Our contribution to the upliftment of society is a long-term investment that we take very seriously. Our journey started at the inception of the business with engagements on human development, specifically in the area of education. Over the years, this educational focus has resulted in the development of a number of inspiring programmes that have changed the lives of many. For us it is about building lasting relationships that will propagate a positive and sustainable impact on individuals, communities and the economy.
At Coronation, corporate social investment is about building lasting and sustainable relationships.View Our Short Film
Building Sustainable Communities
At Coronation, we support a number of programmes that aim to empower South African to thrive and provide for their families. By equipping individuals with the skills and knowledge to build a sustainable and dignified future, significant strides can be taken in alleviating poverty.
Building on the success of the Coronation Growing Entrepreneurs Programme, we launched our youth-focused Coronation School Gardens Programme in 2010. This particular programme teaches learners about the environment through the transfer of basic agricultural knowledge, including the importance of recycling. Critical to its success has been the inclusion of educators and caretakers who provide a much needed support role to learners in maintaining their garden ventures. Over the past six years the gardens have become a source of vegetable supply for school nutrition programmes and in some instances feeding schemes. Since 2010, 7 496 learners at 404 schools across the country were involved in the programme.
Pioneered in 2004, in collaboration with the South African Institute for Entrepreneurship, the Coronation Growing Entrepreneurs Programme has positively impacted rural and peri-urban communities' economic development, job creation and poverty alleviation, especially among small-scale agricultural farmers.
The programme trains small-scale emerging farmers across South Africa in the areas of good governance, financial management, practical and legal aspects of farm operations, and recordkeeping, with the aim of commercialising their efforts into a sustainable business. In 2015, 14 cooperatives received training and mentorship support, benefiting 387 individual farmers.
Since inception, 5 172 small-scale black emerging farmers across South Africa and 226 cooperatives have benefited from the programme. Approximately 92% of the participating cooperatives, to which the majority of the farmers belong, have secured access to markets and are regularly supplying produce to supermarkets.
Consumer financial education, as defined by the Organisation for Economic Co-operation and Development and as adopted by National Treasury, the FSB and ASISA, assists financial consumers/investors to improve their understanding of financial products, concepts and risks and, through information, instruction and/or objective advice, develop the skills and confidence to become more aware of financial risks and opportunities, to make informed choices, to know where to go for help, and to take other effective actions to improve their financial wellbeing.
We support ASISA’s Retirement Fund Trustee Education programme. The programme covers investment fundamentals and active ownership, as well as retirement fund governance and the role of trustees. The workshops were developed and presented by the ASISA Academy and subject to independent monitoring and evaluation.
In addition, we contributed towards the FSB’s Financial Consumer Education Foundation, a discretionary trust founded by the FSB and governed by an independent board of trustees as a separate entity. The sole purpose of the Foundation is to fund the financial consumer education initiatives implemented by the Consumer Education Department of the FSB.
The objectives of the Foundation are to:
- Fund, promote or otherwise support consumer financial education, awareness, confidence and knowledge regarding consumer rights, financial products, institutions and services supervised and regulated by the founder.
- Promote the use of regulated financial services by those who have not yet availed themselves of financial products and services available, including the poor and needy.
- Educate pension fund trustees to promote the responsible management of pension funds and protection of pension fund members.
- Educate financial services providers on consumer protection.
- Promote the education of consumers, pension fund trustees and financial services providers so as to serve the needs, interests and well-being of the general public in the field of financial services.
- Promote formal education.
Coronation supports the Foundation with a number of these initiatives which are targeted at consumers in rural communities, the youth in school and out of school, including trustees of private pension funds and members. Examples include:
- Train-the-trainer project, a national initiative in partnership with community-based organisations and government departments aimed at transferring knowledge to identified groups.
- Industrial theatre performances and exhibitions targeted at the youth and low-income consumers.
- Creation of case study DVDs for the trustee toolkit handbook as supplementary content.
In partnership with Avocado Vision, we also run a consumer education programme comprising a bespoke series of training modules. It is specifically designed to empower economically active people in impoverished communities aged 16 and above to make more informed decisions about their finances and lifestyles. In the 2018 financial year, 18 070 adults across 9 provinces benefited from 574 training sessions.
Through our involvement in projects designed to empower and develop educators, we acknowledge the critical and influential role played by teachers in the development of children.
The improvement in the quality of education in South Africa is an urgent and critical challenge. Our engagement focuses on programmes aimed at greatly enhancing the literacy and numeracy skills of learners at foundation phase.
The Coronation Reading Adventure Rooms programme, launched in January 2010, is an intervention to improve English literacy outcomes at indigent primary schools in the Cape Town area. The programme, run in collaboration with Living Through Learning, addresses foundation phase learning through dual targeting of learners and educators.
The programme’s comprehensive literacy curriculum supplements and integrates with the National Department of Basic Education’s Curriculum Assessment Policy Statements. Educators are provided with specialised training sessions and monthly educator forums to enhance teaching ability. In addition, mentorship and motivation is offered by on-site facilitators and all the necessary resources, such as educator manuals and stationery, games and workbooks for learners, are provided.
To build a new and inspirational frame of reference for learners, the programme takes place in a pre-selected classroom within partner schools. Each room is transformed with mural landscapes to create a fun and adventure-themed learning environment that facilitates active, compounded learning.
Over the past financial year, 26 schools benefited from this programme. This created a direct benefit to 35 teachers and 3 700 learners.
Research has shown that early difficulty with foundation-phase mathematical concepts has lasting and cumulative negative effects as children progress through their school career. By focusing on the first three years, learners are equipped with the skills required to achieve success in the intermediate phase.
Counting with Coronation was launched in July 2012. The programme comprises intensive foundation-phase mathematics training for teachers, which is run in collaboration with the Western Cape Primary Science Programme Trust. Currently, the programme, which functions as a two-year cycle, is in place in 25 primary schools situated in the most impoverished communities. In the past financial year, 335 foundation-phase teachers and more than 12 000 learners benefited from the programme.
Recognising Keen Minds
The youth are the future of the nation, and the best means of empowering young people is to provide them with opportunities to further their studies through tertiary education.
Statistics show that South Africa produces only one-third of the 25 000 teachers required per year, particularly in the key learning areas of maths and science. Furthermore, due to poor teacher utilisation, teachers qualified in these subjects are often deployed in the instruction of non-scarce subjects. Recent research has also found that nearly 80% of Grade 6 maths teachers are unable to successfully complete the very curriculum that they teach to their pupils.(Source: Centre for Development and Enterprise.)
The LEAP Science and Maths Schools' Future Leaders Programme aims to create a teacher development model that addresses the severe shortage of qualified teachers in the country. The programme includes practical classroom training, dedicated mentoring and specialised tuition for students studying Bachelor of Education through Unisa. In the past financial year, Coronation funded and supported 10 teachers in training and 6 schools.
Coronation is also involved in the Principals’ Academy, a three-year programme that equips school principals with the necessary skills to manage and transform their schools. As part of the Principals’ Academy, retired school principals provide coaching and mentoring to school leaders. The programme is supported by the UCT Graduate School of Business. Coronation currently supports two principals who are participating in this project.
In the 2018 financial year, 183 schools and 150 000 learners have benefited from the Principal’s Academy.
Founded in 1993, this programme provides full tertiary bursaries to a number of bright young previously disadvantaged South Africans. Funding is awarded based on merit and financial need. Students come from across the country and can elect to study at any recognised university within South Africa. Bursary students are matched with a Coronation mentor to assist in the integration to university life, and offered additional support by trained tutors. During the life of the bursary contract, students can gain valuable practical work experience through vacation work, primarily in our Cape Town head office.
Coronation recognises that education is a key catalyst in addressing inequality in South Africa and we continue to refine the programme to ensure relevance and effectiveness, particularly in relation to an individual’s professional development. Our intentions are to absorb as many of our successful bursars into our business, and to equip those to whom we are unable to offer employment with the necessary skills for inclusion within the financial industry.
Since 1993, 106 previously disadvantaged South African students have been awarded study opportunities through the Coronation Bursary Programme.
Talented candidates also have the opportunity to be financed by the Staff Bursary Fund. This is a fund created in 2007 through voluntary donations made by staff, where the only obligation placed on the selected students is to pass their chosen course of study.