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Minister Mildred N Oliphant Minister of Labour Mr Sam Morotoba Acting Director-General Submission of the Compensation Fund Annual Report Minister of Labour I have the honour in submitting the Annual Report of the Compensation Fund for the period 1 April 2013 to 31 March 2014. Mr Sam Morotoba Acting Director-General i dd 1 2014/10/14 9 35 AM

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Minister Mildred N OliphantMinister of Labour

Mr Sam MorotobaActing Director-General

Submission of the Compensation Fund Annual ReportMinister of Labour

I have the honour in submitting the Annual Report of the Compensation Fund for the period 1 April 2013 to 31 March 2014.

Mr Sam MorotobaActing Director-General

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TABLE OF CONTENTPART A GENERAL INFORMATION 11. COMPENSATION FUND GENERAL INFORMATION 22. LIST OF ABBREVIATIONS/ACRONYMS 33. FOREWORD BY THE ACTING DIRECTOR-GENERAL 44. COMMISSIONER’S OVERVIEW 65. STATEMENT OF RESPONSIBILITY AND CONFIRMATION OF ACCURACY OF THE

ANNUAL REPORT 96. STRATEGIC OVERVIEW 10

6.1. Vision 106.2. Mission 106.3. Values 106.4. Strategic outcome oriented goals 10

7. LEGISLATIVE AND OTHER MANDATES 137.1. Constitutional mandate 137.2. Legislative mandate 13

8. ORGANISATIONAL STRUCTURE 149. REPORTING FRAMEWORK 1510. MINIMISING CONFLICT OF INTEREST 1511. HEALTH, SAFETY AND ENVIRONMENTAL ISSUES 1512. CODE OF CONDUCT 1613. SOCIAL RESPONSIBILITY 16

PART B PERFORMANCE INFORMATION 171. INTRODUCTION 182. AUDITOR GENERAL’S REPORT: PREDETERMINED OBJECTIVES 183. OVERVIEW OF COMPENSATION FUND’S PERFORMANCE 18

3.1. Service delivery environment 183.2. Overview of the organisational environment 303.3. Revenue 313.4. Payments 323.5. Capital investment, maintenance and asset management plan 32

4. PERFORMANCE INFORMATION BY PROGRAMME 33

PART C GOVERNANCE 731. INTRODUCTION 742. PARLIAMENTARY COMMITTEES 743. EXECUTIVE AUTHORITY 744. THE COMPENSATION BOARD 745. RISK MANAGEMENT 836. INTERNAL CONTROL 847. INTERNAL AUDIT UNIT AND AUDIT COMMITTEE 858. COMPLIANCE WITH LAWS AND REGULATIONS 879. AUDIT COMMITTEE’S REPORT 8710. REPORT OF THE AUDIT COMMITTEE FOR THE PERIOD 2013/14 90

PART D HUMAN RESOURCE MANAGEMENT 951. INTRODUCTION 962. HUMAN RESOURCE OVERSIGHT STATISTICS 98

PART E FINANCIAL INFORMATION 1051. REPORT OF THE AUDITOR-GENERAL 1062. ANNUAL FINANCIAL STATEMENTS 117

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PART A: GENERAL INFORMATION

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1. COMPENSATION FUND GENERAL INFORMATION

REGISTERED NAME:Compensation Fund

PHYSICAL ADDRESS:Compensation HouseCorner Hamilton and Soutpansberg StreetsPretoria

POSTAL ADDRESS: PO Box 955Pretoria0001

TELEPHONE NUMBER:0860 105 350

FAX NUMBER:012 326 1570 / 012 357 1772

EMAIL ADDRESS: [email protected]

WEBSITE ADDRESS: www.labour.gov.za

EXTERNAL AUDITORS:Auditor General of South Africa (AGSA)

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AGSA - Auditor General of South AfricaAPP - Annual Performance PlanBAS - Basic Accounting SystemBCEA - Basic Conditions of Employment Act BUMS - Business Unit Managers (Provincial

Deputy Directors)BUSA - Business Unity South AfricaCCMA - Commission for Conciliation,

Mediation and ArbitrationCC - Compensation CommissionerCF - Compensation FundCRM - Customer Relationship ManagementCS - Corporate Services CFO - Chief Financial OfficerCOO - Chief Operations Officer CIO - Chief Information Officer COIDA - Compensation for Occupational

Injuries and DiseasesDG - Director GeneralDDG - Deputy Director GeneralDEXCOM - Departmental Executive Committee DoL - Department of LabourDPSA - Department of Public Services and

AdministrationDWCP - Decent Work Country Programme EC - Eastern CapeEEA - Employment Equity Act ES - Employment ServicesESSA - Employment Services for South AfricaEPWP - Extended Public Works ProgrammeEXCO - Executive CommitteeFEMA - Federal Employers Mutual AssuranceFS - Free StateGCIS - Government Communication and

Information ServicesHO - Head Office HPCSA - Health Professions Council of South

AfricaHRM - Human Resource Management ICD - Integrated Client DatabaseICM - Integrated Claims ManagementICT - Information and Communication

TechnologyIES - Inspection and Enforcement Services ILO - International Labour Organisation INDS - Integrated National Disability StrategyIVR - Integrated Voice ResponseKZN - KwaZulu-NatalLMIS&P - Labour Market Information and

Statistics

LP - LimpopoLP & IR - Labour Policy and Industrial

RelationsLRA - Labour Relations Act KRA - Key Result AreaMBDC - Medical Billing Document ControlM&E - Monitoring and EvaluationMISS - Minimum Information Security

SystemMOU - Memorandum of UnderstandingMPU - MpumalangaMTSF - Medium-term Strategic Framework MTEF - Medium-term Expenditure

FrameworkNC - Northern CapeNEDLAC - National Economic Development and

Labour CouncilNT - National Treasury ODMWA - Occupational Diseases in Mines and

Works ActOHS - Occupational Health and Safety PD - Permanent DisablementPDP - Personal Development Plan PES - Public Employment Services PFMA - Public Finance Management ActPMO - Project Management OfficePPP - Public Private PartnershipPTSD - Post Traumatic Stress DisorderPWD - People with DisabilitiesQMS - Quality Management SystemRAF - Road Accident FundRMA - Rand Mutual AssuranceRME - Research Monitoring and Evaluation ROE - Return of EarningsSAP - Systems Application and Products in

Data ProcessingSCM - Supply Chain ManagementSDIP - Service Delivery Improvement PlanSEF - Sheltered Employment Factories SMS - Senior Management ServicesSOE - State Owned EnterprisesSP - Strategic PlanSTEFI - Short-term Financial IndexSWOT - Strengths, Weaknesses,

Opportunities and ThreatsTCOID - Technical Committee on

Occupational Injuries and DiseasesTTD - Total Temporary DisablementUIF - Unemployment Insurance FundWC - Western CapeWSP - Work Place Skills Plan

2. LIST OF ABBREVIATIONS/ACRONYMS

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3. FOREWORD BY THE ACTING DIRECTOR- GENERAL

Introduction

The Compensation Fund herewith presents its Annual Report for the 2013/14 financial year in terms of Section 55 (1)(d) of the Public Finance Management Act, No 1 of 1999, (as amended by Act 29 of 1999). The Annual Report sets out how the Fund performed on the achievement of outcomes outlined in the 2013/14 Annual Performance Plan. The Annual Report focuses on information that is collected by the Fund in the course of fulfilling its mandate and implementing government policies. This information is vital in enhancing transparency, accountability and oversight in terms of assessing the value-for-money derived from the Fund’s activities. The information reported in the Annual Report include the actual achievements, financial position and human resources information for the reporting period in relation to the planned targets and budgets as published in the Fund’s Strategic Plan, Annual Performance Plan and budget documents.

High-level overview of the Compensation Fund’s Strategy and its performance

During the year under review, the Fund developed its Annual Performance Plan in order to pursue its objective of providing compensation for disablement caused by occupational injuries or diseases and its vision of being a world-class provider of sustainable compensation for occupational injuries and diseases, rehabilitation and reintegration services.

In improving a high performing workforce, the Compensation Fund recruited a Chief Financial Officer. The process to appoint a Chief Director: Operations Management was also initiated in this financial year.

As directed by the Minister in last year’s budget, the Compensation Fund piloted the Rand Mutual Assurance (RMA) Integrated Claims Management System. The Compensation Fund finalised the process of piloting the RMA Claims Management Processing System to assess its capabilities with the view to determine its functionality. Robust change management and consultations were conducted to keep all stakeholders informed of the pilot project.

Challenges faced by the Compensation Fund

The Fund continues to experience a number of business challenges which have led to an untenable situation resulting in:

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The Fund is still experiencing non-compliance by stakeholders. Stakeholders, such as employers, still submit incomplete information and beneficiaries delay to submit the required documents (banking details, medical reports) resulting in non-payment of compensation benefits. The improvement of the electronic and automated employer declarations and claims processing solutions will resolve some of these challenges. The business processes within the Fund will be simplified, through the introduction of the Smart Forms which will also reduce the administrative burden of employers and other stakeholders, to comply and interact with the Fund.

Fraudulent activities are still negatively affecting the finalisation of employer assessments and the debt book continues to increase. This is due to the fraudulent Letters of Good Standing which were issued, in most cases not in accordance with Compensation Fund policy. To improve governance and risk management, the Fund will put improved internal controls and intelligent audit and risk management systems in place.

Medium- to long-term goals of the Compensation Fund

The Fund has commenced with the implementation of the Turnaround and Modernisation Strategy. Some of the critical initiatives to be undertaken as part of the Strategy include the following:

term Strategic Framework 2014 – 2019

Through the Department of Labour (DoL), the Fund will strive to have an agile and well capacitated ICT organisation which is able to support the current operations and the turnaround initiatives. The Fund will come up with an innovative and flexible sourcing model to provide capacity and services “just in time” and “as and when needed”.

Acknowledgements

I wish to extend my sincere appreciation to staff, management, the Board and the Minister for their unwavering support.

Mr Sam MorotobaActing Director-General

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4. COMMISSIONER’S REPORT

During the financial year under review, the Compensation Fund (Fund) made progress in achieving its objectives, the details of which are outlined as follows:

1. Income and investments

1.1. Assessment revenue

The Fund raised R8.1 billion (* R7.9 billion) assessment revenue, as compared to R5.3 billion (* R6.4 billion) in the previous financial year, an increase of 53 % (* 24%). This increase is due to the introduction of the Return of Earnings (ROE) website that was initiated for employers to submit electronically and no longer submit their ROE manually. This project was successful as over 94,000 (ninety four thousand) employers submitted their returns online.

Notwithstanding the challenges of the downtime and the slowness of the website, the Fund amassed revenue returns of over R8.1 billion and of which R6.4 billion (* R7.2 billion) rand was collected from the employers, a decrease (* an increase) of 68% (* 12.5%) from R3.8 billion (* R6.4 billion) that was collected in the preceding year.

1.2. Investment revenue

Due to the massive increase of revenue, the Fund had to investment over R1.6 billion (* R4.7 billion) in cash with the Public Investment Corporation (PIC). The net investment income for both the PIC and ABSA (the Fund’s banker) was R4.1 billion (* R1.7 billion) compared to R3.1 billion (* R4.1 billion) the previous years, denoting a decrease of 32% (* 141%) as a result of fair value adjustment.

Overall the total value of assets has increased by R8.1 billion (* R6.1 billion) from R32.7 billion (* R35.3 billion) to R40.8 billion (* R41.4 billion), a 25% (* 17%) increase.

The total surplus for the year increased (* decreased) by 360% (* 50%) from R2 billion (* R8.1 billion) to R9.2 billion (* R4.1 billion) and the accumulated surplus is R23.4 billion (* R26.4 billion). The Fund is fully funded and is in a sound financial position as at 31 March 2014.

2. Compensation claims

Claims incurred for the year amounted to R2 billion (R2.4 billion: 2012) (* R2.7 billion) (* R1.9 billion: 2013), a decrease of 2% (* an increase of 42%). This is merely attributed to the SAP ICM system which posed serious challenges since its inception in 1 October 2011. There was a marginal increase (*decrease) in processing of permanent disability which moved from R79 million (* R89 million) to R118 million (* R87 million).

In order to address the backlog of processing medical claims, the Fund acquired services of EOH medical solutions to electronically process medical claims. Since this project started in December 2012 over 500 million medical claims were paid.

* Subsequent to the receipt of the audit opinion from the AGSA, it was discovered that some of the figures in the Annual Report were incorrect. The revised figures and text are indicated with an asterisk in brackets, which

represent the figures that should have been in the Annual Report.

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3. Budget

During the year under review the Fund spent 98% (* 79%) budget of compensation for employees and 78% (* 41%) of goods and services.

In terms of revenue, the Fund far exceeded its own expectations by 164% (*151%) mark of its target this is really attributable to ROE website.

4. Social security reforms

In an effort to entrench and transform social security in South Africa, the Fund’s board and management undertook a study tour to Germany to familiarise themselves with the mechanisms and requirements for the implementation of a new transformed compensation system in South Africa.

This will support the Fund in its efforts to ensure guaranteed employment, rehabilitation and alternative re-entry programmes in the labour market. The German government is working closely together with the South African government to ensure that the amendments proposed in the Compensation Bill will contribute to the realisation of a better life for all.

5. Challenges

i. In the year under review the Fund was not able to give employers access to information which could assist them to comply.

ii. Due to the current systems the Fund has been using to process and pay claims, the Fund was unable to meet the growing demands of clients. In the same year the Fund was inundated with queries and complaints from workers – who deservedly were unable to access their benefits – and medical service providers – who had resorted to litigation processes in order to have their invoices adjudicated and paid.

iii. It was confirmed that the Fund’s systems and processes are not able to effectively detect and prevent fraud and corrupt activities perpetrated by both officials and service providers.

Despite the Fund’s efforts to communicate it’s services and employee rights to the public, these efforts have been rendered ineffective as a result of these challenges.

6. Achievements

6.1. Umehluko Pilot Project

These challenges did not deter the Fund in achieving its goals. With the support of the Minister of Labour, the Fund successfully piloted a new claims management system called “Umehluko” offered by Rand Mutual Assurance (RMA). RMA is the licensee under COIDA. This system provides for the online submission of accident reports by employers, and medical reports and invoices by medical service providers. It also allows the Fund to electronically adjudicate and pay compensation benefits and refunds to employers.

Employers and medical providers, through this system, can monitor the progress on each claim submitted. We hope that the new system, if successfully implemented, will do away with the challenges of the past.

6.2. Letters of Good Standing

During the year under review the Fund implemented an online system to process Return on Earnings. This system allows all employers that are paid up, to access their Letters of Good Standing on the website. This has enabled prospective businesses to have easy access to documentation required for tender processes by both government and the private sector.

* Subsequent to the receipt of the audit opinion from the AGSA, it was discovered that some of the figures in the Annual Report were incorrect. The revised figures and text are indicated with an asterisk in brackets, which

represent the figures that should have been in the Annual Report.

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6.3. Increased investments

In the same financial year under review, the Fund was able to generate additional reserves in excess of * R4.7 billion through its operations and investment initiatives to such an extent that at the end the financial year the Fund can proudly report reserves to the amount of * R41.4 billion

The Board, in their desire to promote job creation and investment in the South African economy, has set aside R3.8 billion – available through PIC and IDC as institutions of choice – to implement the investment strategy. In addition, the Fund has set aside R500 million, which is equally matched by the UIF, for the provision of government infrastructure. This is in line with government’s commitment to the provision and supply of service delivery infrastructure to the South African population.

6.4. Fraudulent activities

A hotline for the anonymous reporting of fraudulent and corrupt activities has been established. This has led to a decline in fraud and corrupt activities within the Compensation Fund.

7. Conclusion

My sincere appreciation is accorded to the Minister of Labour for her active involvements, encouragement and unwavering support.

I would like to thank the Board who unreservedly contributed to the performance direction of the Fund.

Lastly, to the staff and management, I would like to acknowledge their commitment and unfailing support.

Mr Shadrack MkhontoCompensation Commissioner

* Subsequent to the receipt of the audit opinion from the AGSA, it was discovered that some of the figures in the Annual Report were incorrect. The revised figures and text are indicated with an asterisk in brackets, which

represent the figures that should have been in the Annual Report.

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5. STATEMENT OF RESPONSIBILITY AND CONFIRMATION OF ACCURACY OF THE ANNUAL REPORT

To the best of my knowledge and belief, I confirm the following:

All information and amounts disclosed in the Annual Report is consistent with the Annual Financial Statements audited by the Auditor General. The Annual Report is complete, accurate and is free from any omissions. The Annual Report has been prepared in accordance with the guidelines for annual report as issued by National Treasury.

The Annual Financial Statements (Part E) have been prepared in accordance with the Generally Recognised Accounting Practice standards applicable to public entities. The Accounting Authority is responsible for the preparation of the Annual Financial Statements and for the judgements made in this information.

The Accounting Authority is responsible for establishing and implementing a system of internal control that has been designed to provide reasonable assurance as to the integrity and reliability of the performance information, the human resources information and the Annual Financial Statements. External auditors are engaged to express an independent opinion on the Annual Financial Statements.

In my opinion, the Annual Report fairly reflects the operations, the performance information, the human resource information and the financial affairs of the entity for the financial year ended 31 March 2014.

Mr Sam MorotobaActing Director-General

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6. STRATEGIC OVERVIEW

6.1. Vision

To be a world-class provider of sustainable compensation for occupational injuries and diseases, rehabilitation and re-integration services.

6.2. Mission

Compensation Fund services

6.3. Values

We shall at all times adhere to or live the Batho Pele Principles.

6.4. Strategic outcome oriented goals

Government has agreed on 12 outcomes as the key focus of its work for the period 2009 to 2014. Each outcome has a limited number of measurable high-impact priority outputs and sub-outputs with targets. These 12 outcomes reflect government’s mandate and link up with the 10 Medium-Term Strategic Framework’s (MTSF’s) priorities. There are two outcomes applicable to the Compensation Fund, which formed the basis of its Strategic Plan. The two outcomes identified for the Compensation Fund were:

inclusive citizenship

Based on the two outcomes discussed above, the Compensation Fund has developed four key strategic outcome oriented goals. These outcome oriented goals are priorities which form the basis of the Compensation Fund’s strategic objectives. The strategic outcomes identified will be the results of the Fund’s performance as viewed by the beneficiaries and will be the consequence of achieving the outputs. The table below indicates the alignment of government outcomes, DoL strategic objectives (KRA’s), CF strategic outcomes and CF strategic objectives.

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TABLE 1: THE LINKAGE BETWEEN GOVERNMENT, DoL AND CF STRATEGIC GOALS

GOVERNMENT SERVICE DELIVERY

OUTCOMES

DoL STRATEGIC OBJECTIVES

CF STRATEGIC OUTCOMES

CF STRATEGIC OBJECTIVES

Outcome 4: Decent employment through inclusive economic growth

KRA 3: Protecting vulnerable workers

Participate in government initiatives of creating and sustaining decent employment

Promote policy advocacy

Integration of CF within the comprehensive social security reforms

KRA 5: Strengthening social protection

Improve payment of benefits to the beneficiaries of the Fund

Providing an efficient social safety net

Improve the collection of revenue from employers

Improve financial viability

Outcome 12: An efficient, effective and development oriented public service and an empowered and inclusive citizenship

KRA 8: Strengthening the institutional capacity of the Department

Effective administration of the Fund’s operations

Provide professional, efficient and client orientated human resources

Strengthening corporate governance

Improve corporate support and services

Enhance quality and access to COIDA services and information

TABLE 2: CF STRATEGIC OBJECTIVES AND GOALS FOR 2013 – 2018

STRATEGIC OBJECTIVES STRATEGIC OUTPUTS

Providing an effective social safety net

documentation) within 30 days of receiving an invoice by 2016

Policy Framework by 2014

Provide professional, efficient and client-oriented human resource implementation of Work Skills Development Plan (WSP) by 2016

Wellness Strategy by 2016

a 10% vacancy rate by 2016

2016

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STRATEGIC OBJECTIVES STRATEGIC OUTPUTS

Strengthening corporate governance 2016

(people, process, technology)

annually

Procedures

Integration of the Fund within the comprehensive social security reforms by 2016

five days by 2016

receipt by 2016

Promote policy advocacy

Improve financial viability

financial system to improve payment to 30 days by 2016

Improve corporate support and services March 2013

March 2012

Enhance quality and access to COIDA services and information

information

Fund

in, web, walk-in) by 2016

TABLE 2: CF STRATEGIC OBJECTIVES AND GOALS FOR 2013 – 2018 Continued

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7. LEGISLATIVE AND OTHER MANDATES

7.1. Constitutional mandate

The mandate of the Compensation Fund is derived from Section 27 (1)(c) of the Constitution of the Republic of South Africa. In terms of this Act, all South Africans have a right to social security. The Compensation Fund is mandated to provide social security to all injured and diseased employees.

7.2. Legislative mandate

The Compensation Fund is a Public Entity of the Department of Labour. The Fund administers the Compensation for Occupational Injuries and Diseases Act No 130/1993 as amended by the COIDA 61/1997. The main objective of the Act is to provide compensation for disablement caused by occupational injuries or diseases sustained or contracted by employees, or for death resulting from such injuries or diseases, and provide for matters connected therewith.

The Fund generates its revenue from levies paid by employers, which consists mainly of annual assessments paid by registered employers on a basis of a percentage or fixed rate of the annual earnings of their employees. The COID Act, however, makes provision for a minimum assessment to ensure that the assessment is not less than the administration costs incurred.

The operations of the Compensation Fund are also affected by the following legislation:

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8. ORGANISATIONAL STRUCTURE

Compensation Commissioner

Mr Shadrack Mkhonto

Acting Director

Internal Audit

Mr Siphiwe Zwane

Director

Risk Management

Ms Katlego Mocwiri

Acting Chief

Director

Operations

Tselane

Acting Chief

Mr Johnny Modiba

Principal Legal

Vacant

Chief Director

Corporate Services

Mr Tshepo

Mkomatsidi

Director

Human Resource

Management

Ms Thembi Moleko

Director

Medical Payments

Mr AK Pillay

Director

Communication &

Stakeholders

Ms Hlonitshwa Mpaka

Acting Director

Medical Services

Ms Dolly Nkabinde

Director

Organisational Effectiveness

Mr Simon Nkhabelane

Director

Compensation

Mr Basimane Dingaan

Director

Financial Reporting

Mr Pitsi Moloto

Acting Director

Financial Control

Mr Mandla Dlamini

Acting Director

Supply Chain Management

Ms Nozipho Zama

Director

Client Care

Vacant

Director

Income

Ms Ella Ntshabele

Mr Johnny Modiba

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9. REPORTING FRAMEWORK

10. MINIMISING CONFLICT OF INTEREST

In terms of Chapter 3 of the Public Service Regulations, 2001, designated employees (i.e. members of the Senior Management Service) are required to disclose their registrable interests to their Executive Authorities by 30 April of each year. During the period under review all members of the Senior Management Service (SMS) in the Fund had declared their financial interest as required. In addition, when the Fund procures Goods and Services, all suppliers are required to complete standard bidding documents that require them to disclose any conflict of interest with the Fund or any relationship the members of the bidding company may have with staff employed by the Fund or the State. This information is reviewed during the bid process and any discrepancies noted are managed accordingly.

11. HEALTH, SAFETY AND ENVIRONMENTAL ISSUES

Occupational Health and Safety is dedicated to ensuring that the business risks (operations) across the organisation are identified, evaluated and managed accordingly, and ensure compliance with the OHS Act of 1993 which is enforced by the Department of Labour, corporate governance and other legislation.

The Fund ensured that training of employees on how to handle unsafe environments, took place. It also promoted health and safety awareness among all employees within the organisation. In addition it established precautionary measures to protect employees and the public against potential hazards.

MINISTER OF LABOUR

COMPENSATION COMMISSIONER

AUDIT COMMITTEE

COMPENSATION BOARD

BOARD SUB-COMMITTEES

DIRECTOR GENERAL: LABOUR

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12. CODE OF CONDUCT

Chapter 2 of the Public Service Regulations, 2001 regulates the conduct of Fund staff. The code of conduct acts as a guideline to employees as to what is expected of them from an ethical point of view, both in their individual conduct and in their relationship with others. The purpose of the code of conduct is to enhance professionalism and assist in ensuring confidence in state institutions. During the reporting period the Fund disseminated a copy of the code of conduct through the internal communication channel. The purpose of this was to inform and sensitise staff members about behaviour that is acceptable in the work environment.

13. SOCIAL RESPONSIBILITY

The mandate between PIC and the Fund was concluded and signed off. Over and above the investment initiatives aimed at sustaining the Fund as a going concern, this mandate gives effect to the investment by the Fund in Social Responsibility activities.

The PIC is currently managing two funds for the Compensation Fund, namely, the Compensation Fund (CC) and The Compensation Pension Fund (CP). The Funds are invested at 5% for SRI for CC and 5% for CP. The status at 30 June 2014 was hat there is a total of R1.8 billion of SRI investments in a due diligence phase. These include:

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