We are committed to creating value and achieving our strategic goals by efficiently utilising our resources (capitals) through our business activities. Our aim is to operate responsibly and sustainably, ensuring that value creation is maximised while minimising any negative impacts.

However, we also recognise that there are instances where value may be diminished as a result of our activities. To address this, we carefully consider the trade-offs between our different capitals when making business decisions. Our focus is on maximising positive outcomes while minimising negative ones, as outlined in our business model.

Strategic trade-offs are essential for our future success. We assess the availability and quality of our capital inputs, strike a balance between short- and long-term objectives, and make tough decisions to create sustainable long-term value.

During the financial year, we faced a significant trade-off decision. We reprioritised some projects, taking a risk based approach, to allocate more resources to the BECS project, which was posing to be more challenging than initially anticipated and therefore impacting negatively on timing. This project is critical to our digitalisation strategy and strengthening digital donor interaction. It is thus critical to ensure successful implementation and reap a return on intended benefits.

While this decision constrained our human resources in the short term, as all efforts were directed towards the BECS project, we believe it will have significant long-term benefits. By sustaining our operations and leveraging technological innovation, we are transforming the SANBS operating model, which will positively impact all the capitals we rely on in the long run.