Our Strategy
Material Matters
The Bank's operations, products and services and relationships touch a multitude of stakeholders across the country and support to drive key national priorities. Cognisant of the impacts its business can have across economic, environmental and social dimensions, the Bank proactively carries out a materiality assessment exercise annually to identify and mitigate negative impacts and advance positive impacts, originating from its business activities. These issues include events occurring in the Bank's operating landscape during the year under review, which could significantly affect the Bank's ability to achieve its strategic imperatives and to create value over the short, medium and long term.
The Bank’s material topics represent its most significant impacts across its operations, business, products and value chain. The material topics identified as part of the materiality assessment are considered pertinent areas of interest to the Bank’s stakeholders, forming a key input to the management’s strategy and approach towards sustainability.
The Bank adopts the principle of double materiality. The contents of the integrated report extend beyond financial reporting and includes nonfinancial performance, opportunities, risks and outcomes attributable to or associated with our key stakeholders, which have a significant influence on our
ability to create and preserve value, while minimising value erosion.
A structured methodology is followed to identify material topics that influence the Bank’s strategy and operations as outlined below;
MATERIALITY THEMES
The materiality assessment for 2024 was structured on the material topics identified during the previous year which have been grouped under four broader themes. The topics were reviewed in line with changes in operations and there were no significant changes to the reporting boundaries. Further, there was no change in materiality for the material matters concerned.
DOUBLE MATERIALITY MATRIX
