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SRI POLICY

At Vetiva, we believe that we have a fundamental responsibility to assist in improving the lives of less privileged individuals and communities in Nigeria through our work. We have therefore developed a Socially Responsible Investment (SRI) Policy that is aligned to our business strategy and contributes to our overall mission and vision. Our SRI programme is a deliberate, focused, coherent and progressive programme that is aligned to our business imperatives and is therefore:

  • Well co-ordinated
  • Guided by a common policy framework
  • Focused
  • Mutually beneficial
  • Seen as a strategic business function
  • Aligned to the core business

Vetiva SRI Programme Objectives:

  • Make a meaningful investment in the future of the company
  • Make a significant impact by building rewarding and sustainable relationships
  • Enhance Vetiva image and reputation
  • Support the strategic positioning of Vetiva as a caring and responsible corporate citizen

Vetiva SRI Policy Statement:

At Vetiva, being a responsible and contributing corporate citizen is a key component of our business strategy. Therefore, through our community investment strategy, we are committed to empowering and nurturing people through individual interventions. In allocating resources to the outlined focus areas, we are guided by the need to:

  • Focus on communities within which we operate
  • Focus/emphasise investments in disadvantaged communities
  • Support programmes that engender development

Vetiva SRI 'Footprint':

Investments will be made throughout Nigeria, mainly focusing on the communities within which Vetiva operates.

Programme Focus Areas:

Two focus areas have been identified and are as follows:

  • Financial education and literacy
  • Lifestyle enhancement
The remainder of the SRI budget will be allocated to smaller social investments that fall within one of the following sectors:
  • Job Creation
  • Skills Training
  • Environment and Conservation

Criteria For Selecting Projects:

All organisations and projects identified for financial support from Vetiva must:

  • Serve disadvantaged communities within Nigeria
  • Have youth /young adults and women as their main beneficiaries
  • Demonstrate the possibility for sustainability
  • Allow for employee involvement
  • Ensure that monitoring and evaluation systems are incorporated for effective impact measurement
  • Be implemented by organisations that are registered as Non Profit Organisations with and have tax exemption status
  • Be implemented by organisations that have been in existence for a minimum of Three (3) years

Vetiva Will Not Offer Financial Support To:

  • Profit-making organisations and companies
  • Religious organisations for sectarian activities
  • Political parties or groups with partisan political affiliations
  • Labour unions
  • Conferences
  • Organisations that have been in existence for less than Three years
  • Organisations that are not registered as Non Profit Organisations
  • Organisations that do not have tax exemption status

Vetiva SRI Budget:

The annual SRI budget will be calculated according to a minimum of 1% of net profit after tax in that financial year. The majority of funding will be allocated to selected flagship projects with the balance allocated to the non-flagship projects. The budget will run from the 1st of April to the 31st of March each year. Project application submissions will only be received and considered from January to April each year.

Employee Involvement:

At Vetiva, we realise the value of involving our employees in our SRI activities and as such, will endeavour to develop and implement an employee participation programme. This programme will aim to holistically address the needs of our employees, whilst achieving our corporate objectives.

Employees will be invited to submit projects within the identified focus areas for consideration for funding. They will also have the opportunity to provide input into the final projects under consideration.

Once the final projects are selected, employees will be encouraged to get involved in these projects by volunteering their time and making additional financial contributions and donations in kind. The volunteer and other needs of projects that we support will be identified and communicated to our employees, to ensure that they are aware of the opportunities available for engagement.