The board has set up processes to regularly consider and address legitimate interests of stakeholders with the conviction that stakeholder perceptions affect the group’s reputation and stakeholder support influences group performance.

Stakeholder management poses significant challenges due to the large number of diverse stakeholders, arising from the variety of products in diverse geographic locations. The board considers stakeholder management particularly important because of the impact of agriculture and property development on the daily lives of mainly rural communities in terms of job opportunities, water quality and availability, food security and land occupation. Because of this, government and quasi-government institutions tend to take a keen interest in the agricultural sector. In South Africa alone, the group deals on a regular basis with the Department of Agriculture, Department of Rural Development and Land Reform, the Land Claims Commission, the Department of Water Affairs and the Department of Labour, all at both regional and national level and with local municipal structures.

To address this challenge, both centrally and at regional level, the group has compiled a comprehensive stakeholder database and introduced a formalised planning and reporting structure. Stakeholder interaction is a management priority.

At regional or estate level, the general managers are responsible for the identification of stakeholders and the management of these stakeholders, including communication and relationships, the reporting process and most important, the continuity and follow up of matters arising from the interactions.

The group executive committee carries the responsibility for the facilitation and co-ordination of an integrated process. The group’s internal audit team periodically evaluates the results and reports thereon to the risk committee.

STAKEHOLDER GROUPING OBJECTIVES ENGAGEMENT PROCESS
Business partners Consistent performance
Efficient dispute resolution process
Transparent and effective communication
Participation on working groups
Participation on boards of directors
Regular management meetings
Participation in management development workshops
Communities Business opportunities
Employment opportunities
Social investment
Demand for products
Programmed meetings
Strategy sessions with joint venture partners
Community functions
Customers Understanding of requirements
Establish sound relationships
Build trust
Formal interaction driven by line management
Ad-hoc informal contact
Attendance of industry events
Employees Preferred employer
Challenging and safe work
Fair remuneration and benefits
Sound inter-group relationships
Formal and informal interaction on a daily basis by line management
Quarterly newsletter
Internal communication channels
Attendance of workshops and functions
Government and regulators Land restitution
Regulatory compliance
Participation in sector transformation
Access government initiative
Formal meetings
Attendance of functions
Participation in workshops
Shareholders and investors Keep investors informed
Increase liquidity
Promote company
Annual general meeting
Integrated annual report
SENS announcements and press releases
Suppliers Quality products
Reliable delivery
Sustainability of relationship
Value
Meetings and roadshows
Formal and informal interaction via line management
Detailed briefs in terms of standards and specifications
Periodic feedback on performance