| SUSTAINABILITY REPORT (CONTINUED) |
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| Stakeholders |
| Brait recognises the importance of building and cementing long-term
reciprocal relationships with our stakeholders and views this as integral
to the success of our business. Our direct stakeholders are
shareowners, clients, investors, employees, suppliers, government and
regulators, whilst our indirect stakeholders include the communities in
which we operate encompassing the education fraternity which serves
as a source of future employees of the group. All our stakeholders play
a key role in the sustained success of Brait's business and we regularly
engage and consult with them. Brait is committed to creating wealth
and adding value for all our stakeholders, and further strengthening
our relationship with them. |
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| Shareowners and providers of capital |
| Shareowners are our providers of capital and their key performance
measures are the achievement of superior long-term sustainable
growth in earnings and dividends, and the consistent demonstration of
exceptional returns on shareowners' equity. The past year has seen the
group meet and exceed these performance measures with a significant
increase in earnings, and the declaration of a total dividend of
18,24 US cents per share to shareowners. ROE on a performance
scorecard basis improved to 45,9%, exceeding our target of 20%. The
group's risk exposure has been conservatively managed and the longterm
nature of our private equity business and the good standing of
our client franchise are still intact. |
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| Clients |
| We view our clients as partners and work hand in hand with them
in the creation of shared value. They are key to the long-term
sustainability of our business. Our approach and objectives fit those of
our clients. In fostering long-term and mutually beneficial relationships
with them, we go the extra mile and respond quickly and innovatively
to their needs. Clients appreciate our integrated multi-disciplinary
service offering, and our enthusiasm to co-invest with them in support
of our advice and ideas. |
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| Investors |
| We have an obligation to our investors to deliver superior returns and,
as a result, our ability to find and convert opportunities into financial
reward provides our investors in funds under management with a
balance of risk/return profile with consistent and sustainable returns
and earnings that they are unlikely to achieve themselves, or within our
peer group. Brait has committed itself to stringent standards of
reporting transparency and disclosure. This practice is followed not only
for shareowners, but also at client and investor levels. Investors in our
private equity funds receive regular, transparent and comprehensive
reporting disclosure in regard to their investments. They are
represented on advisory boards and are party to the investment
strategy with regard to these funds. All investments are fully discussed
with our investors at bi-annual meetings. The trust and confidence of
our investors in our private equity team is reflected by the historic
record of growth in Brait's funds under management and their ongoing
participation in Brait's new fund offerings. |
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| Employees |
| The intellectual capital of Brait's employees form the foundation, and
is the key driver behind the success of the group. Recognition of our
employees performance is aligned with the performance of the group.
We are focused on the development of our pool of talented people and
are committed to education and training to improve and extend their
skills. Recruitment and retention of good people is important to the
group, and our human capital base is stable. Employees are treated
with respect and are key partners to the business. |
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| Regulators and other industry bodies |
The group engages proactively in the regulatory
process and pursues opportunities to interact with various regulators.
It engages with all three stock exchanges, on which the group's
shares are listed.
Brait is a full member of the Southern African Venture Capital and
Private Equity Association (SAVCA). The main objective of SAVCA is the
promotion of the venture capital and private equity industry in southern Africa. Over the past five years, Brait has been actively
involved with SAVCA, and has played an integral role in a number of
its key initiatives. Brait is represented on SAVCA's board of directors, its
executive committee, as well as on a number of project subcommittees.
The group also engages with the Micro Finance Regulatory
Council (MFRC) and the Securities Regulation Panel (SRP). |
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| Government and public sector officials |
| During the period under review, Brait has engaged with the South
African Deputy Minister of Finance, who has been most supportive in
terms of the group's efforts to expose international investors to senior
policymakers in government. We have further engaged with the
Department of Public Enterprise, the Department of Trade and Industry,
and other relevant government sectors pertinent to an investor
company's business. |
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| Suppliers |
| Brait is committed to furthering black economic empowerment, and
has procedures in place to substantially increase the company's
procurement from black-owned (shareholding), and black-staffed
enterprises. Suppliers are required to submit their employer and
employee profiles and employment equity strategies. The group is also
dedicated to sourcing suppliers with appropriate environmental
policies in place (re-cycling, environmentally-friendly products, etc). |
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| Communities and social interest groups |
| Brait is committed to assisting less fortunate people in the
communities in which we operate, and to developing human capital.
We recognise that we have a contribution to make in uplifting these
communities. This is primarily facilitated through the activities of the
Brait Foundation, which has a chief objective to promote, nurture
and develop intellectual capital in commercial activities in these
communities and to work in conjunction with academic institutions,
including the granting of educational bursaries for employment
equity candidates. |
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