Transformation

We are a progressive company that:

embraces the values of a non-racial South African society, and
recognises the importance of being active participants in black economic empowerment (BEE).

NOVARE® CSI POLICY STATEMENT

At NOVARE®, being a considerate and dependable citizen is a key component of our business strategy. Investing time, skills and money in improving the quality of life for South Africans is the right thing to do as it means relief from poverty and investment in the community we form part of.

In terms of corporate social investment (CSI), our tranformation goal is to play a role in supporting disavantaged communities and to support programmes that stimulate sustainable development.

Our focus areas are on education, literacy and skills development, entrepreneurship and health and welfare.

OWNERSHIP AND CONTROL

NOVARE® is owned by Nehawu Investment Holdings (26%), the Novare Staff Trust and the Founding Shareholders.

Black representation on the NOVARE® Board of Directors is currently at 66%.

EMPLOYMENT EQUITY

Our policies support employment equity through:

a focus on previously disadvantaged individuals,
a strict recruitment and selection process,
ongoing executive search for talented black professionals to join our team,
extensive training to grow personal and overall skills within the greater team, and
dedicated and real responsibilities.

SKILLS DEVELOPMENT INITIATIVES

We recognise that our people are our greatest asset, and so emphasise the development of staff through training, mentorship, external courses and development programmes.

We are also involved in the the development of trustees to support them in the execution of their fiduciary responsibilities regarding investments. This entails investment training, proactive communication and exposure to investment-related issues.

BEE SCORECARD

NOVARE® Actuaries and Consultants Pty Ltd
BEE Contributor Level 1
Procurement Recognition Level 168.75%

NOVARE® Investments Pty Ltd
BEE Contributor Level 3
Procurement Recognition Level 110.00%

Note: Black Economic Empowerment (BEE) is the process through which previously disadvantaged South Africans are given the opportunity to participate in and benefit from South Africa’s mainstream economy.