Sasol Sustainability Report 2023 - Book - Page 39
INTRODUCTION
SUSTAINABILITY PERFORMANCE AGAINST OUR FOCUS AREAS
GROWING SHARED VALUE 3 SASOL IN SOCIETY
DATA AND ASSURANCE
ANNEXURES
GROWING SHARED VALUE // Sasol in Society // Economic inclusion CONTINUED
Fostering economic growth
The current economic environment characterised by high interest rates and inflation, loadshedding and a market that is still recovering from COVID-19, presents SMEs with numerous challenges, hampering their ability to
generate profits. Many small businesses struggle to secure adequate financing once they have received purchase orders as they do not have the necessary financial records. Sasol introduced various interventions in 2023
to support SMEs. These were aimed at addressing business failures and high levels of unemployment.
1
1
FENCELINE COMMUNITY PROJECT
2
Economic Inclusion
Programmes
2
TRANSPORTER DEVELOPMENT PROGRAMME
3
4
5
FUNDING DIVERSIFICATION PROJECT
Financial Inclusion
Programmes
3D PRINTING
5
EKANDUSTRIA BUSINESS CENTRE
1
partners, 38 SMEs have been onboarded against a target of 35. Thus far, over R1 million has been invested in the
Fenceline Community Project and this will continue into FY24.
2 Launched to assist SMEs in the transport industry with challenges such as regulatory compliance issues, security
concerns, limited access to infrastructure, unstable fuel prices, health and safety risks, this programme will run for a
period up to 18 months informed by the practical application of each entity and mentorship will continue for a period
of up to three years. The first cohort of seven transporters have been onboarded of which three are Women-Owned
and three Youth-Owned. R1,4 million has been invested in FY23 and will continue into the new year and beyond.
3
4
SASOL SME SUSTAINABILITY SUMMIT
1 Set aside opportunities are identified for SMEs and development programmes. In collaboration with various development
POST-INVESTMENT SUPPORT
2
FINANCIAL EXCELLENCE
TURNAROUND SPECIALIST
PITCHING EVENT
In FY23, the range of funding options was broadened providing market friendly solutions for SMEs, which includes
interest free loans and blended commercial deals. This enhances the capabilities of SMEs to fulfil their contractual
obligations effectively and alleviate the burden of early-stage loan repayments, thus fostering growth opportunities.
A dedicated post investment support programme, proactively identifying challenges to trigger relevant financial support
timeously. 16 beneficiaries benefited from one-on-one mentorship programme and seven from an Advisory Board. The
programme support covers strategy review and implementation, leadership development and detailed financial support.
3 We have contracted the South African Institute of Chartered Accountants, as a development partner to launch the
3 Four Youth Owned and an additional two 100% Black-Owned businesses have been taken through a basic skills
development programme focused on 3D printing, hosted at our Sasolburg Incubation Centre. The training programme
covered creative problem solving, critical thinking, project management, design and printing to create 3D models.
During the current financial year, R589 000 has been invested in the 3D Printing phase one programme.
4 The Sasol SME Sustainability Summit is a three-part series of masterclasses through which we aim to demystify
foundation topics within sustainability, renewable energy and the just energy transition and to explore them in
collaboration with key role players in the ecosystem with the intent to identify meaningful opportunities for SME
participation in the emerging energy economy. We realigned our enterprise and supplier development agenda around the
principles of ESG and Sustainable Development Goals which will take place in three parts, each focusing on E, S and the G.
5 In order to improve access to business enablement facilities for SMEs, we are currently supporting a cohort of three
Enterprise development programme, which advocates for and brings awareness to the importance of financial excellence
in running, managing and growing a sustainable business. The programme aims to reach 90 beneficiaries and the
onboarding has kicked off and will run for an initial period of 12 months.
4 A business turn around strategist has been contracted to assist small business to navigate the current complex economic
landscape. This will assist SMEs grappling with financial distress, operational challenges and uncertain futures. A total of
R900 000 was invested to support SMEs.
5 The Founders of the Women-In-Engineering Programme presented their elevator pitches to a panel of judges comprising
of Sasol engineering contractors (EC) Partners and the Sasol Procurement Team. The top three won cash prizes to the
value of R255 000, accessing finance to grow their businesses. The pitching also enabled the founders to be visible to
audience member which created a business opportunity.
internet cafe SMEs located in Ekandustria. Our goal is to enhance the quality of their business offerings by addressing
the current lack of well-functioning internet cafes in the area. To support these entrepreneurs, R1 million has been
invested in Self-powered Mobile Business Centres, powered by batteries and solar energy, ensuring uninterrupted
operation enabling sustainable operations.
SASOL SUSTAINABILITY REPORT 2023
38
