ANNUAL REPORTS

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Contents Business performance overview 2 Financial performance overview 3 Governor’s foreword 4 Board of Directors 6 Operational reports Chairman’s report 10 Group executive management 14 Organisational structure 16 Chief Executive Officer’s report 18 Macroeconomic overview 22 Development impact overview 26 Financial and development investment overview 30 abbreviations Treasury overview 38 Operations overview South Africa operations 40 Investment banking 46 International division 50 Development planning overview 56 Governance and management overview Corporate governance 60 Human capital 66 Risk management overview 68 Annual financial statements 73 Sustainability report 223 ACSA AFD BBBEE BRICS BSC CPI DBSA DFID EIB FICA GDP GRI HIV/Aids ICT IDC IT JIBAR MEGA MIG NEPAD PFMA SADC SAFCOL SAM TCTA UNOPS Airports Company South Africa Agence Française de Développement broad-based black economic empowerment Brazil, Russia, India, China and South Africa Balanced Scorecard Consumer Price Index Development Bank of Southern Africa Limited UK Department for International Development European Investment Bank Financial Intelligence Centre Act gross domestic product Global Reporting Initiative human immunodeficiency virus/acquired immune deficiency syndrome information and communication technology Industrial Development Corporation information technology Johannesburg Interbank Agreed Rate Mpumalanga Economic Growth Agency Municipal Infrastructure Grant New Partnership for Africa’s Development Public Finance Management Act Southern African Development Community South African Forestry Company Limited social accounting matrix Trans-Caledon Tunnel Authority United Nations Office for Project Services F The financial year of the DBSA is from 1 April to 31 March. Unless otherwise indicated, references to a combined year, for instance 2010/11, are to the financial year ended 31 March. DBSA | ANNUAL REPORT 2010/11
What is the Development Bank of Southern Africa about? The Development Bank of Southern Africa (DBSA) was established in 1983 to perform a broad economic development function within the homeland constitutional dispensation that prevailed at the time. In 1994, the new constitutional and economic dispensation in South Africa led to the transformation of the Bank’s role and function. In 1997, the DBSA was reconstituted as a development finance institution in terms of the Development Bank of Southern Africa Act, No. 13 of 1997. The constitution and conduct of the DBSA Board of Directors are primarily governed by the DBSA Act and further regulated by the Public Finance Management Act, No. 1 of 1999, and sections 284 to 303 of the Companies Act, No. 61 of 1973. Mandate The DBSA’s mandate is to provide financial, technical and other assistance to achieve the objects of the Bank as provided for in section 3 of the DBSA Act. The focus of its investment activities is on infrastructure funding, broadly defined, and it aims to act as a catalyst to maximise private sector access to opportunities in the provision of public funding. Objectives of the Bank The main objectives of the Bank are the promotion of economic development and growth, human resource development, institutional capacity building and the support of development projects in the region. Its ancillary objectives are to assist other international, national, regional and provincial initiatives in order to achieve an integrated finance system for development, and to assist national, international and private sector bodies in the management of specific funds. Vision A prosperous and integrated region, progressively free of poverty and dependency. Mission To advance development impact in the region by expanding access to development finance and effectively integrating and implementing sustainable development. • Provide and build human and institutional capacity • Promote broad-based economic growth (job creation, efficiency, fixed capital formation and regional integration) • Engender sustainability externally (environmental, social and economic) and internally (organisational) In support of the DBSA’s strategy, investments in infrastructure assets are made in the following three broad segments: • Social development and integration: Support the creation of sustainable living environments and alleviate basic services backlogs • Economic development: Support the growth of the economic base and employment opportunities • Institutional capacity building: Strengthen the institutional capability to deliver on national priorities Roles Financier To contribute to the delivery of basic services and promote economic growth through infrastructure funding: • Loans • Equity investments • Co-funding • Grants • Development expenditure Advisor To build institutional, financial and knowledge capacity for development: • External training • Subsidised lending • Technical assistance grants Partner To leverage private, public and community stakeholders in the development process: • Co-funding • Mobilise funding for clients Integrator To originate and facilitate key interventions for building capacity and providing development solutions. Strategic objectives • Catalyse, expand and enable the delivery of basic social services Implementer To mobilise and link stakeholders, resources and initiatives for sustainable development outcomes. 1 DBSA | ANNUAL REPORT 2010/11 DBSA | ANNUAL REPORT 2010/11 1
Page 1 and 2: A ANNUAL REPORTS 2010/11 DBSA | ANN
Page 3 and 4: BANK Financier, advisor, partner, i
Page 5: DBSA ANNUAL REPORT CHALLENGES resul
Page 9 and 10: Financial performance overview 5-ye
Page 11 and 12: “. . . the Bank is harnessing its
Page 13 and 14: 4. Mr ANDREW BORAINE (52) Chief Exe
Page 15 and 16: GOVERNOR‘S FOREWORD 9 DBSA | ANNU
Page 17 and 18: “In line with our renewed compact
Page 19 and 20: The Moses Kotane Community Water Su
Page 21 and 22: LETTERS TO THE STAKEHOLDERS | GOVER
Page 23 and 24: Newly renovated OR Tambo Internatio
Page 25 and 26: “ Economic growth and job creatio
Page 27 and 28: Board, while disbursements yielded
Page 29 and 30: other countries not hard hit by rec
Page 31 and 32: Kuzuku reserve
Page 33 and 34: Estimated impact on household incom
Page 35 and 36: OPERATIONAL REPORTS | development i
Page 37 and 38: Development investment A record lev
Page 39 and 40: R million Operating and development
Page 41 and 42: Equity investments comprise equitie
Page 43 and 44: Cost-to-income ratio, 2006/07 to 20
Page 45 and 46: Excluding the refinancing of money
Page 47 and 48: Operating environment Drivers of in
Page 49 and 50: Points of engagement Traditional ap
Page 51 and 52: The total value of loans disbursed
Page 53 and 54: Value of approvals per sector, 2010
Page 55 and 56: projects to upgrade and expand exis
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infrastructure master plan for the
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entails a win-win partnership with
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Similarly, the m6 million Project P
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esponsive economic infrastructure n
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and Growth Network”. The conferen
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The Board reports on performance an
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DBSA decision-making structure Boar
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Directors’ remuneration policy Th
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In addition to building internal ca
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The DBSA’s enterprise-wide risk m
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• Non-compliance with applicable
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Annual financial statements Content
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Report of the Audit Committee for t
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Report on other legal and regulator
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Performance information Balanced Sc
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Balanced Scorecard perspective: Sus
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Name Position Period During the yea
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Income statement for the year ended
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Hedging reserve Reserve for general
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Accounting policies for the year en
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Held-to-maturity financial assets H
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A hedging relationship exists where
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Reversals of impairment An impairme
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1.7 Share capital and reserves 1.7.
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The valuation techniques in (b) and
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1.13.4 Short-term employee benefits
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Notes to the annual financial state
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Investment Banking Treasury Reconci
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4. Financial liabilities by categor
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in thousands of rand 2011 Restated
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in thousands of rand 2011 18. Inves
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in thousands of rand 2011 22. Home
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24. Fair value hierarchy disclosure
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Valuations Land The land constitute
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in thousands of rand 2011 33. Share
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40. Related parties The DBSA is one
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Total 2011 R* 2010 Performance ince
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45. Non-current assets held-for-sal
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1-2 years 2-3 years 3-4 years 4-5 y
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Foreign currency exchange rate (FX)
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1-2 years 2-3 years 3-4 years 4-5 y
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The DBSA has structured the respons
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Note that the contractual liquidity
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(b) Other receivables in thousands
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For the purposes of calulating this
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BACKLOGS Implementer DEVELOPMENT FU
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FINANCIAL OVERVIEW What is the DBSA
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the Department of Rural Development
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“The Fund’s targeted programmes
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6. Mr AnDREw BORAIne (52) Chief Exe
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Managing Director’s report The So
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Managing Director’s report contin
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Divisional executive management 1.
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Operations overview The DBSA Develo
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Operations overview continued Measu
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Operations overview continued Numbe
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Operations overview continued Finan
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Operations overview continued The D
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Operations overview continued Agenc
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Operations overview continued Infra
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Operations overview continued • I
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Operations overview continued Coast
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Operations overview continued Integ
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Operations overview continued Ngang
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Operations overview continued Devel
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Operations overview continued As a
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Corporate governance The DBSA Devel
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Risk management The DBSA Developmen
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FINANCIAL OVERVIEW Annual financial
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Report of the Audit Committee for t
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Directors’ report for the year en
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Directors’ GOVERNOR‘S report FO
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Directors’ report continued for t
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Directors’ report continued for t
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Statement of financial position as
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Statement of changes in funding res
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Accounting policies for the year en
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The goal of sustainable development
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Keiskammahoek
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Sustainability report continued (GR
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Sustainability report continued Gov
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Sustainability report continued The
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Sustainability report continued Eco
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Sustainability report continued Pro
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234 Notes
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www.dbsa.org
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ANNUAL REPORTS

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