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FOREWORD: BUILDING AN INCLUSIVE NATION
BUILDING AN INCLUSIVE NATION
We are very proud to present the second Sanlam Gauge research report, compiled from a greatly expanded database. The findings are informative and challenging, highlighting some strong progress, but also placing a spotlight on the work the various sectors of our economy still need to do as we collectively journey towards a truly inclusive, diverse society and economy.
It is prudent for me to remind you, before we get into the findings, why our partners at Sunday Times Business Times, our co-founder Andile Khumalo, and ourselves at Sanlam made the decision to conduct this annual research report. We share a deep passion for our country and continent and we know that for us to achieve our common goals – a thriving, inclusive, equal and robust economy – we must successfully transform and include. Not for a scorecard, not for a certificate, but for the sustainability of our country.
We need to do it for all those people still struggling to make ends meet, still living in informal housing, still fetching their own water. For those unthinkably high numbers of unemployed in our country. The inequality in our society cannot be overlooked; we urgently need to address this as corporate SA.
In order to accelerate transformation and empowerment, we must accurately and meaningfully measure our progress, so this is the first aspect of the work we are doing in the Gauge. The research house Intellidex has worked tirelessly to expand the database and deepen the research at all levels. And then we have to use the findings to improve how we are doing this important transformative work in society. To kick-start dialogue, but far more importantly, to catalyse more impactful and urgent strategies and approaches. Sanlam as a company is embedded deeply in the DNA of the African continent. At times, when many of our competitors were listing on developed market stock exchanges, we always knew that we wanted to keep our listing on this continent. This is where we can make the most meaningful impact, working towards financial inclusion – which for us means access to those financial instruments which allow people to protect themselves and build financial resilience – across Africa.
Over the past year, we have made very meaningful strides in this journey. A joint venture with MTN across Africa has allowed us to reach more than 14 million people in just a few short months, opening up access to affordable financial vehicles. Similarly, a new venture with Allianz will boost our impact by increasing access to products and driving financial inclusion in key high-growth African markets.
Last year we created the largest black-owned asset manager in South Africa. Asset management is one of the most effective ways to drive inclusion and growth in a country, and so this is a pivotal part of our impact journey too.
When there’s talk about transformation, these are the things that really get us excited.
We remain excited about the possibilities that the Sanlam Gauge presents in terms of giving us the insights, facts and figures as a nation – both the private and public sectors – to course correct, and improve our journey to an inclusive, diverse and financially thriving nation. A nation living with purpose and financial confidence.
PAUL HANRATTY,
SANLAM GROUP CHIEF EXECUTIVE
