| Corporate division
Corporate division overview
Corporate primarily comprises the
operations of the headquarters and
treasury in Johannesburg, the treasury in
Maidenhead, United Kingdom, and the
captive insurance company. The group
has a decentralised management
philosophy; however, a limited range of
corporate activities and services are
provided. These include internal audit,
governance and company secretarial,
investor relations, corporate
communication, corporate finance,
treasury and taxation, risk and legal,
group strategy and sustainability, human
resources management, employee
benefits, and facilities management.
In southern Africa, the operating loss
increased mainly owing to higher charges
and accruals for long-term incentives
linked to the rise in the Barloworld share
price. In Europe, a change in the statutory
measure for inflation on UK pension
increases reduced the company’s pension
fund liability giving rise to a once-off
benefit to operating profit in 2012 of
R74 million (£6.1 million).
Consistent with group commitments and
aspirational targets, corporate office
strives to reduce its environmental
footprint. The main initiatives in this
regard include waste management,
electricity-saving measures such as
retro-fitting of energy-saving lighting and
motion sensors linked to lights and air-conditioning units as well as timer
switches on water pumps.
Notwithstanding these efforts energy
consumption and emissions increased,
mainly as a result of higher electricity
consumption, however, the benefit of
the implemented initiatives are expected
in future.
*B-BBEE rating for South Africa only. |
TEACHing for excellence
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| Celebrating partnerships focused on creating
equality through education
Nineteen years after the end of apartheid in South Africa, educational inequality
persists and overall performance is unacceptably low. The objective of TEACH
South Africa and its volunteer ambassadors is to achieve educational equality for
all learners in South Africa. To achieve this, TEACH recruits talented recent
university graduates who are committed as volunteers to teaching for a minimum
of two years. The organisation then trains and supports them in their deployment
into classrooms in some of South Africa’s most disadvantaged schools.
TEACH Ambassadors are young, highly motivated and skilled individuals who bring
a new energy to the schools in which they are placed. There is strong evidence
that shows poor learners, with the same educational opportunities as other
learners, can achieve at the same academic levels. High performing schools across
the country serving poor populations are matriculating high percentages of their
learners.
In 2009, Barloworld played an integral role in ‘fledging’ TEACH South Africa by
providing accommodation for the programme at its Sandton headquarters, Barlow
Park, over a period of two years. In addition, TEACH South Africa received a
Quantum Combi from the group’s Automotive & Logistics division, which supports
the programme’s transport requirements. In 2012, Barloworld provided a venue to
host the first TEACH School Principal Conference and, in 2013, Barloworld
sponsored a TEACH Funders Breakfast which has resulted in creating partnerships
with other organisations and stakeholders. Barloworld continues to support
TEACH South Africa with grant funding towards its operational costs, enabling the
organisation’s key programme components to operate successfully.
In 2014 TEACH South Africa will celebrate the five-year anniversary of its launch.
TEACH Ambassadors who have been placed in historically disadvantaged and rural
schools have made a positive impact improving learner performance and enabling
learners to enter tertiary education. The impact of TEACH Ambassadors not only
benefits learners and helps to close the achievement gap that persists in South
Africa, but also prepares a generation of learners to be better prepared for
university and the workplace. |
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