|Relevant material matters||Focus areas|
Waco International recognises the need for businesses to be active role players in society and to identify opportunities within their means to share value with a broad group of stakeholders. Group operations and employees are encouraged to participate in social investment activities.
Waco International invested R16.7 million in social upliftment projects, as detailed in the table below.
|CSI Projects||R15.2 million||R6.2 million||R0.9 million|
|ABET||R0.7 million||R1.2 million||R0.8 million|
|Waco International Charitable Foundation||R0.8 million||R0.9 million||R0.7 million|
Waco Africa offers its employees an ABET programme which aims to improve basic literacy and numeracy skills. At the beginning of the year 122 employees were enrolled in the ABET programme. Of these, 59 employees were deemed ready to write the exams, of whom 55 passed. The remaining four who were on the threshold and the 63 who were not yet ready for the exam will remain on the programme in 2018, and will be joined by 17 new enrolments.
Free use of modular units to a number of schools, colleges and religious institutes (R475k)
Toilets, cleaning and hygiene services to schools, creches and informal settlements (R215k)
Various initiatives such as “Ride for Change”, “Lesotho Mountain Ride Challenge” and “Round Table Umhlanga” (R185k)
Growing Up Africa – agreement to donate services and use of equipment to the value of R14.3 million
Waco International Charitable Foundation
The foundation oversees an education fund that was established in 2007 with a donation from management to provide the children of permanent full-time employees with tertiary education bursaries. The bursaries are awarded according to financial need and academic excellence. The fund focuses on courses of study aligned with its business activities as the bursars are encouraged to work for the Group after completing their studies.
Since its inception in 2007, the education fund has awarded bursaries valued at R4.3 million to the benefit of more than 100 students.
Waco International will continue to support the upliftment of local communities by focusing on CSI initiatives to address socioeconomic challenges in the communities in which it works.