Engaging with Stakeholders
At Massmart we know that stakeholder engagement is key to ensuring the sustainability of our Group, and as such, it is a vital component of our business practice and central to all of our decision-making, and as a responsible corporate citizen we know that those we do business with, and those whose lives we impact by doing business, should be through platforms ranging from meetings and public seminars to employee helplines and to more structured workshops and surveys, able to air their views and help us maintain an ongoing understanding of their needs and expectations.
Our stakeholders are defined as those parties that have a direct stake in our business because they can affect or be affected by our activities, objectives and policies; they are:
- Our customers – through our 352 stores we transact with millions of customers and we invest every effort to responsibly satisfy their expectations of product quality and value.
- Our employees – we employ over 30 000 people across our operations, and recognize our duty to implement responsible, fair and enlightened employment practices.
- Our shareholders – as a JSE listed and publicly traded company, we have numerous shareholders in South Africa and abroad, ranging from major institutions to individuals.
- Our communities – we operate in South Africa and 12 other sub-Saharan African countries and appreciate the need to become meaningfully involved in community upliftment initiatives in the areas within which we operate.
- Our suppliers – we source goods and use the services of over 9 000 active suppliers and we strive to provide them with a highly competitive and socially responsible channel to sub-Saharan African markets.
In addition to the major stakeholders identified above, we maintain close relationships with NGOs, business associations and civil society organizations such as SASSI, National Youth Development Agency, Women’s Development Bank, the Ethics Institute of South Africa and Carbon Disclosure Project on the understanding that they play an important role in advocating responsible business practice. We also actively engage with government departments and the legislature in areas of mutual interest with keen awareness of the positive impacts that private partnerships with government can have in all spheres of business and society. In recognizing the important role that the media plays in reporting issues of financial and public interest to investors, customers and broader society, we aspire to provide the media with ready access to Group and divisional executives.