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.
We are a financial services organisation in, for and across Africa.
We operate in 20 African countries and are headquartered in Johannesburg. Our primary listing is on the Johannesburg Stock Exchange (JSE) in South Africa, with a secondary listing in Namibia. Subsidiary banks are listed on exchanges in Kenya, Malawi, Nigeria and Uganda.
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 publish several reports to provide our stakeholders with the information they need to assess our performance.
Our annual integrated report, our primary report, provides a holistic and material assessment of our ability to create value over time. It considers the issues material to maintaining the commercial viability and social relevance required to achieve our strategy in the medium to long term, and covers both our financial performance and material non-financial information.
Our reporting to society platform aims to communicate with a broad group of stakeholders about 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.
Standard Bank is driven by our purpose: ‘Africa is our home, we drive her growth.’ We are an African financial services organisation with a clear understanding of the challenges and opportunities in our countries of operation. We see it as our core job to develop commercially sound ways to address these challenges, thereby accelerating economic growth and human development and making a better life for our fellow Africans.
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.
We recognise that we cannot achieve our purpose ‘Africa is our home, we drive her growth’ without our stakeholders. That’s why we engage with our stakeholders on a regular basis, to understand their concerns, build relationships, and develop partnerships.
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 , 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.
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.
In 2017, we began our journey on impact reporting, identifying the areas of impact that our core business has on the societies in which we operate. Here you will find an overview of the progress made in 2018 in further refining our SEE impact areas.
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.
Our report is structured according to six areas in which we believed that Standard Bank could make a significant positive social, economic and environmental (SEE) impact.
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.
Accessible and convenient digital channels are essential to broaden and deepen financial inclusion across the continent. We’re keenly aware of our responsibility to ensure that our customers have a clear understanding of our products and services, and how to use them cost-effectively. We’re committed to partnering with our customers during difficult times, and endeavour to work with our customers to develop workable solutions when they find themselves struggling to repay their debt.
Summary Enabling home ownership to improve financial inclusion Digital solutions to improve access and affordability Cutting waiting times in branches to serve our customers better Helping customers make informed financial decisions through consumer education Helping our customers save, invest and plan for the future Our diverse transactional channels provide multiple ways to bank Protecting people’s wealth Generating revenues that drive economic growthAn 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.
Micro, small and medium enterprises are key drivers of economic growth and job creation across Africa. But many struggle to move from start-up businesses to sustainable firms with the potential to expand and employ others.
Summary Incubators and training Developing economic opportunities with fintech entrepreneurs in Africa Finance for entrepreneurs to grow their businesses Improving financial access with digital solutions for SMEs Helping businesses to thriveAn 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 works with governments, development finance institutions and other commercial banks to structure and provide appropriate financial solutions to address Africa’s infrastructure gaps, with appropriate risk sharing arrangements.
Inadequate power, water, transport and telecommunications infrastructure inhibits Africa’s economic growth and potential for job creation and human development. The African Development Bank has estimated that Africa needs USD170 billion per year in infrastructure investment.
Summary Investing in renewable energy Financing transport infrastructure to boost trade Expanding telecommunications infrastructure Funding water infrastructure, an increasingly scarce resourceAn 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, including through innovative models such as our Feenix crowd-funding platform in South Africa.
Summary Funding higher education for Africa’s youth Helping young people to enter the workplace Supporting quality schooling Supporting early childhood 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.
Our purpose is to drive Africa’s growth. A core part of our business is to facilitate trade and investment flows between African countries, and between African countries and global markets.
We partner with international investors to connect them to opportunities in Africa, and with African governments, SOEs and businesses to facilitate their access to global capital markets. We helped raise over USD15 billion of finance for our African clients in 2018. We’re also working with African firms, and small enterprises in particular, to improve their access to trade finance.
Summary Expanding African trade to drive Africa’s growth Celebrating our 10-year partnership with ICBC: Growing Africa-China trade and 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.
Standard Bank is a major employer in Africa, employing over 52 147 people. We encourage continuous learning and development to ensure our people are equipped to meet the demands of a rapidly changing, increasingly digital world of work. We invest in training and development at all levels, enabling us to build a strong succession pipeline of future leaders.
Summary Building and retaining local skills and capabilities in our countries of operations Investing in our people Preparing graduates for employment Preparing our people for the future world of workAn 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) policies and outcomes.
This report provides an overview of our ESG practices and performance for 2018.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
Standard Bank is committed to doing the right business the right way, ensuring that our clients are treated fairly and consistently, that we adhere to global and national regulatory and governance standards, and that our decisions and actions are informed by the group’s values and ethics. As per South Africa’s King IV Code of Corporate Governance, we recognise that we are an integral part of the societies in which we operate, dependent on these societies for our licence to operate, and that we are therefore obligated, morally and legally, to act in accordance with what is good for these societies as well as what is good for the bank.
About this report Engaging our stakeholders and determining our material issues Material issues during the reporting period Our value drivers and our material issues What is our ‘SEE impact’ all about?This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
The greatest impact we have as a financial institution is through our financial activities. We have developed a comprehensive framework which will ensure that the group proactively identifies, manages, monitors and embeds environmental and social (E&S) risk management into its lending processes. Standard Bank aims to drive Africa’s growth with minimal negative reputational, social, economic and environmental impact.
Managing E&S risks and opportunities Managing and mitigating indirect environmental and social risk Environmental and social management system Codes, standards and guidelines Climate change risk management Responsible finance Financial instruments to promote positive social and environmental impacts Human rightsThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
Climate change, coupled with the related issue of water scarcity, has emerged as a leading risk for business and society. SBG is working toward better understanding our environmental impacts and the impacts of climate change on our business. In 2018 we continued to invest in the reduction of our direct carbon footprint through energy and water monitoring and savings measures at our head offices and branches.
Our direct environmental performance Operational carbon footprint managementThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
We understand that to become the leading financial services organisation in, for and across Africa, we must contribute to the long-term prosperity of the communities and countries in which we operate, by facilitating inclusive economic growth and social development.
To do this effectively we must ensure our relevance to social needs and our capacity to help advance national objectives. Our vision commits us to contributing to socioeconomic development in a way that is consistent with the nature and size of our operations in the countries we serve.
Valuing our people Diversity and inclusion Growing our peopleThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
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.
Investing in communities Supporting early childhood development Supporting quality schoolingThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
The group social and ethics committee is responsible for ensuring that we act ethically in relation to internal and external stakeholders, and society more broadly.
The committee meets quarterly and includes executive and non-executive directors. Key issues discussed by the committee during 2018 included progress on embedding an ethical culture in Standard Bank; group-wide principles for stakeholder engagement; measures to accelerate gender and racial transformation within South Africa, and gender equity across the group; effectiveness of group policies and processes to minimise instances and support the victims of discrimination and sexual harassment; issues raised by environmental and social rights groups; and employee wellbeing.
Promoting sound governance and integrity Governance structures and accountability Our ethics and values Conduct risk management framework Oversight and assurance Political party fundingThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
We understand that 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 2016 – 2018.
On this page:
This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2018.
Broad-Based Black Economic Empowerment Generic Verification 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.
This 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 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.
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.
Enabling the transformation of South Africa’s economy aligns with our group social, economic and environmental (SEE) value driver which seeks to generate social, economic and environmental value for our stakeholders and society through our core business activities.
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.
Standard Bank’s purpose is ‘Africa is our home, we drive her growth.’ Driving growth means an economy in which every South African, regardless of their race or gender or the social context, can access basic necessities; and an economy in which success and prosperity are the result of hard work and talent, rather than inherited privilege or personal connections. As a corporate citizen with a social responsibility, we are committed to supporting economic growth.
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 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.
Standard Bank’s BEE Scorecard 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.
SSBSA scored 17.62 on the skills development element of the scorecard. This is slightly lower than the score of 18.31 we achieved in 2017, primarily due to spending on the training of unemployed black people being included under CSI rather than skills development, and a delayed start to some of our learnerships.
In 2018, we spent approximately 82% of our total skills development budget on the development of black employees across all levels of the organisation. Approximately 15% was spent at senior and executive management levels.
Standard Bank is committed to the development of leadership skills across the bank. In 2018, 4 920 SBSA employees attended leadership and management development programmes. Almost 75% of these employees were black, and 41% were black African.
We encourage our employees to stay up to date with developments in their various fields of work, to develop their professional skills and where appropriate to pursue additional formal qualifications. The bank offers bursaries to all employees who meet set criteria. We have implemented an online system to facilitate the application process. In many instances our employees pursue specialist qualifications, but we have also seen a significant uptake in post-graduate qualifications, and MBAs in particular. We awarded 1 555 staff bursaries in 2018, valued at approximately R38.1 million.
Standard Bank’s graduate programme provides an entry-point to the corporate world for university graduates. 194 graduates joined the programme in 2018, of whom 91% were black.
We offer learnerships for matriculants and graduates, which provide young people from disadvantaged backgrounds with an opportunity to work in the bank and learn about different aspects of our business. Each learner is assigned a coach, mentor and line manager who are there to provide ongoing support and give the learner as much opportunity as possible to succeed. On completion of the programme (12 to 18 months), participants receive a nationally recognised qualification and where possible, are absorbed into the organisation. In 2018, 815 unemployed people started a learnership or internship programme with the bank, 99% of whom were black, and 87% of whom were black African. At the end of 2018, 64% of learners who completed their learnership were offered additional work opportunities, be it on an internship, fixed-term contract or in a permanent role.
2018 | 2017 | 2016 | |||||||
SBSA leadership training – total number of employees | 4 920 | 3 543 | 2 460 | ||||||
SBSA leadership training – % of black attendees | 74.8 ![]() |
67.5 | 67.0 | ||||||
SBSA leadership training – % of black African attendees | 41.0 | 34.8 | na | ||||||
SBSA learnership/graduate programmes – total number of employees | 1 009 | 924 | 1 037 | ||||||
SBSA graduate programmes – % of black attendees | 91 | 89 | 81 | ||||||
SBSA graduate programmes – % of black African attendees | 75 | 40 | na |
We scored 18.83 out of 19 for preferential procurement. This is a significant improvement against our score of 17.49 out of 19 in 2017 and reflects the bank’s increased investment in procuring from black and black women-owned qualifying suppliers.
We are committed to advancing job creation and economic transformation by opening opportunities in our supply chain to black-owned suppliers and small enterprises. We have revised our preferential procurement and supplier development policy to better support transformation and inclusion within our supply chain. We work with potential and current suppliers to identify appropriate opportunities, and we provide successful candidates with business development support. We also provide suppliers who meet specific criteria with access to finance where needed.
In 2018 SBSA achieved 14.94 out of 15 points for procurement, with 3.90 out of 4 bonus points. We exceeded our internal minimum targets and FSC targets, with the exception of the qualifying small enterprise (QSE) category. Spend with blackowned suppliers has increased over the past three years, from R3.4 billion in 2016, to R4.1 billion in 2017, and R5.1 billion in 2018, in actual rand terms and spend. We have exceeded our target for procurement spend with BBBEE compliant companies. 35% of our procurement spend is with black-owned companies and 22% directed to black women-owned companies. The percentages on the different spend categories is based on weighted spend on the bank’s preferential procurement scorecard.
We are working with suppliers to improve their BBBEE status. We’re in the process of engaging with all our non-BBEEEcompliant suppliers, asking them to provide us with their BBBEE Improvement Plans, detailing their plans to transform their businesses. This consultation is yielding positive results. We’ve also developed a strategy to identify opportunities where procurement spending can be shifted from non-compliant suppliers, who currently constitute 48% of Total Measured Procurement Spend, to black-owned small and medium enterprises (SMEs).
Our efforts to diversify our supply chain include a specific focus on black-owned small and medium enterprises. In 2018, 17% of Total Measured Procurement Spend (TMPS) for preferential procurement initiatives was with black-owned SMEs, and 8% with black women-owned SMEs.
We have pioneered a supplier development programme that aims to improve economic participation of black-owned SMEs into our supply chain, by providing them with business development support services together with tailored financial solutions. The business development support available to participants ranges from coaching and mentoring to technical training. During 2018, 109 suppliers participated in our supplier development programme. 65 of these suppliers received procurement opportunities worth almost R198 million.
The Standard Insurance Limited (SIL) team, which provides a wide range of short-term insurance solutions, is committed to using locally based, black-owned enterprises to service customer claims. We’re growing our stable of black-owned small businesses, from panel beaters and electricians to plumbers and builders, and bringing these small enterprises into our formal supply chains.
In our credit rehabilitation and recoveries (CRR) value chain, procurement from black-owned suppliers
increased from 41% of total spend in 2017, to 48% in 2018. Our CRR team has developed an incubation
programme, which proactively identifies and makes contact with black-owned collections agencies who had
challenges to get onto Standard Bank’s collections panel. These agencies are then invited to participate in
our Supplier Development Programme. The team proactively identifies non-performing suppliers, as part of
its standard supplier performance process. These suppliers are placed on probation. Any black-owned suppliers placed on
probation are invited to participate in the Supplier Development Programme and receive business development support. In
2018, 50% of the black-owned suppliers referred to the Supplier Development Programme improved their performance
and were reinstated on the Credit Rehabilitation and Recoveries panel.
Our efforts to improve the representation of black advocates in matters relating to Standard Bank include a preferential procurement target in respect of our CRR panel, for 40% of all instructions for outsourced matters to be given to black advocates. This was communicated to the attorneys on the CRR panel in May 2018. We have also provided procurement guidelines to align court appearances to the bank’s Financial Sector Code targets for preferential procurement.