About Mediscor

Mediscor PBM Corporate Social Investment Policy

Mediscor PBM is committed to be a good corporate citizen of South Africa. Mediscor envisages making a positive contribution towards the social and economic upliftment of the society in which we live & operate.

• Scope

Corporate Social Investment envolves the integration of the company’s social and environmental concerns in its business operations and the interaction with the company’s stakeholders on a voluntary basis.

The CSI committee was established to drive the company’s commitment to CSI, which is an integral component of our broad based Black Economic Empowerment (BEE) strategy. Mediscor is committed to establish relations that will uplift the previously disadvantage communities through education, health and other social investment activities.

Mediscor aims to positively contribute towards the sustainable social and economic development of our communities. Sustainable development is about ensuring a better quality of life for all members of society now and for future generations.

The Mediscor corporate social investment initiative in principle supports causes chosen directly by Mediscor management, shareholders and the CSI committee in local regions, through discretionary volunteering, donations and sponsorships. This is especially focused on local projects and programmes that have an impact on Mediscor’s employees and activities, and the communities in which they live and work.

Mediscor PBM is committed to continue its involvement and aims to ensure that social investments are made wisely, strategically and to maximise the good of our company’s engagement.

• Mediscor objective

Mediscor believes that the investments should be in a limited number of projects and on ongoing basis that provide goods and services to people in need by way of food, medicine, clothing, housing, heat and light, transportation, communication, recreation and education.

Whether by spend or employee time contributions the Mediscor CSI policy is based on the following principles:

• Upholding the spirit of broad based Black Economic Empowerment
• Stabilising the social and economic environment within our communities
• Recognising the voluntary nature of corporate social investment
• The primary beneficiaries are from previously disadvantaged communities
• Sustainability
• 80% of the funds to be allocated to initiatives involving black communities

The CSI committee is aligned with our business to benefit previously disadvantaged communities especially in the following areas:

• Health
  • Clinics and Hospices
  • HIV/AIDS and other prevalent diseases
    • Nutritional feeding i.e. for people affected by, and infected with HIV/AIDS.
    • Education i.e. about HIV/AIDS through internal channels and manage care organisations.
    • Any other support required by people suffering from identified diseases.
    • Healthcare practices.
• Education
  • Technology implementation in schools to bridge the digital divide
  • Career investments
  • School furniture and resources
  • Feeding schemes at schools

• Sports activities
  • Youth coaching
  • Schools sports

• Social and economic development
  • Children homes
  • Vegetable gardens

• Upliftment of women

• The Aged

• The Disabled

• Funding criteria

Mediscor’s corporate social investment guidelines:

• The project must have a sound financial management structure
• The project must benefit previously disadvantaged communities on a 80/20 split
• Projects could be a start-up project or already established and in the process of expanding
• The project should meet the Mediscor objectives as listed above.

Mediscor donations, sponsorships and volunteering programmes always:

• Work within the budgets set by the business
• Get the best out of the resources we allocate
• Keep to our designated areas of support
• Decline requests from areas outside our scope
• Pursue investments and projects which have strong potential for creating long-term value
• Be sure that we have the appropriate authority before committing support
• Report donations through the appropriate management channels using clear cost codes
• Report activities so that we can track their impact and share information within the company.

Budget allocation of selected projects will be done based on the following criteria :

• Charitable donations are made at the discretion of the CSI sub-committee up to but not exceeding values ascribed by the Mediscor management and stakeholders. The directors and stakeholder’s authority should be sought for requests above certain agreed parameters.
• Whilst we do not set specific funding limits, we are clearly bound by our budgets, the business resource limitations, and what the business set as their priority areas.
  

• Procedure

Requests for Mediscor to participate in projects, initiatives and charitable donations must be submitted to the CSI committee in writing. These requests will then be evaluated by the CSI committee. Projects that comply with the basic criteria set out in this document will then be evaluated and a complete plan of action will then be submitted to Mediscor management for approval before implementation.

• Responsibility

The presence of the CSI committee does not preclude any divisions or departments within Mediscor to support and participate in any CSI activities, but these activities should be reported to the CSI Committee to facilitate easy consolidation and reporting on CSI in general.

It is the responsibility of the Mediscor management, shareholders and the CSI committee to ensure that the CSI Policy and Procedure are adhered to and all employees are fully briefed and acquainted with the procedure.

Last update: 07 July 2009