AWARDS: SAB Earns the Admiration Of Its Peers
Recent Gauteng Business News
The annual Trust Barometer, conducted by Ask Afrika Pty (Ltd), is based on a peer review of 200 interviews, and measures the perceptions of CEOs, executive committee members and senior managers reporting directly to the executive committees of JSE listed companies. A differentiating factor of the Trust Barometer is that companies who are rated on reputation are mentioned spontaneously by respondents.
In the overall rankings of the most trusted company in the 2010 survey, SAB finished in first place ahead of Standard Bank and Bidvest. In the Sustainability Index, SAB scored a second place finish behind Standard Bank, with MTN completing the top three.
SAB is proud to have taken the top spot for the second consecutive year and has now managed to take the winning position four times since the inception of the research in 2005.
SAB director of Corporate Affairs and Transformation, Vincent Maphai, says: “We are honoured to have received this award which recognizes our goal of seeking to demonstrate leadership in every dimension of our business.
“One of the key elements of our business strategy is to deliver societal leadership. We launched two highly progressive initiatives over the past year, namely a black economic empowerment transaction, called SAB Zenzele, and an alcohol strategy. The award demonstrates that our peers have recognized these and other initiatives, and we are extremely grateful for this.”
The broad-based Zenzele transaction has placed 8.45% of the company’s shares under black ownership and is valued at R7.3-billion. The alcohol strategy, launched in September 2009, is a multi-faceted effort to combat alcohol abuse and its negative effects of society.
“Please accept our heartfelt congratulations on your company’s excellent achievement of being recognised as the most trusted company in South Africa in 2010, achieving a 1st overall ranking and 2nd in the Sustainability Index (financial and environmental) in the most admired and trusted company measurement in South Africa,” said Ask Afrika Managing Director Sarina De Beer.
“What makes this achievement truly outstanding is the fact that the results are based on the recognition that your company received from your peers,” she added.
The companies that are mentioned get rated on their reputation against reputation drivers as set out by the Fortune 500 Most Admired Company Review and the King III Report. The Trust Barometer provides companies with the opportunity to evaluate their reputation against current trends, and determine the impact of these trends on their reputation.
According to Ask Afrika, key reputation drivers of companies include, among others, the ability to attract and retain talented people, quality of management, social responsibility to the community and the environment, quality of products or services, innovativeness, wise use of corporate assets, financial soundness, long-term investment value and Leadership.
With regard to sustainability, considerations include benefits with regard to stakeholders not just shareholders, financial well being, if the company shows a vested interest in the community, as well as their initiatives to reduce their carbon foot print.
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