The Sanari Capital Annual Sustainability Report for the year ended 31 December 2023 has been published! We are so proud of our impactful portfolio. Read the full report here.
Since investment, our investees have delivered:
– 115% increase in jobs.
– Average growth in black management representation from 6% to 31%.
– Average female representation in management remained flat at approx 26% but grew in numbers by 75%.
– Average female staff representation grew from 35% to 40% and average black staff representation grew from 40% to 57%.
Edulife Group’s Academy of Excellence continues 100% matric pass rate in all but 1 of the past 5 years & 57% bachelors pass, offering accessible quality education in previously disadvantaged communities.
LightWare LiDAR CEO shared her leadership journey in a male-dominated industry, expanding gender & racial diversity in the organisation.
iiDENTIFii expanding financial inclusion & reducing racial bias in facial recognition algorithms.
JAYCOR International delivered exceptional transformation in racial and gender diversity, reaching 83% black management and 84% black staff.
This corresponds with impressive financial performance. In the past 2 years (starting from a post-COVID-recovery base), we’re proud to report strong revenue growth and growing profitability across the portfolio including the predecessor portfolio.
For the 12 months to February 2023, South Africa recorded 0.6% GDP growth largely stifled by its energy crisis. For the same period, the Sanari 3SG Fund’s three portfolio companies recorded aggregate revenue growth of 43%, ranging from 33% to 52% across the companies.
For the 12 months to February 2024, this has ranged from 50% to 89% revenue growth over prior period, whilst the South African economy grew by 0.9%.
Leading by example, Sanari boasts exceptional racial & gender diversity with 67% senior exec and 69% total staff black composition, and 67% senior exec and 66% total staff female composition.
This report is mainly focused on the Sanari 3S Growth (3SG) Fund portfolio of companies, currently comprising of investments in Edulife, LightWare and iiDENTIFii. Now past its second close at R1.25 billion in committed capital (c.USD 65 million), the 3SG Fund is Sanari’s second fund, but first fund targeting institutional investors.
Investors in the 3SG Fund [Public Investment Corporation, Alexforbes Investments, 27four Investment Managers with Consolidated Retirement Fund, the National Fund for Municipal Workers (NFMW) & Motor Industries Retirement Funds, Telkom Retirement Fund through the RisCura Manager Development Programme] seek strong commercial returns for their beneficiaries and constituents, and social, environmental & developmental impact. Sanari has aligned its ESG approach with the objectives and reporting frameworks of its investors, and a range of international and national ES&I guidelines, standards and frameworks.
