For a number of years, Sasfin has recognised the importance of ensuring that the socio-economic inequalities which pervade South Africa need to be addressed, and it regards the FSC as an excellent model upon which it based its targets and strategies for the achievement of greater equity within its field of influence.
Sasfin is pleased to note that the FSC has been rejuvenated as a sector code. To ensure objective validation of the process, Sasfin has engaged with an independent approved verification agency not only to provide a scorecard, but also to review progress so that appropriate medium and long-term strategies can be implemented.
The ownership requirements of the generic code remain a challenge because the Banks Act requires regulatory approval for any significant shareholding. Sasfin, however, continues to make good progress in ensuring that its employee demographic profile, its procurement practices and enterprise development initiatives bring real benefits to its stakeholders.
Sasfin has been awarded a SANAS accredited level 6 score, which translates into a BBBEE procurement recognition level of 60%. Sasfin has also been recognised as a value-added supplier.