Stakeholder engagement

Overview and reporting requirements

Determining materiality in partnership with our stakeholders

We have determined our material issues in extensive consultation with our stakeholders, while taking into consideration IDC’s core objectives and the wider environment in which it operates.

Areas in which we seek to strengthen our stakeholder engagement include:
  • Improve customer service;
  • Build partnerships with other financiers to leverage off different strengths and mandates;
  • Increase engagement with sector players to identify opportunities;
  • Leverage IDC expertise to shape and influence policy; and
  • Build strong communities around projects that IDC funds.

The renewed focus on stakeholder management helps the IDC ensure that the Corporation is aware of, and thus able to deliver on, the expectations of its stakeholders.

Stakeholder segments

This year we undertook a stakeholder mapping exercise to understand the range of stakeholders and their influence on the IDC, as well as to prioritise our engagement efforts. Refer to the tables here.

Besides government, other external stakeholders include investors, project partners, co-funders, clients, suppliers, industry associations as well as various lobby groups.

Internal stakeholders include Executive Management, SBUs and Departments, staff in general and other constituencies within the IDC such as the sports fraternity and the Staff Association.

Independent service providers conducted the various surveys (the Customer Satisfaction Survey, the Employee Engagement Survey, as well as the Stakeholder Perception Survey).

These surveys have provided us with an independent analysis of the concerns and expectations of our stakeholder community.

Stakeholder Perception Survey – summary of findings

The objective of the survey, conducted earlier in 2013, amongst 300 stakeholders, was to assess how the Corporation is viewed and perceived by its external stakeholders and further solicit opinions as to where the IDC needed to improve.

The study pointed to the need to continue stakeholder engagement strategies with particular focus on increasing visibility of how the IDC positively influences society.

In this regard the IDC will be focusing on showcasing the positive contribution that it makes to South Africa through its programmes.

The study has shown that this is important for the IDC’s stakeholders and influences how they perceive the IDC.

The study shows that the IDC is perceived well by other development finance institutions and by civic society.

Of importance is that the media’s perception of the IDC has improved significantly since 2011.

The IDC is continuously working on improving its reputation with key stakeholders.

Future focus

We plan to continue building our understanding of the key concerns of our stakeholders and ensure that we maintain a high level of transparency and accountability.

Going forward, our commitment is to:
  • Monitor what stakeholders are saying and doing;
  • Identify stakeholders, their agendas and concerns;
  • Prioritise stakeholders;
  • Analyse stakeholders, their impact on issues;
  • Strategise who/how to target our objectives;
  • Implement stakeholder communications and dialogue; and
  • Evaluate dialogue and relationships.
Stakeholder   How we communicate with them   What matters to them   How we respond to their concerns  
Broader community impacted by IDC-funded projects  
  • Project-specific meetings with community leaders
  • Meetings with traditional authorities, e.g. on land issues
  • Community meetings, including meetings with community representatives through a contracted consultant
  • Consultative meetings, including meeting the District and Local Municipalities
  • LED forums
  • Engaging with project promoters
  • Meetings with traditional leaders
  • Meetings with the Department of Rural Development and Land Reform (DRDLR) and the Land Claims Commissioner
  • Meetings with co-operatives
  • Development forums
  • Sustainable socio-economic development
  • Investment attractiveness
  • Utilisation of community land and other assets in projects
  • Community participation in projects (shareholding)
  • Community decision making in projects
  • Training
  • Assistance in forming, registering and managing trusts
  • Benefits of projects to flow to local communities and improve their socio-economic livelihoods
  • Sustainable employment
  • CSI Initiatives
  • Utilisation of community land, land rights
  • Assistance in managing co-operatives
  • Alleviating poverty
  • Empowering local people
  • Transforming the rural economy
  • Creating employment for locals
  • Sustainable economic development
  • Fund shareholding for communities
  • Local Economic Development initiatives
  • Appointment of consultants to assist the community in local economic development
  • Facilitating the resolution of land issues and ensuring commitment of all stakeholders
  • Establishment and registration of community trusts through contracted consultants
  • Training to trustees and beneficiaries on trust management
  • Compile socio-economic needs assessment for the identified communities
  • Engaging the community to identify community beneficiaries
  • R38 million spent on CSI initiatives
  • Helping the community to use land for sustainable socio-economic development
  • Assisting with the finalisation of land rights for IDC investment
  • Facilitate training interventions by IDC-funded LED agencies to equip co-operatives
  • Assist in ensuring that the benefits accrue to the community
Workers at IDC-funded projects  
  • Employee ownership conference
  • Project specific meetings with workers and workers representatives
  • Engaging with project promoters
  • Training
  • Assistance in forming an association to co-ordinate research and collaboration on employee ownership
  • Benefits of projects to flow to workers and improve their socio-economic livelihoods
  • Sustainable employment
  • Training to trustees and workers on trust management
  • Conferences on employee ownership
  • Fund shareholding for employees
  • Appointment of consultants to assist the workers
  • Establishment and registration of workers trusts through contracted consultants

CASE STUDY

!Khi Solar One

Once completed, this concentrated solar tower power station will be one of the largest in the world. One of the benefits of this project relative to most other renewable energy projects is its ability to store energy and to deliver electricity to the grid during peak times.

Coega Dairy Holdings

The IDC has identified increased competition in the dairy value chain and import substitution in the cheese industry as key sector development goals. We also singled out the need for increased farmer (and specifically B-BBEE) participation in dairy value-adding initiatives.

Windtown Lagoon Resort 

The newly built Windtown Lagoon Resort and Spa reflects the IDC’s focus to funding community-based projects that have potential to create employment opportunities in far-flung regions.


APPROVALS
R13.1 billion
DISBURSEMENTS
R16.0 billion
JOBS FACILITATED
18 922
JOBS SAVED
3 950
© The IDC 2013. All rights not expressly allowed are reserved. P.O. Box 784055, Sandton, 2146, South Africa