INTRODUCTION
Integrated Reporting Theme
REBUILDING OUR FOUNDATION: STRENGTHENING SANBS FOR THE FUTURE
In a constantly changing business landscape, companies face an array of competing pressures, balancing short-term demands with long-term goals. At SANBS, we draw inspiration from our five-year iHEALTh strategy, which keeps us focused in fulfilling our mandate.
iHEALTh strategy, in place from 2019 to 2024 and extended to 2025, embodies our purpose and materialises through strategic projects and initiatives that permeate every aspect of our operations. These initiatives are key to achieving our seven strategic pillars (known as iHEALTh) and, ultimately, living up to our purpose of being trusted to save lives.
Our journey towards ambitious goals has demanded focus and effort. By harnessing the power of our purpose to lead and motivate our people, we have embraced complexities and navigated through challenges, steadfast in delivering on our strategic priorities.
While we have made significant progress, acknowledging the obstacles posed by a challenging external operating environment and delays in the Blood Establishment Computer System (BECS) project, we recognise the importance of discipline, effectiveness and efficiency thereby reinforcing the foundations of SANBS. This introspective approach has uncovered opportunities to streamline operations, enhance efficiency, cut costs, boost productivity, and foster greater collaboration among teams. By addressing these core processes, we can establish a solid and sustainable business for the future, ensuring enduring value for SANBS and all stakeholders. A strong foundation is vital for long-term success, equipping SANBS to weather future challenges and uncertainties.
In embracing the "back to basics" approach, we are reaffirming our commitment to excellence and sustainability, ensuring that our purpose-driven organisation continues to save lives and make a lasting impact on the communities we serve.
About Our Report: Scope and Reporting Boundary
This report is prepared in accordance with the Integrated Reporting Framework of The International Financial Reporting Standards Foundation and provides our stakeholders with a concise and transparent assessment of our ability to achieve our mandate and create sustainable value.
Our integrated report provides our stakeholders (including our employees, regulators and society) with a concise, material and transparent assessment of our governance, strategy and performance for the period 1 April 2022 to 31 March 2023.
Our Approach to Value Creation, Preservation and Erosion
Our integrated report is a demonstration of our value creation story. It aims to provide a balanced and accurate reflection of value creation, preservation and erosion in terms of our strategy, performance, risks, opportunities, trade-offs and future outlook in relation to material financial, economic, social and governance issues. This report primarily addresses how we create value over the short-, medium- and long-term, with a demonstration of the effects on the six capitals (i.e. outcomes) providing our stakeholders with a transparent and holistic view of our business operations.
We are a non-profit organisation mandated to provide blood transfusion and related services. To do this sustainably, we need to use and apply our inputs responsibly and create outputs and outcomes that matter.
Capital available to us
How we use the capital to create value
Our impact and the value we delivered
Value creation, preservation and erosion are the consequences of how we apply and leverage our capitals as part of our strategy execution and are evident in how these capitals change over time. Our value creation process is embedded in our purpose and described in our business model, and integrated into the way we think and make decisions.
VALUE CREATION
We create value by providing trusted blood products and services to the patients we serve at a world class level and innovating new treatments to enhance healthcare.
VALUE PRESERVATION
The Board and Management ensures value preservation by safeguarding stakeholders’ interests and enhancing long-term value through responsible decision-making, taking into account the impact of operations on the environment and communities to maintain future stability.
