Cheers! Peers vote SAB 'most trusted company'

The company came in first place following a nomination process by CEOs, executive committee members and senior managers, Ask Afrika managing director Sarina De Beer said on Tuesday, 9 November 2010.

This year, 120 companies were mentioned in a peer review involving 200 interviews, she said.

All companies mentioned were then rated on their reputation against drivers set out by the Fortune 500 Most Admired Company Review and the King III report, she said.

Attracting and retaining talented people is just one driver

De Beer said these drivers included the ability to attract and retain talented people, quality of management, social responsibility, wise use of corporate assets, financial soundness and long-term investment value.

At the end, 13 companies made the grade.

SAB had previously come out as the most trusted company three times in the last seven years, since the barometer was started in 2003, De Beer said.

Standard Bank received second place while Bidvest came third.

In the sustainability index, Standard Bank came first followed by SAB and MTN.

Factors for this index included benefits for stakeholders and not just shareholders, financial well being, if the company showed a vested interest in the community, and initiatives to reduce the company's carbon footprint.

"We are honoured to have received this award which recognises our goal of seeking to demonstrate leadership in every dimension of our business," SAB director Vincent Maphai said.

Source: Sapa