Social Responsibility: HCI Foundation
The HCI Foundation is an independent trust, controlled by its trustees who include members of the HCI Board of Directors, employees from subsidiary companies of HCI, and independent experts who are able to add value to the specific areas of the Foundation’s work.
Led from its offices in Cape Town, the Foundation’s programme has extended its regional base to support selected social development initiatives nationally. The Foundation aims to facilitate change in marginalised communities through interactive partnerships in order to make a significant and enduring impact in those communities.
The Foundation has its own capital base and its programmes have a budget over and above the social spend of HCI and its group subsidiaries. We were extremely fortunate to inherit the Golden Arrow Foundation (“GAF”) which enabled us to build on its achievements and develop the corporate social responsibility initiative of HCI. The capital base of the Foundation was more than doubled by personal donations from HCI management, all of which has created a unique financial independence for the HCI Foundation, allowing the group to have an independent corporate social investment arm thereby deepening its national social impact. The capital base of the Foundation, which is currently over 7% of the market capitalization of HCI, allows us to contribute significantly relative to the size of HCI.
A further aim of the Foundation is to provide opportunities for education to employees of subsidiaries and associates of the HCI group, in particular through access to tertiary level education for dependents of company employees via the Foundation’s Bursary Programme. The Foundation has identified a number of areas in which it aims to make lasting and significant contributions to our society, and to this end supports education at all levels, youth development and empowerment, and sustainable projects which protect the environment.
NGO’s and individuals can apply for HCI assistance through Formex Industries’ HR Department.