FirstRand |
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FirstRand represents a very different proposition to its peers in that it is the only fully integrated financial services group in South Africa.
It is also the only one of the big-four South African retail, commercial and investment banking groups that is “owner-managed”. Through its ownership of First National Bank, Momentum, Rand Merchant Bank and WesBank the Group can operate in almost every area of the financial services arena.
Read more about the FirstRand Group.
Established in 1998, the FirstRand Foundation is the legal vehicle through which FirstRand Ltd. and its major brands (First National Bank, Rand Merchant Bank, and WesBank) direct their individual and collective corporate social investment (CSI).
This effort is not driven by the desire to shine a spotlight on the ‘good things’ that the company is doing in annual reports, press releases, and public events. Instead, the Foundation is the embodiment of FirstRand’s belief that corporations have a responsibility – beyond creating jobs and paying taxes – to contribute to the social and economic upliftment of all South Africans.
The Foundation does this through strategic, measurable CSI, given in the name of its major brands and the parent group. Focus is placed on ensuring that the limited budget of the Foundation is targeted in the most effective way possible, and that real impact is realised across programmes. There is a willingness to take considered risks in backing high-potential projects, but also a sensitivity to the changing fortunes of established partners and programmes. The Foundation prides itself as a learning organisation, which understands ‘development’ as a complex and long-term issue, immune to easy solutions or quick fixes.
Today, the FirstRand Foundation is one of the largest corporate givers in South Africa, having invested over R700 million in non-governmental organisations across the country. Ultimately, the Foundation aims to ensure that its social investments are made and measured with the same rigour as FirstRand’s financial investments.
Read more about the FirstRand Foundation.
Read more about the First National Bank Fund
Read more about the Rand Merchant Bank Fund
Read more about the WesBank Fund
