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Corporate Social Investment
Sasria recognizes that it does not exist in isolation, it is part of a community and thus being a responsible and caring citizen is at the heart of its operation. Therefore it is incumbent on Sasria to promote opportunities for social and economic development in the community in which it operates. At the core of Sasria’s sustainability is the promotion of the fast tracking of equity by assisting the process of the inclusion of the previously disadvantaged within the insurance and financial sector. Sasria has been contributing 1% of its after tax profit to Socially Responsible projects for the past eight (8) years, in the 2010 financial year Sasria’s Social Responsibility contribution was increased to 2%.
Sasria is committed to corporate social investment
Sasria has identified a need to broaden its CSI initiatives for the benefit of the insurance industry, the financial sector, and country as a whole. The key purpose for the CSI initiatives is to contribute to the national development of skills and thereby assisting the Government in addressing shortage of skills.
For eight (8) years Sasria’s Corporate Social Investment (CSI) has been focused on the development of actuarial skills. Sasria established an actuarial development program in 2003 (The South African Actuaries Development Program - SAADP), the primary aim of this program is to unearth and harness mathematical and analytical skills amongst black students in order to expose and help them to capitalise on career opportunities in the field of Actuarial Science. To date seventy one (71) students have graduated and 6 qualified as actuaries since inception, all graduates are employed on a full time basis within the financial sector.
In 2009 Sasria has partnered with the University of Johannesburg (UJ) and established a Math and Science centre in Soweto, the institution is aimed at developing teachers to raise the standards of teaching maths and science particularly within the black community. The second focus area is the provision of extra curriculum tuition to students within the said community. This partnership has resulted in an increase in learners reached ie from 200 – 600.
In 2011 Sasria has also partnered with SCI-BONO through the Gauteng Department of Education (GDE) in implementing one of the department’s strategic priorities ie Gauteng Maths, Science and Technology Education Strategy and the Gauteng Provincial Literacy and Numeracy Strategy. Through this partnership Sasria is involved in four key projects that are focused on improving the maths and science skills within the Gauteng province. The projects with SCI-BONO are focused on: providing extra maths and science classes through a mobile lab that reaches about 26 schools in rotation; extra maths and science classes in the afternoons, weekend and holidays, about 12000 learners are reached per week in 15 districts; provides supplementary tuition on all subjects to Grade 12 learners every Saturday and school holidays; improving awareness of the careers within the financial sector.
Following the presidents January 08 speech where corporate were called to participate in the national skills development by providing funds to previously disadvantaged learners, Sasria responded and extended 10 bursaries to students studying towards qualifications in the finance faculty.
Sasria has invested in infrastructure development in order to improve the conditions under which learners are being taught as well as leadership development in poor performing schools. To date two schools have been renovated ie Enkangala primary school in Dayveton and Dan Pharasi School in Etwata.
