Our purpose is to drive Africa’s growth. We are committed to being more than a provider of financial products and services – we are a catalyst for economic change in our countries of operation and we make life better for our fellow Africans by doing the right business the right way. On this page you will find an overview of Standard Bank and why we believe in ‘reporting to society’.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is our home, we drive her growth. We aim to make life better for our fellow Africans by doing the right business, the right way, contributing to the financial wellbeing of our clients, and supporting sustainable and job-creating growth of the economies in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Our reporting to society platform aims to communicate with a broad group of stakeholders about how we approach Environmental, Social and Governance (ESG) processes, and how we impact on the societies, economies and environments in which we operate.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
SEE requires us to take a long-term view, and to assess the positive and negative impacts of every business decision not just for the group, but for the communities in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We have a series of internal policies, procedures and controls in place to ensure that accurate data is provided. Our group social and ethics committee provided oversight of this report. PricewaterhouseCoopers provided limited external assurance on selected performance data in this report, indicated by a (tick), in accordance with the International Standard on Assurance Engagements (ISAE 3000). The scope of the assurance engagement and the statement of assurance are provided in this section.
Download PDFAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We’ve identified seven areas in which we believe we can best achieve our purpose, to drive Africa’s growth, while making a substantial positive impact on society, the economy and the environment.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Financial inclusion supports economic and human development and reduces inequality. Achieving financial inclusion requires that individuals and businesses have access to useful and affordable financial products and services that meet their needs, delivered in a responsible and sustainable way. This includes payments, savings, credit and insurance.
Summary Digital solutions to improve access and affordability Consumer education Providing solutions to encourage people to save and plan for their future financial security Enabling home ownership Insurance Remittance servicesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank adopted health an additional SEE impact area in 2019, in line with SDG 3, to ensure healthy lives and promote well-being for all at all ages, and in recognition that attainment of several other SDGs, including ending poverty and reducing inequalities, depends on improving the health of Africa’s people.
Summary Affordable health and life insurance solutions Provision of medical equipment and infrastructure Corporate social investmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Job creation and enterprise growth drives economic development and alleviates poverty. Standard Bank works with our clients to understand their challenges and priorities, provide them with appropriate financial solutions to support their growth and expansion into new markets, and deliver digital solutions to meet their unique needs. We also provide targeted support to our SME clients, to help them develop their businesses, grow their skills, manage cash flow and access new business opportunities.
Summary Partnering with Africa’s fintech entrepreneurs Standard Bank incubators and enterprise development services Innovative credit solutions Technological solutions for small-scale farmers to improve productivity and access to finance Partnership with UN Women to improve women farmers’ productivity through climate smart agriculture Services tailored for small enterprisesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Improvements to energy, water, transport and telecommunications infrastructure facilitate economic growth and create opportunities for job creation and human development. Crucial public infrastructure, like schools and housing, helps people improve their standards of living and future prospects. Standard Bank works with governments, development finance institutions and other commercial banks to structure and provide appropriate financial solutions to address Africa’s infrastructure gaps.
Summary Energy infrastructure Transport infrastructure Telecommunications infrastructure Sustainable housing School infrastructureAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa’s growth depends on her people having access to quality education, and the promotion of skills training and lifelong learning opportunities in the context of the fourth industrial revolution. Standard Bank supports this in various ways. We work with partners in the education and corporate sectors to address the challenge of affordable and accessible student finance.
Summary Corporate social investment Access to student finance Employee developmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
African economic growth depends on the ability of African governments and businesses to access international investment and value chains. Standard Bank helps facilitate investment and trade flows between African countries, and between African countries and global markets, drawing on our presence in major international markets, our ability to access international pools of capital, our strong client relationships with global multi-nationals, and our strategic partnership with ICBC.
Summary Facilitating investment in Africa Helping African governments and businesses access capital Connecting China and Africa Taking the friction out of trade financeAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is extremely vulnerable to climate change, with major implications for agricultural production, food security, access to water, health and livelihoods. Many parts of the continent are already experiencing increased water stress as a result of prolonged drought, while yields from rain-fed agriculture are declining in many areas.
Summary Managing climate-related risk Sustainable finance Working with businesses and households to implement smallscale green energy solutions Sustainable bond framework Sustainable trade finance UN Principles for Responsible BankingAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank recognises that our core business activities must contribute to the prosperity and wellbeing of the societies and environment in which we operate. This understanding defines our purpose: Africa is our home. We drive her growth, and is supported by sound environmental, social and governance (ESG) management.
This report provides an overview of the groups ESG policies, processes and governance structures in place to support our commitment to doing the right business the right way.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our report highlights how we ensure that a strong ethical culture and appropriate conduct is embedded across the group - reflected in the way in which we treat our clients, suppliers and partners, how we support and develop our people, and how we impact on the societies in which we operate.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
“Around the world, investors, regulators and standard setting bodies are demanding greater transparency about how businesses are managing non-financial risks, particularly those created by climate change. Social expectations about the role and responsibilities of business in general also continue to change. Our business depends on us being a trusted partner to a broad range of stakeholders, including our clients, our regulators, our business partners and the communities in which we operate.”
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
The Standard Bank Group board is responsible for ensuring the Standard Bank Group conducts itself as a responsible, ethical corporate citizen
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s material issues are those that matter most to our key stakeholders and providers of capital, and impact on our ability to create value in the short, medium and long term. Our material issues are informed by the expectations of our stakeholders, and the economic, social and environmental context in which we operate.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Stakeholder engagement is part of our everyday business. We depend on constructive relationships with our diverse stakeholders to achieve our purpose of driving Africa’s growth, understand stakeholder expectations, and help us identify the material issues impacting our business.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Achieving our group purpose and strategy depends on our reputation as a trusted partner across Africa. The group's code of ethics, organisational culture and values determine how we do business and with whom we do business.
How we do business Ethics and values Managing our risks Whistleblowing UN Principles for Responsible Banking Respecting human rights Our approach to tax matters Our approach to procurement Personal Conduct and managing conflicts of interest Market conduct and treating our customers fairly Market abuse controlThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s ESG risk assessment process is based on international best practice. The group adopted an environmental and social risk governance standard and policy in 2018, which set out the principles under which we identify, measure, manage and report on environmental and social (E&S) risk.
Managing our environmental and social risks Managing E&S risk in lending Managing climate risk Reducing our direct environmental footprintThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
There is an increase in opportunities to deliver sustainable and impactful investment expertise to our clients and stakeholders across a broad range of growth themes.
Sustainable finance Sustainable Bond Framework Sustainable trade finance Investment in renewable energy Working with businesses and households to implement smallscale green energy solutionsThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
How our people think and feel about their work correlates directly with how satisfied our clients are, and how successful we are in delivering our strategy and performance aspirations. We strive to create a work environment in which our people feel deeply connected to our purpose, their colleagues and our clients.
Our people Leadership development Employee development Talent attraction and retention Diversity and inclusion Employee wellbeingThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank aims to create shared value through our corporate social investment (CSI) initiatives, addressing social needs in a sustainable manner. Our CSI programme aims to deliver benefits for the communities in which we operate, while enhancing our visibility and reputation, improving our employee experience, and demonstrating our local relevance
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
We understand that the responsible management of environment, health, safety and social responsibility issues is important to our growth, profitability and long-term success. This section provides a selection of our ESG performance data from 2017 – 2019 and a view of our governance policies.
On this page:
This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our 2019 B-BBEE certificate.
Download PDFThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Standard Bank South Africa’s (SBSA) Transformation report provides an overview of the activities that we perform to support economic inclusion and transformation in South Africa. The report is structured according to the elements of the Financial Sector Code (FSC) and covers the initiatives, projects, and strategies we’ve put in place to drive transformation within the bank and the economy.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
“We reflect our commitment to improving societies in our SEE value driver, which drives our strategy and is one of the measures against which we assess our performance.”
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
In 2019 we maintained our Level 1 rating and also improved our score from 111.45 in 2018 to 117.33 in 2019.
The report is structured according to the elements of the Financial Sector Code and covers the initiatives, projects, and strategies that are in place to drive transformation. Our B-BBEE scorecard highlights our performance in 2019.
Standard Bank’s BEE Scorecard 2019 Ownership Management control Skills development Preferential procurement Socioeconomic development and consumer education Empowerment financing and enterprise and supplier development Access to financial servicesThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
More information about the ways in which Standard Bank is impacting on the economies and societies in which we operate.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation. We recognise that broad-based black economic empowerment (BBBEE) is a moral, legal and commercial imperative, crucial to securing a more sustainable growth path for South Africa.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Africa’s informal retail sector, which includes kiosks, spaza shops and open-air markets, transacts primarily in cash. Informal traders are often unbanked or under-banked, lack documented credit history, and have historically been considered an unviable credit risk. This is changing, however.
Standard Bank’s USD4 million (R61 million) investment in Nomanini enables us to offer credit to many small shop owners and other informal retailers across Africa. Nomanini connects informal merchants with distributors via an electronic wallet. Using Nomanini technology, Standard Bank collects and analyses data on the retailers. This enables us to build up a financial profile for every trader, understand their ordering patterns and assess their risk profile for lending. We’re also able to pre-empt their re-stocking needs and send them alerts offering to arrange and underwrite their next order, for example. This can be done via Nomanini or Standard Bank devices supplied to the traders, or by leveraging other existing networks or devices from third parties – whatever fits best in each market. We also offer products such as short-term savings and insurance.
Standard Bank’s commercialised Trader Platform Solution enables informal sector retail traders to apply for stock advance loans in the form of virtual stock (airtime) and physical stock (FMCG). We assess the applications using the Nomanini platform – we analyse 30 days of ‘health and wealth’ trading data, derived from the way in which the traders sell prepaid airtime and other services to their customers. This provides us with appropriate information to make a loan decision.
The loans are provided quickly and digitally, enabling traders to minimise the downtime that would usually be created by stock shortfalls and the need to close shop in order to restock. The solution was launched in Zambia in September 2019, and subsequently in Eswatini and Lesotho in November 2019, and will be launched in several additional African countries in 2020.
The group owns a percentage stake in fintech Merchant Capital, with whom we partner to facilitate lending to small businesses. Merchant Capital offers collateral-free working capital loans to small businesses, incorporating a smart collections model of ‘pay as you trade’, through technology embedded in point of sale machines. Successful applicants receive their finance within 24 to 48 hours. There are no fixed payment terms. A business owner can decide to pay off a loan in three months, or over three years, at the same cost. By having access to a client’s sales, the lender can monitor a client’s monthly revenue and pre-empt any repayment challenges by providing the client with advice and support. By late 2019, Merchant Capital had successfully concluded R200 million in deals. Merchant Capital sees a high rate of returning borrowers, and a default rate of just 2% to 3% of the book.
Agriculture is a major productive sector in African economies and the main contributor to pro-poor growth and poverty reduction, especially in rural areas. The sector is largely subsistence-based. It faces major stresses and shocks caused by environmental degradation and climate change. It is also a major contributor to climate change. Standard Bank aims to work with our clients to increase the profitability and sustainability of Africa’s small-scale farmers, while improving Africa’s food security.
Challenges facing these farmers include lack of funding for the sector, which tends to be informal and fragmented; poor infrastructure; pricing; lack of information; and sale of fake inputs, including fake seeds and fertiliser. Large corporate buyers of agricultural product face uncertainty about the volumes of specific commodities that will be available at harvest, and the risks associated with the application of sub-optimal agricultural processes. Emerging technologies can play a crucial role in helping farmers to manage their costs, improve productivity, and access markets. We are working with our small-scale farming clients to help them make the most of such technologies.
In Uganda, we’re piloting the OneFarm Agri Platform, working with farmers and cooperatives to help them ensure a successful and profitable maize crop. Five cooperatives, 350 farmers, a maize aggregator and a local tech start-up have partnered with us for the pilot. The farms have been GPS-mapped and validated by satellite. Standard Bank has allocated a credit risk limit to each farmer, based on their verified farm size. Sixteen local agents, chosen from the various cooperatives, have received training and smartphones, and are employed to do farmer profiling, manage input distribution and support the farmers. The bank has financed high quality seed and fertilizer, and access to tractor time, for distribution to the farmers. The team has also employed an agronomist to provide training on best practices to the farmers and manage demo farms. We’ve developed monitoring dashboards for each farm, integrating the satellite data. These dashboards ensure potential threats, such as pests and disease, can be detected at an early stage, enabling a quick response and maximising the proportion of the crop that can be successfully harvested. The bank is also working with the farmers to help them access markets/off-takers for their crops, ensuring that they receive a fair price for their produce. Early indications show that the increased access to working capital has enabled farmers to plant additional fields, while access to tractor time has made it easier to cultivate the larger area. Farmers have increased their capacity significantly as a result of this initiative.
In Zambia, we’re helping local farmers keep better track of their crops, make more informed decisions, and engage more effectively with the financing partners, through a digital satellite application. The web- and mobile-based Contour app, developed in partnership with Origin Enterprises Plc (trading under RHIZA), uses agricultural satellite imaging and analysis to give farmers satellite data, crop growth models, soil analysis mapping, independent fertilizer recommendations and weather data. The app is affordable, working out at about USD5.50 per hectare. Farmers can pick the pricing plan which suits their farm, and those who get the app through Stanbic Bank receive it for half price. The information, which is accurate and secure, enables farmers to keep better track of their crops and make more informed decisions, helping them to improve planning, decision making and responsiveness, save money and improve their yields. The bank also benefits, as we can monitor what is happening on the ground, and use this insight to tailor our services according to each farms’ needs.
We are working with UN Women on a programme to empower women by enhancing agricultural productivity and income, through climate smart agriculture – farming methods and commodities that are resilient to climate change. Standard Bank has pledged USD3 million over two years.
The programme is running in Malawi, Nigeria, South Africa and Uganda. It includes a focus on improved weather forecasting, early warning systems, and insurance to help farmers reduce risk.
The programme is being run in partnership with local farmer associations and cooperatives, relevant UN agencies and international aid agencies, national and local governments, local private sector partners and NGOs. The aim is to reach over 50 000 women across the four countries over three years, providing them with entrepreneurial and financial capacities, affordable technology and value addition, and using ICT to increase access to markets and to finance.