In keeping with the principle of co-operation, Iemas is an organisation in which service, professionalism and ethical conduct carry more weight than monetary value and where the focus is primarily on the member.
Despite the difficult macro-economic environment that prevailed for the past 12 months, Iemas remains sustainable. The financial performance has stabilised and Iemas achieved our budgeted net profit for the year.
The Iemas annual member benefit payments remain a wonderful event on our calendar as it illustrates Iemas’ commitment to its co-operative principles and the fact that we truly care about our members. We are proud that we are able to allocate nearly R110 million to members.
In a country where the unemployment rate is extremely high, we are proud that Iemas was able to create new jobs because our business has stabilised and contributed to employee growth with 10,1% in 2017.
Iemas’ Broad-Based Black Economic Empowerment status improved with one level to a level 3 contributor.
For more information, please click here to view the 2017 Annual Report.