Business, our society and the environment are intrinsically connected in complex ways and Efora believes that the sustainability of the Company within its operating environment should be a moral and economic imperative.
As a responsible corporate citizen we commit to upholding the highest standards in our interactions with persons or entities we do business with.
Our Code of Conduct guides our approach to stakeholder engagement and our key stakeholder groups are clearly identified. In the past financial year we actively engaged with our key stakeholders in pursuing matters of high priority which directly affect the sustainability of the Group.
Key stakeholder groups which are crucial to our sustainability and value creation, together with matters that are of significance to them, are outlined below.
Investors and funders are providers of financial capital which enables us to grow the business and create sustainable value. In this regard communication needs to be transparent and timely so that potential concerns are addressed expeditiously.
We engaged actively with potential investors to garner support for the Group’s strategy and to align our major shareholders on key issues pertaining to strategy execution.
Governments grant our operating licences and provide an enabling regulatory framework to inform our operations. Our stakeholders’ key interests.
Regulatory engagements around the acquisition of our downstream business were critical to achieving compliance with key requirements.
Working with business partners in multiple jurisdictions enables us to forge mutually beneficial relationships within the O&G sector which facilitates the expansion of our operations, hence creating value for our shareholders.
Our customers inform us of their specific needs which enable us to better deliver against their expectations.
Our various suppliers enable us to deliver products and services, whilst we support local business development.
Employees are at the heart of our business and our engagement with them facilitates the creation of a work environment that fosters a high-performance culture and promotes fair and equal opportunities for all.
Employees were actively engaged regarding changes that took place in the Group not only in respect of merger and acquisition activity and its impact, but on other matters of interest as well. The Group has invested in its employees through providing study assistance and training opportunities. These study programmes are aligned with the business’s requirements.
Minimising the impact of our operations on communities where we operate is of utmost importance to us. We also strive to improve the lives within these communities through our engagement with them.
Efora is aware that the nature of the Group’s operations has the potential to impact communities. We are therefore committed to building collaborative relationships within the communities in which we operate so as to enhance, rather than negatively impact, their existence. The Group invests in socially relevant initiatives that benefit communities and this past year sponsored a CSI initiative in Alexandria.
Engagement with the media enables us to promote and enhance the Group’s reputation. A number of engagements took place with key role players in the media. These were facilitated by a seasoned strategic communications specialist to raise awareness around the Group’s activities.
Focus areas for 2018/19
- To improve the effectiveness of our engagements with key stakeholders
- To survey key stakeholders who were not previously surveyed
- To close identified gaps in stakeholder expectations