Social and development benefits
STRENGTHENING LEGITIMACY AMONG ALL STAKEHOLDERS
Imperial creates value in society through its business activities and the way in which it conducts them, generating both social and economic benefits. This includes the distribution of food and pharmaceuticals into remote areas in Africa, as well as affordable options for car lease and purchase, as well as competitively priced vehicle insurance products. We engage with regulators to understand what controls we need to put in place to ensure compliance and to provide input into regulatory developments, including the sharing of our insights and experience in respect of road safety to assist in developing transport policy. In South Africa, our business activities such as our procurement spending and talent management are geared towards transforming the economy to ensure the meaningful participation of black South Africans, and our ongoing driver training and safety initiatives in the Logistics division aim to secure the safety of our drivers and other road users.
The Ukhamba share scheme is a vehicle through which Imperial's black employees are able to participate in share ownership. At the end of the 2016 financial year, Ukhamba held a net asset value of R1 516 million (2015: R1 958 million) and the net asset value of a tradable A class Ukhamba share was R31,61 (2015: R39,93). Since the over-the-counter listing in November 2013, 10 409 058 A class shares have been traded, realising a total value of R222,6 million.
Over and above our day-to-day business activities, our enterprise development and corporate social investment (CSI) initiatives in South Africa respond to critical social concerns including road safety, education and access to primary healthcare. During the year, the Imperial and Ukhamba Community Development Trust provided six new libraries to public schools primarily in under-privileged township areas, reaching over 23 000 scholars. Johnson & Johnson joined the Unjani Clinics project, providing the funds to expand the network to 35 clinics over the next three years, and in terms of road safety we extended the previous Scholar Patrol Improvement project to include pedestrian safety and we introduced Bongie, Buckle Up Buddy, a fun-loving character to communicate key road safety messages to children.
For detailed information view our Sustainable Development Report 2016.