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Matters that are material for sustainable value creation

Capricorn Group’s list of material reporting matters was first identified by a diverse internal team in 2016 and was included in the 2016 Integrated Report. In January 2017, the Capricorn Group board and executive team reviewed the material matters, given changes in the external environment, the group’s risk profile, expanded footprint and evolving strategy. The adjusted list was included in the 2017 Integrated Report and up to that point reflected a predominantly internal perspective.

For the 2018 report, the material matters were tested with Capricorn Group’s external stakeholders to achieve the following:

  • to test the material matters for robustness, relevance and gaps
  • to enable the Capricorn Group team to start building and owning relationships with material stakeholders
  • to identify any new stakeholder concerns and expectations or topics for future engagement

Capricorn Group believes that stakeholder engagement is important because it:

  • enables the group to sense the needs of stakeholders and to respond appropriately
  • ensures engagement with stakeholders in a customised, coherent and consistent way across the group
  • enables better planned and more informed policies, programmes and products/services aligned to stakeholder expectations
  • supports the group’s other strategic initiatives
  • positions stakeholder engagement as an enabler of the group’s business success
  • facilitates effective internal collaboration and knowledge sharing about stakeholder interests, needs and positioning
  • communicates the importance that the group places on engaging with its stakeholders

Read more about stakeholder engagement highlights for the year in the BSEC report on page 104.

The main stakeholder groupings for the material matters engagement were identified as:

  • government
  • regulators
  • customers
  • employees
  • media
  • analysts
  • shareholders
  • strategic alliances
  • suppliers
  • communities

Engagement with stakeholders took the form of individual interviews, focus groups and an online survey which were undertaken in Namibia, Botswana and Zambia, the countries in which the group operates.

Feedback indicated that all the matters identified by Capricorn Group are also material to stakeholders. The engagement highlighted different areas of emphasis within the scope of the material matters, which were applied to the refined list and submitted to the Group board. The material matters were approved by the board in January 2018 with recognition that non-performing loans and credit risk are emerging issues for the group. The material matters for 2018 are:

  1. Meeting individual customer needs and expectations
  2. Fintech, insurtech and evolving digital assets
  3. Demands for specialist skills driving focused development, training and diversity initiatives
  4. Liquidity, credit risk and regional economic growth prospects
  5. Mitigating financial crime, corruption and fraud
  6. Environmental, social and governance challenges
  7. Enhancing and optimising management and operational systems
  8. Responding to a changing regulatory and operating landscape

The group’s key risk indicator dashboard provides data to measure aspects of the material matters.

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