Sustainability at Afrasia
This Integrated Report should be read in conjunction with our Sustainability Report which is available online on our website. The Sustainability Report has in-depth information about our sustainability strategy and performance.
SUSTAINABILITY STRATEGY
Our Sustainability Journey started way back in 2015 with our first reporting to the United Nations Global Compact. A commitment which we have upheld continuously since then.
As one of the pillars of AfrAsia’s “Bank Different” philosophy, sustainability is steadily being integrated in the Bank’s culture. The pursuit of sustainable practices is an ongoing process, which is being advocated by the sustainability champions of the Bank.
Our 2021 Strategy is based on the 4 pillars of Sustainability, which is further developed into 6 core focus areas:
Last year we conducted a Materiality Assessment exercise through which we engaged with our key stakeholders on sustainability topics. The main takeaway from this assessment was the increase in training hours and revamped training types.
Going forward, for this financial year, two main findings of the materiality assessment will be addressed:
- Ethics and Compliance
- Greening of the supply chain.
Additionally, another materiality assessment will also be conducted beginning of next year with more emphasis on workshops and debriefing sessions with the stakeholders.
The sustainability department will also work on setting quantitative targets on selected Key Performance Indicators in order to measure our progress in regards to the different initiatives undertaken.
OVERVIEW OF OUR 4 PILLARS OF SUSTAINABILITY
Pillars
Workplace Responsibility (Human Capital)
Summary
Our employees are our most valuable stakeholders and our best asset. AfrAsia continues to take positive steps to become an “Employer of Choice”.
Main Initiatives
Our HR department has put in place various initiatives to cater for the talents at AfrAsia.
1. Attract
- Interesting financial and non-financial benefits e.g. competitive remuneration packages, Flexible working hours, Housing Loans, Car/Personal Loans at interesting interest rates
2. Develop
- Develop Revamping of our training programmes including implementation of e-learning platform on our Oracle HCM system
3. Retain
- Internal Promotions of high performers
- Additional support for under performance
- Contribution to wellness activities like yoga, Zumba
- Birthday gift for staff
4. Grievance policy for employees to raise their concerns.
We also have a robust health & safety committee headed by the Safety & Health Officer that ensures that our offices enjoy a safe and healthy environment.
Additionally, our DARE culture is another way through which we engage with our employees including integration of DARE culture in staff KPIs, Dragons Den initiative amongst others.
Key Performance Indicators FY 18-19 only
All KPIs relates to Bank Employees only.
Total Headcount: 402
| Types of Contract | FY18-19 |
| Contractual Long Term | 21 |
| Contractual Short Term | 7 |
| Part Time | 1 |
| Permanent | 373 |
% employees attending at least 1 training: 100
Total hours of training: 15,600
Average hours of training:
a. Per employee: 39
b. Per female employee: 32
c. Per male employee: 39
MUR spent in training: 10,000,000
4 ex-employees were recruited by the Bank.
Turnover rate (*Full time employee only): 8.97%
33 high performers were promoted
| FY 18 - 19 |
| 11 Grievances |
| 18 Written warnings |
| 17 Disciplinary Actions |
| 3 resignations |
4 meetings of the committee throughout the year
1 accident reported at the workplace
Pillars
Marketplace Responsibility (Financial Capital, Manufactured Capital, Intellectual Capital)
Summary
The marketplace responsibility pillar demonstrates how we, at AfrAsia, manage our relationship with our customers, suppliers and business partners. We also ensure that high ethical standards are maintained across our business, which is critical for the Bank’s reputation.
Main Initiatives
This is a developing pillar with the following initiatives being undertaken by the Bank:
- Green Finance – Collaboration with external agency and development of our in-house green financial product in progress.
- AfrAsia wishes to position itself as a sustainable brand though the organization of the AfrAsia Bank Sustainability Summit and ABSS Breakfast Meet 2019 in Johannesburg.
- Our Oracle HCM system went live as part of its phase 2 with additional modules on recruitment, learning, talent, succession, Compensation, and benefits being deployed on the cloud.
- Quantum upgrade, which is an update of the treasury core system.
- The Internet Banking platform accessible to all Bank’s clients. Internet Banking is linked to our “Bank Different” Strategy and part of our digital transformation journey.
- Ethical Behaviour and Compliance – Provision of training to our employees and due diligence process of our potential business partners.
- IT security – several initiatives including training for employees, data classification and phishing tests undertaken to ensure that our clients, employees and partners’ sensitive data are protected
- Heritage site – In line with the SDG 11, we continue in our efforts to safeguard and preserve our head office in Port-Louis, a historic building dating back to 1879.
Key Performance Indicators FY 18-19 only
Total number of Transactions completed on our Internet Banking Platform: 181,376
| FY18-19 | |
| Total Number Of IB Customers Registered Between Dates | 3,095 |
| Total Number Of Personal Internet Banking Customers Registered Between Dates | 1,003 |
| Total Number Of Corporate Internet Banking Customers Registered Between Dates | 2,092 |
| Total Number Of Internet Banking Customers | 21,124 |
| Total Number Of Personal Internet Banking Customers | 8,423 |
| Total Number Of Corporate Internet Banking Customers | 12,700 |
8 training sessions offered by Compliance department
| Training | Completion Rates |
| Security Awareness Fundamentals on the basics of security | 78 |
| GDPR Awareness Training | 93 |
| Safe Web Browsing | 78 |
Last phishing campaign has a victim rate of 1.3% (4 staff out of 303 targeted) against the industry average of 26%.
Pillars
Environmental Responsibility (Natural Capital)
Summary
Management of our natural resources is of up most importance for the Bank. We wish to steadily integrate environmental consciousness in everything we do.
Main Initiatives
- Electricity – monitoring of our electricity usage at the Ebene Office on a monthly basis to investigate any irregular and abnormal peak in consumption.
- Waste Management – We are currently reviewing our waste strategy for the entire Bank. E-waste is responsibly disposed through an external third party, BEM Recycling.
- Paper saving initiatives have been implemented at the Bank e.g. promotion of E-statements, Eadvice.
- Our DARE team will promote sustainability concept for every event /initiative organised.
- Sourcing policy – work in progress with our sustainability policy to integrate means to assess suppliers on their environmental practices.
- Radio Frequency Identification Technology system has been implemented to achieve efficiency in asset and inventory management.
Key Performance Indicators FY 18-19 only
Total Electricity Consumption: 515,882 kWh
Average yearly consumption per employee: 1271 kWh 4,281 Reams of paper purchased
285.64 Kg E-waste Recycled by BEM Recycling
Pillars
Social Responsibility (Social & Relationship Capital)
Summary
Our ability to sustain strong relationships with customers and the wider community is vital for the Bank. Our approach to this pillar is divided into three main categories:
- AfrAsia Foundation (as the basis for our Corporate Social Responsibility Commitment)
- Engaging with our various stakeholders
- Customer Experience
Main Initiatives
- AfrAsia Foundation has 3 pillars through which various projects are developed:
- Education – AfrAsia School with 44 beneficiaries. Various initiatives have been implemented for the AfrAsia Kids including a health care and food support program.
- Health awareness campaign – Movember, Blood Donation, Collaboration with Link to Life.
- Environment – AfrAsia Think Green Program which includes Promotion of awareness through collaboration with NGO “Reef Conservation “Greening of AfrAsia School is a project currently under development as well as a programme to promote awareness on environmental issues.
- Customer Experience – We have a robust complaint process for our customers that allow us to engage and learn from them.
- Engagement with our various stakeholders through several channels: Awareness workshops, Emails, Social Media, Reports, Participation in the Voluntary National Review development.
Key Performance Indicators FY 18-19 only
44 AfrAsia Kids are enrolled in the Early Childhood and After School Programme
41 Families in the Parent Support Programme
69 staff participated in “Sponsor an AfrAsiaKid Programme”
MUR 43,648.70 donations received for Wish Tree Initiative
MUR 474,500 raised for Movember Initiative which was donated to Link to Life 126 pints of blood collected for annual blood donation campaign
3 fun days organized for children fighting cancer in collaboration with the NGO Link to Life and volunteers from AfrAsia
Zero Complaint in January
More information can be found online in our sustainability report.
Should you need a paper copy of AfrAsia Bank’s Sustainability Report 2019, please contact the Corporate Sustainability & CSR Team at This email address is being protected from spambots. You need JavaScript enabled to view it. or via phone (+230) 403 5500. You may also contact us via post [4th Floor NeXTeracom Tower III / Ebene 72201 / Mauritius]. You are requested to provide your full name and full postal address.