Our Material Issues
KCB Group undertakes annual materiality reviews that assist in prioritizing our strategy policies and action plans in the area of ESG. Our material issues assessment is part of a wider set of stakeholder engagement process undertaken by the Group. The results of the materiality assessment informed the strategic themes and form the basis of this report. Methodology and findings of our latest assessment are described below:
To establish a KCB perspective on material issues affecting the Group, cross-functional staff were invited to participate in a materiality workshop where they discussed issues that may hamper KCB from achieving its strategy. Access to external stakeholders was made through other engagements held in the course of the year. A light touch review of the outcomes of these engagements at the time of the workshop did not reveal any substantial difference.
The issues were grouped into 7 broad categories and the most recurrent, assumed to have higher importance. The summary of the categorization is tabulated below:
Collation & Prioritization
The output from both engagements was then collated and similar issues combined to one descriptor e.g. P2P (Procure-to-Pay) comprised of procurement processes, payment processes, turnaround time, onboarding processes of suppliers among others. This process yielded 21 unique descriptors each aligned to one of the 7 broad categories aforementioned and highlighted on page 17. Ranking the importance of the categories was based on the frequency with which they were alluded to during the workshop. The frequency of these mentions formed the KCB perception while the light touch review was aligned to the 7 categories, resulting in the formation of the stakeholder perception.