With a firm belief in the power of education, the PPS Foundation is working tirelessly to create a brighter future for South Africa. Together, we are building a society where education is accessible to all, unlocking doors of opportunity and fostering sustainable growth for individuals and communities alike. Through our comprehensive programmes, we enable school leavers to overcome financial hurdles and pursue higher education, but also focus on enhancing job-readiness and equipping students with the skills necessary to reach their full potential as professionals.
In 2022, the PPS Foundation made significant strides in its mission to support education and empower South Africa’s youth. Despite the challenges posed by the COVID-19 pandemic, the Foundation witnessed remarkable recovery and progress. Collaborating with PPS Healthcare Administrators (PPSHA) and Accredited Resource Consulting Services (ARCS), the Foundation granted bursaries to 73 students at tertiary institutions, with 28 students successfully completing their qualifications without any financial debt.
We celebrate yet another year of success and proudly continue our support for the PPS Foundation. The positive impact of the various programmes managed by the PPS Foundation gives PPS great comfort knowing that the funding provided is going towards skills development and reducing youth unemployment in South Africa.
As we reflect upon the accomplishments and challenges of the past year, we are proud to present our annual report — a testament to the dedication and resilience of our organisation. The year gone by has been a transformative one, marked by shifts and uncertainties. Yet, it is precisely in times of change that our true mettle is tested, and we are thrilled to share how we have embraced these challenges, turning them into opportunities for growth and innovation.
The PPS Foundation has undergone significant growth and transformation while remaining steadfast in its mission to empower young individuals through education, enabling them to achieve financial independence at an earlier stage in their lives. Each year, the number of bursaries the Foundation provides has consistently increased, particularly through collaborations with PPS Healthcare Administrators and Accredited Resource Consulting Services (ARCS).
The PPS Foundation is overseen by a Board of Trustees led by the Chairperson of the PPS Holdings Trust (the PPS Group apex body). The Board meets quarterly to review progress towards strategic goals, fiscal management compliance and risk assessment.
The PPS Foundation’s management team is responsible for executing the strategic plans under the guidance of the Executive Trustee, while the Board provides strategic oversight and guidance. The PPS Foundation operates with transparency and integrity, aligned with regulatory requirements related to SARS and B-BBEE, and adheres to section 18A(1)(a) of the Income Tax Act.
The Board relies on subcommittees and governance functions to ensure operational integrity, including the Group Audit and Risk Committee, Group Compliance, the social and ethics committee, the Company Secretariat and Group Finance.
In summary, the PPS Foundation, registered as a public benefit organisation (PBO), is committed to transparency, accountability, robust governance and regulated practices, with a Board of Trustees dedicated to upholding the PPS Foundation’s values and objectives.
Notwithstanding the challenges faced in 2022, PPS Insurance Company Limited honoured its continuous commitment to Corporate Social Investment with its generous donation to the PPS Foundation Trust. Supplementing this donation, were donations from generous individuals which reached a total of over R156,000 in 2022.
Distributions are made in line with the trust deed, as overseen by the Board of Trustees. The bursary programme received 76% of allocations in 2022 enabling promising students to continue their tertiary studies and take their place in the professional community in the future. The university support programme received an allocation of 21% of funds distributed. The remaining programmes received 3% of allocations.
The PPS Foundation Trust continues to evaluate opportunities to make a difference in the educational journeys of young professionals of tomorrow. A full set of audited financial statements may be viewed at the PPS Foundation offices on request to Ms Subashni Gounder – Corporate Social Investment Manager.
Donating to a public benefit organisation (PBO) is of great significance in positive impact it has on the lives of beneficiaries. As professionals, we have a responsibility to contribute to the betterment of our community, country and individuals. It is essential for us to pay forward the shared success we have experienced and acknowledge the contributions of others in shaping our professional journeys.