STRATEGY Vision The execution of our strategic planning is typically oriented over successive five-year periods (2017 to 2022, 2023 to 2028). At the start of each period, new goals are set and plans are formulated to achieve them. These goals are then executed and tracked. However, we are also focused on defining PPS’s vision for the future. We sincerely appreciate the foresight and diligence demonstrated by the past stewards of our business. Hence, in embracing our inter-generational duty, we accept the responsibility of shaping a purposeful and impactful PPS for future generations. During 2023, in envisioning that future PPS, we embarked on a piece of work that eventually crystallised in the mini-restructuring of some of our business areas and a set of strategic shifts that articulate the essence of our ambitions for the future. The benefit of defining these shifts is that our colleagues throughout the organisation can relate to those who are closest to their individual roles. Consequently, regardless of business unit, geography or functional role, PPS employees are practically aligned with how we intend the PPS purpose to show up in years to come. These strategic shifts guide our strategic agenda, particularly our five-year strategic plans. Some are internally oriented around how we operate and engage with members and advisers (internal focus); others are broader in their intention (external focus). Strategic shifts (relating to external focus) “Being serious about being mutual” is the shift which we believe will deliver added mutuality benefits to members in addition to the unique PPS Profit-Share Account™. As part of our mini-restructure during the year, we created and resourced a dedicated Mutuality capability to design, develop and embed mutuality throughout the organisation. “Creating the PPS Prism” is a shift within PPS to strengthen relationships with members and financial advisers. Our goal is for PPS to support members throughout their lives with access to specialists and support mechanisms. We aim to provide our financial advisers with top-ranked propositions by leveraging their strengths and our member relationships. This will help fortify the PPS ecosystem. We recognise PPS members’ integral role in South Africa’s future. Through our shift, “Paying it forward”, we aim to lead mutual growth. Sustainability is vital for personal, corporate and societal futures. Strategic execution pillars (themes) To ensure we deliver on our five-year strategic plans, we continue to organise our senior leadership team around strategic pillars and into strategic execution teams (SETs). These SETs have been in place for several years. Collectively, they have significantly accelerated our delivery of strategic objectives. In addition to accelerating execution, they have also proven to be excellent catalysts for keeping the different leadership teams aligned around the common objectives and for individual leadership development to be sustained. We shared seven strategic themes in previous reports, covering all aspects of our ecosystem. In 2023, we added Sustainability as an eighth focus area, recognising its importance to our business strategy. Sustainability now stands alongside our existing areas of focus, demonstrating our commitment to delivering long-term value to our members and stakeholders. We evaluate our sustainability objectives rigorously, benchmarking them against industry peers and best practices. Strategy 10
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