Sasol Report to Society 2020 - Book - Page 50
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The year in review: global impact continued
Economic transformation and local content continued
Identifying and nurturing
entrepreneurial talent
identification, nurturing,
connection and development of
The
entrepreneurs is the first step towards small
businesses development and economic inclusion
of the disadvantaged communities in our
fenceline operations. This includes a
development programme where youth are
introduced to various models to nurture their
entrepreneurial talent, after which they are
assisted on how to develop an idea, register a
business and obtain funding.
Once businesses have been registered and
are functional, further development support
is given to assist with how to operationalise the
business, create networks, transact and obtain
funding for expansion of the business.
The business development model for
Sasol ensures that SMMEs are able to deliver
services and goods to meet community, industry
and societal needs.
It is important for fenceline SMMEs to provide
goods and services which are aligned with
Sasol’s value chain, it is not feasible, nor
sustainable, to trade with all of them.
It is within this context that Sasol supports
SMMEs within our fenceline communities with
grants and funding which is intended to enable
them to grow and thrive in order to create
sustainable economic opportunities and jobs
within our communities.
Our approach to enterprise and supplier development
In 2020 Sasol’s Enterprise and Supplier Development
(ESD) embarked on a journey to re-design its approach to
deliver programmes that are aligned with opportunities within
supply chain and linked to our business strategy.
Qualifying SMMEs have direct access to finance through Sasol
Siyakha Trust, which serves as a vehicle to assist Black-owned
suppliers, enterprises and entrepreneurs with funding to enable
accelerated growth. Supply chain shapes and ensures sustainable
sourcing and delivery of materials, services, and products to
customers internally and externally to achieve Sasol’s strategy
with a focus on shareholders, OMEs, suppliers and customers.
ESD approach is in line with and supports the strategic
pillars of the B-BBEE Codes of Good Practice.
Sasol changed its approach from focusing solely on driving
shareholder value, to driving "shared value" within the
communities we operate in.
Sasol upskills members of our
fenceline communities through
masterclasses, enterprise
development interventions, loans,
grants and training.
Expenditure with Black-owned
enterprises increased to R26,3 billion
and with Black-owned business to
R17,3 billion.
Sasol’s
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Sasol in society: 2020 report
Assisting Black-owned suppliers with
coaching, mentoring and training.
