Our South African operations disbursed more than R64 million (US$10 million) to over 400 projects in 2005. This is equivalent to US$31 million in South Africa when adjusted for purchasing power parity. This includes spend by DBCM, De Beers Fund, De Beers Marine and De Beers Group Services. More than 70% of this was disbursed in the vicinity of our operations. A catalogue of these projects is presented with the online version of this report.
The De Beers Fund is the primary instrument of social investment spend in South Africa. In 2005, the Fund made grants and contributions of more than R25 million (US$3.9 million). The Fund goes beyond merely providing money. It supports people and organisations that make a difference in society to achieve the greatest net impact and contribution to sustainable development. The Fund is independently managed by TSI. It works actively with those it supports to build effective citizens with the capabilities, skills, confidence and determination to play active roles in the emerging African economy.
The Fund does not respond solely to need. It looks at the qualities and capacities of the people championing social change to ensure they can generate sustainable projects. All approaches received by the Fund are subject to careful review. A set of “Guidelines for Applications” has been developed to assist applicants in the compilation of funding proposals. The De Beers Fund also works closely with other stakeholders in project delivery. Building relationships with government, NGOs and other civil society organisations is a fundamental part of how the Fund operates. |