CSI Disbursements

Corporate Social Investment (CSI) is an investment in individuals and the communities in which they live, and EEC recognises CSI as a business imperative that must be carried out to achieve sustainable positive outcomes. EEC is, therefore, committed to creating value for all the related stakeholders, where possible, by delivering programmes in 5 focus areas.

a) Education,

b) Health,

c) Social and Economic Development,

d) Environment and,

e) Safety and Security.

The EEC CSI disbursement process ensures the controlled release of approved funds or support, promoting accountability, impact, and alignment with CSI objectives.

Disbursement Process Summary

How the EEC CSI Disbursement Process Works

3 KEY STAGES WITHIN OUR 7-STEP PROCESS.

WHAT AN APPLICATE NEEDS TO KNOW

1. Application and Assessment

Before funds are released:

Step 1. Beneficiaries submit a formal CSI application (www.eec.co.sz/aboutus/csi/ ) with required documents.

Step 2. EEC assesses applications against the alignment of the 5 focus areas.

Step 3. Internal approvals are obtained by the CSI Committee/Management and the outcome is finalised, the project is either approved or declined.

2. Approval and Disbursement Terms

In the event a project is approved.

Step 1. An approval letter is issued stating,

  1. Approved amount or type of support.
  2. Purpose of funds.
  3. Disbursement conditions.
  4. Reporting requirements.

Step 2. A CSI agreement may be signed outlining,

  1. Roles and responsibilities.
  2. Use of funds.
  3. Monitoring and evaluation expectations.

3. Disbursement Methods

CSI support can be disbursed in one of 2 ways depending on risk and the project nature.

  1.  Direct Financial Disbursement - Funds are transferred to the beneficiary’s bank account, usually done,
    • Once-off for small projects.
    • In tranches/milestones for larger projects.
  2.  Service-Based Support
  • EEC pays service providers directly on behalf of the beneficiary, common for construction, electrification, or technical work.

POINT OF NOTE:

EEC’s CSI contributions are directed towards initiatives that benefit groups of people, such as communities and schools. Therefore, the Company does not provide bursaries or scholarships to individuals.