Investec awarded for its strategic corporate social investment in 2019

Trialogue conferred its annual Strategic CSI Award on Investec, for its support of Promaths. The programme provides extra maths and science tuition for black learners in grades 10 to 12 at under-resourced schools who show potential to produce results that will enable them to gain entry into scarce skills studies and careers, access funding for tertiary studies and, ultimately, become active economic participants.

Founded in 2005, Promaths is a partnership between Investec, Kutlwanong Maths, Science and Technology Centre, and the Department of Basic Education (DBE). Kutlwanong runs 16 Promaths centres in townships and rural communities in six provinces and is responsible for the recruitment of maths and science teachers and learners who show potential in these subjects; teacher development, including workshops and weekly subject meetings for more than 2 000 teachers; monitoring and evaluation; and assisting learners with career planning. The DBE recommends feeder schools in each of the districts where the programme operates.

Strategic corporate social investment

Since 2014, the Trialogue Strategic CSI Award has recognised projects that exemplify best practice. For corporate social investment (CSI) to be strategic it must have positive developmental impact that is aligned with and contributes to the priorities of the business.

Investec’s support of the programme helped the company receive the full five points for socioeconomic development on the BBBEE Scorecard, contributing to its Level 1 BBBEE rating in 2019. Research shows that the type of employees that the company wants to attract are drawn to businesses that give back to the communities in which they operate, and Investec believes that its commitment to the success of Promaths helps to demonstrate its commitment to the progress of our society. By investing in the success of scarce skills learners, Investec is also ensuring a pipeline of potential employees and clients.

99% pass rate in maths in science for Promaths matric cohort

“Investec funds nine Promaths centres in six provinces and, since the programme’s inception, the company has funded around 7 500 participating learners,” said CSI consultant, Mahlatse Nicolas Mmako, who accepted the award at an event held at Constitution Hill on 27 November.

In 2018 alone, Investec funded 3 960 Promaths learners from 379 schools, 1 176 of whom wrote matric maths and 1 173 of whom wrote matric science exams. Matric results showed substantial

improvements among learners compared to when they first joined the programme in grade 10, in 2016. The Promaths matric cohort’s pass rate in both maths and science in 2018 was 99% – up from 77% in maths and 83% in science in 2016. Promaths learners, including those from non-Investec-funded centres, contributed approximately 7% of the country’s matric distinctions in maths and science.

Read more about the award and judging criteria, the winner, and other commendable projects in the Trialogue Business in Society Handbook 2019, which can be freely downloaded or purchased in hard copy from the Trialogue website: https://trialogue.co.za/publications/

Judging criteria

Trialogue opened the call for entries for the Strategic CSI Award 2019 in April. Companies submit entries for CSI projects that they feel are strategic, using a standard entry form. Each project is judged against its objectives, social benefits and corporate benefits.

2019-12-09T11:48:08+00:00 December 9th, 2019|Business in Society 2019, Featured, Media Insights|