• Masakhe (“Let us build”) – supporting founders in the early stages as they establish core business fundamentals • Siyakhula (“We are growing”) – helping growth‑stage SMMEs strengthen operational capability and expand their customer base • Asindize (“Let’s fly”) – preparing accelerate‑stage businesses for funding, scale and market integration. Stokvel-focused ESD programme Women-owned SMME ESD programme The Sanlam Re Basadi ESD programme was established to address one of the most persistent gaps in South Africa’s entrepreneurial ecosystem: the structural barriers that prevent black women‑owned businesses from accessing markets, capital and sustained growth opportunities. Delivered in partnership with a specialist ESD implementation partner with deep expertise in developing women‑led enterprises, Re Basadi provides a structured, life‑stage‑based development journey that supports entrepreneurs from early establishment through to investment readiness. This partnership ensures that each entrepreneur receives targeted, high‑quality support that combines technical guidance, mentorship and market‑aligned business development. The programme is run virtually to ensure accessibility across the country and consists of three tailored sub‑programmes: “Dear Sanlam Foundation team, Thank you for always believing in us, providing us with a free marketing tool for our products, and for pushing us to achieve our goals. Your confidence in our abilities has attracted the world to us and contributed a credible influence which is priceless. We’ve been selected to participate in the Township Digital Market Access incubation programme, and we are participating with confidence and know what is expected from us because of you. Your support and partnership plays a key role in all our success, and we appreciate your participation.” Nomasonto Moncho Babalaz Sauces, Kuruman, Northern Cape 37 black women-owned businesses onboarded and 16 new jobs created (2024: 33 and 15, respectively) 12 stokvels (2024: 12) 408 members in total (2024: 408) Stokvels are one of South Africa’s most powerful yet often overlooked economic engines. For generations, they have enabled communities to pool resources, build social capital and create informal financial safety nets. Today, stokvels collectively manage billions of rand each year, demonstrating strong group discipline, trust‑based governance, and entrepreneurial potential. However, many remain informal and disconnected from formal financial systems, limiting their ability to grow, diversify income streams or access markets. To unlock this potential, the Foundation partners with an expert enterprise development organisation with deep experience in working with community‑based financial groups. Zevoli has proven methodology in formalising informal enterprises, strengthening compliance and building financial capability. This expertise ensures that the programme is culturally relevant, technically sound and responsive to the realities of stokvel operations. Through this partnership, the Stokvel‑Focused ESD programme supports stokvel groups to evolve into sustainable, investment‑ready enterprises. Results are reported for the 2025 cohort, which started in 2024 and completed in 2025. The programme focuses on: • Formalising stokvel structures to strengthen credibility and improve access to financial services • Introducing stokvels to financial instruments and investment options that help diversify and grow their collective income • Teaching enterprise principles so stokvels can operate with the discipline and strategy of small businesses • Providing mentorship, tools and development support to help groups scale their activities and strengthen long‑term sustainability • Offering financial literacy, governance and compliance training to ensure stokvels can manage resources responsibly and transparently • Equipping members with investment strategies that optimise returns and support long‑term wealth creation for their communities By shifting stokvels from purely savings‑based groups into catalysts for micro-enterprises, employment creation and local economic activity, the programme contributes directly to the Foundation’s mandate to drive inclusive economic participation, support B‑BBEE priorities and strengthen community‑level financial resilience. In 2025, 37 women entrepreneurs from diverse regions across all nine provinces participated in Re Basadi, reflecting the programme’s expanding national reach and its role in creating pathways for women to build resilient, competitive businesses. Enterprise and supplier development continued Sanlam Foundation Annual Report 2025 19 About this report Sanlam Foundation social impact 2025 Message from the Group Executive: Corporate Affairs and Sustainability Message from the Head of the Sanlam Foundation Strategic aspirations Our theory of change Programmatic performance Monitoring and evaluation Income and expense report Group-wide social impact intent Our partners
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