of preferential procurement is committed to achieving the objectives of growing the economic involvement in mainstream business, on a sustainable basis, of all previously disadvantaged groups. The group promotes the development of black-owned businesses and in particular wholly African-owned entities, or majority African-owned entities, as preferred suppliers, especially those that are both owned, operated by and managed by Africans.

In order to achieve the strategy the group has established an ESD Committee. For further information on the objectives of the committee refer to our Sustainability Report available on our website at www.hulamin.co.za.

The revised B-BBEE codes continue to have an impact on the group’s preferential procurement score as approximately 65% of the group’s total measureable spend is with Isizinda (which although black-owned has no scorecard rating) and South 32 (level 8) for aluminium rolling slab and primary ingot respectively. The group is unable to achieve an acceptable preferential procurement score as almost no points are achieved from these two key entities.

Over the last 12-months the group spent R2,2 billion with B-BBEE enterprises. Within this amount:


Enterprise development

The group’s objective is to facilitate the development of sustainable businesses that will create jobs and add stimulus to the economy. In an effort to achieve this objective the group has implemented strategic objectives which, among other, include:


The various initiatives put in place by the group for enterprise development and supplier development amounted to R10 million committed during the past 12 months.

Click or tap for a larger version of this image