Investing in the community
Remgro’s CSI initiatives and donations programme cover a broad spectrum of society and can be summarised as follows:
- Community development
- Cultural development
- Entrepreneurship, training and education
- Sport development
Remgro aims to maintain a CSI spending of approximately 2.5% of its net free cash flow annually. In this regard, an official CSI committee meets regularly to consider and approve grants to institutions in need. Donations to qualifying institutions are made on an annual basis for a specific period and, although such contributions cover a wide range, there are two noticeable exceptions: political parties and religious institutions. Remgro respects its employees’ choice to participate in these institutions, but does not exercise a choice itself.
During the year under review, Remgro’s CSI spend amounted to R26 million (2021: R22 million), as set out in the table below.
|Summary of CSI spend||Year
|Entrepreneurship, training and education||10||8|
Further details regarding Remgro’s CSI initiatives can be found in the detailed Sustainability Report.