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Vision

Vision.

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Vision

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  1. Vision “…promoting a transformed, vibrant and globally competitive sector that reflects the demographics of SA, and contributes to the establishment of an equitable society by effectively providing accessible financial services to black people and by directing investment into targeted areas in the economy”

  2. Key Outcomes • Sectoral Transformation strategy • Interventions on targeted areas of the economy • BEE financing strategy • A basis for engagement with stakeholders

  3. Principles • A commitment that is voluntarily developed by the Sector • A transformational framework that establishes mechanisms for BEE • A balanced scorecard approach to measure achievements in broad transformation and BEE objectives • Growth & development of the sector integral to BEE • Provisions subject to sound business principles

  4. Context • Very low levels of black participation • Black senior management accounts for less than 10% • Diminished black ownership in the Sector • Low levels of investments in areas of national priority • Infrastructure, Low income Housing, Black SMEs, BEE Transactions • High number of the un-banked persons • Dismal provision of effective access to financial services and products (LSM 1-5)

  5. HR Development (20) • Building a diverse,non-racial, non-sexist and sustainableintellectual pool • Unquantified commitments to: • Mentorship, Career Path programs • Cultural Diversity and Gender sensitivity programs • Where possible, support Educational Institutions • Skills Audit to be undertaken to identify black skills shortage

  6. Skills Development (5) • Skills spend • Additional skills spend to address black skills shortage • 1.5% of the financial institution's payroll • Learnership programs • Black matriculants up to an equivalent of 4.5% of staff to be enrolled in the 1st learnership cycle • Charter Council to investigate the feasibility of a 2nd learnership cycle

  7. Employment Equity (15) 2008 Employment Equity targets • Black Senior Management from 2002 estimate of 9.9% to a minimum target range of 20% to 25% • Black Middle Management from 2002 estimate of 17% to a minimum of 30% • Black Junior Management from 2002 estimate of 28% to a minimum target range of 40% to 50%

  8. Targets for women • Black Women Senior Management from 2002 estimate of 1.6% to a minimum target of 4% • Black Women Middle Management from 2002 estimate of 5% to a minimum target of 12% • Black Women Junior Management from 2002 estimate of 12% to a minimum target of 15% Black women targets (including exec level) to be reviewed in 2007 but aim for 33% in all categories

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