PressCane shall set aside a maximum of 1% of the previous year’s profit after tax to fund CSR activities for the year. However this amount can be exceeded on approval by the Board of Directors.
Management will factor the donation amount into the annual budget for formal approval
In the event of a major natural disaster, the Board may consider a special donation
Type of Donation / Contribution
As far as possible, donations and/or contributions shall be in kind and shall be of a sustainable nature. However, where necessary, cash donations will be considered.
PressCane Code of Ethics
All CSR programmes and activities shall comply with the PressCane Code of Ethics.
Support to Developmental NGO’s
PressCane may consider giving support to developmental NGO’s organizations and charities with a proven track record.
Support to Political Parties
Donations are not to be made to political parties and their associated groups.
Similarly, the Group shall not allow donations and/or contributions to religious organizations where the donations or contributions would solely be used for religious purposes.
Key CSR Programmes and Activities
The key CSR activities that PressCane shall be involved in are indicated below.
In cases where an activity is not covered in this policy, the Board approval will be required before any donation or contribution is made.
PressCane shall make deliberate efforts to join hands with the public and private sector in uplifting the education standards in the country. These efforts shall range from the provision of learning materials, infrastructure (e.g. furniture and buildings). PressCane will endeavour to create an environment where needy but good performing students will be given opportunity to learn through the provision of scholarships.
PressCane key employees are professionals in various disciplines and belong to various professional bodies which help them to continuously professionally develop. Therefore, PressCane, as a way of assisting in the operations of these professional bodies, shall make donations or contributions to the professional bodies within the provisions of the guiding principles and the prevailing social and economic conditions. The disciplines recognized thus far are:
- Human Resources
Only healthy people can contribute to the development of a country. PressCane will engage in CSR activities to that will enhance quality of health and reduce incidences of illness in the country.
Therefore, PressCane will assist in some critical medical requests for the supply of drugs, equipment and refurbishment and construction of health facilities.
For its employees and their immediate registered and qualifying family members, PressCane will provide assistance on health care on HIV/AIDS in line with its policy on HIV/AIDS and its Medical Scheme as stipulated in its Conditions of Service.
The environment provides essential resources needed to sustain life. PressCane shall continue to be an organization that improves its environmental performance continually, prevents pollution, and goes beyond complying with applicable environmental legislation.
PressCane recognizes the fact that damaged and degraded environment increases business operational risks. Therefore, the Company will engage in activities that avoid environmental pollution, deforestation and restores degraded areas. The Company will priotize activities that help in environmental protection and good management practices.
PressCane Limited shall also be involved in the development of sports in the areas in which it operates. Sporting activities that would have a maximum impact on the Company’s standing would be targeted. This will include assisting communities in the areas of operation as well as staff members’ sports activities.
Where possible, the following shall be the guiding factors:
PressCane will contribute to efforts to provide support to communities affected by unanticipated natural disasters.
This policy shall be reviewed annually.