Transformation and giving back are strategic focus areas for Citadel. This encompasses large initiatives that include driving transformational change within the financial services industry, to the smaller things that make a difference in the most meaningful way.
Citadel, together with its parent company Peregrine Holdings, is involved in a black ownership initiative called Nala, which highlights the company’s commitment to B-BBEE. This is achieved through high-impact Socio Economic Development (SED) projects that include education, community development and an investment trust for Citadel’s black employees. Nala owns a 20% stake in Peregrine Holdings.
Not only is the Citadel Philanthropy Foundation (CPF) the first donor-advised fund of its kind in South Africa, it is also involved in using its influence to ensure that worthy causes are promoted.
Charities undergo a series of due-diligence assessments in order to be approved as organisations that will work well within the Citadel philosophy of giving back. CPF acts as a conduit that makes it easier for individuals and companies to be able to give back.
Citadel Philanthropy is also the main sponsor of the annual charity auction, A night with Ronan Keating. About R2.5 million has been raised at the last two auctions.
The proceeds of the charity auctions go towards the Red Cross War Memorial Children’s Hospital Oncology Unit.
EMPLOYEES MAKING A DIFFERENCE
In addition to our transformation and SED initiatives, Citadel and its employees are also generous in their time, money and skills when it comes to smaller projects.
Initiatives are driven by employees who have identified a need in their community. Citadelions work together to deliver on projects that touch everyday lives.
THE DIGNITY KITTY
The Dignity Kitty is aimed at designated Citadel employees who need extra financial help in times of need, for example with the education of their children or unexpected medical costs.