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ABOUT GIB :: BEE

GIB’S CORRECTIVE POLICY FOR BLACK ECONOMIC EMPOWERMENT, EMPLOYMENT EQUITY AND PROCUREMENT

The GIB Group committed itself to becoming a Black Economic Empowerment (BEE) Group,actively promoting a transformed, vibrant and globally competitive administration that reflects the demographics of South Africa. The following imperatives form the foundation of our BEE initiative:

  • Long-term financial stability and soundness backed by good corporate governance principles.
  • Appropriate and effective access to insurance services by a greater segment of the population.
  • Development of Black strategic and Operational Leadership.
  • Promotion of diverse organisational cultures to reflect the principles of individuality.
  • Increased representation of Black Women and people living with disabilities.
  • Supporting Black Entrepreneurs and firms by providing services and products to the insurance industry.

The GIB Group’s progress in meeting our objectives set for 2010 are:
EMPLOYMENT EQUITY
  Achievement 2004    Target 2006   Target 2010
Board Directors 57% 60% 60%
Management 32.4% 45% 60%
Employees

33%

 45% 60%
PROCUREMENT
  Achievement 2004    Target 2006   Target 2010
Black Influenced 15% 20% 10%
Black Empowered 25% 55% 65%
Black SME’s

4%

 5% 10%

OWNERSHIP & SOCIAL RESPONSIBILITY
  Achievement 2004    Target 2006   Target 2010
Direct Ownership 30% 30% 40%
Social Investment 0.2% 0.5% 0.5%
GIB Financial Services FSP number : 9305
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