Engaging with our stakeholders is a fundamental part of how we do business
As of 31 December 2019, we employed 203 people across the Group, including 134 in Nigeria, 24 in Niger and 26 in our London head office. We have an experienced, diverse and dedicated workforce which we recognise as a key asset of our business. Our employees embody our culture and are key in executing our strategy and ultimately delivering the long-term, sustainable success of the Company.
How we engage
We have an open, collaborative and inclusive management structure and engage regularly with our employees. We do this through an appraisal process, structured career conversations, regular town hall sessions, employee surveys, a new corporate intranet site, company presentations, away days and our training and well-being programme. In early 2020, we introduced a new functional matrix organisational structure for the enlarged Group with clear reporting lines and accountability.
Our Host Countries and Communities
Our host countries are Nigeria and Niger located in West Africa. We work closely with the local communities in which we operate in both countries. In South East Nigeria we work with 252 local communities in Akwa Ibom State and Cross Rivers State. In Niger we work with 13 local communities in and around NGourti within the Diffa region, which is located in the extreme south-east of the country.
How we engage
We engage with the local communities in which we operate via our social impact programmes in Nigeria and Niger and maintain our social licence to operate through ensuring that our policies regarding safety, environmental and human rights are followed to the highest standards in our operations, projects and activities. Our social impact investment focuses on improving local living standards, via health, education and agricultural initiatives, as well as the provision of potable water and local infrastructure projects. Our projects also provide skills training to foster future economic self-sufficiency. In addition, we have implemented a local content policy designed to ensure that wherever possible we use local suppliers and employ local people. We also liaise with local government bodies and select non-governmental organisations to enhance the positive impact we have on the communities and environment in which we operate.
Governments, Local Authorities and Regulators
We engage with over 40 stakeholders within the Federal, State and Local Government as well as other national entities in Nigeria. In Niger, we engage with over 50 stakeholders within the national government and local authorities, including the chiefs of the 13 tribes located within our asset areas. In the UK we engage with various governmental departments primarily those providing assistance and support to UK companies operating abroad.
How we engage
We take a constructive and positive approach to working with national and local authorities, as well as regulators, and seek to maintain constructive relationships with all. We contribute to government and local authorities in the countries in which we operate in the form of royalties, taxes and fees every year. Our cumulative payments to local governments in Nigeria and Niger since 2014 were US$139 million.
Our Shareholders and Lenders
Our shareholders comprise both institutional and retail investors who are principally based in the UK and US. Our top 20 institutional shareholders account for nearly 80% of our shareholder base.
We have a group of 12 lenders at the Nigerian Asset level, comprised of Nigeria and UK-based banks and institutions, together with Orabank who provide a revolving loan facility to the Company in Niger.
How we engage
Through our investor relations programme, which includes regular updates, calls, meetings, investor roadshows and our Annual General Meeting, we ensure that shareholders’ views are communicated to our Board and considered in our decision-making.
Similarly, through regular engagement with our banks and lenders, we ensure that their views are taken into account and communicated to our Board and management as necessary. We have in place comprehensive policies and procedures to ensure compliance with international standards and local laws.
Our Customers, Suppliers and Partners
Our customers in Nigeria include the Calabar National Integrated Power Project, the Unicem cement factory, Ibom Power and First Independent Power Limited.
Our partners include: African Infrastructure Investment Managers, who hold a 20% interest in each of Accugas and Seven Uquo Gas Limited; and Sinopec International Petroleum Exploration and Production Company Nigeria Limited, our 49% partner in the Stubb Creek field. We export our crude oil and condensate via ExxonMobil Corporation’s Qua Iboe oil export terminal in Nigeria. We work with a wide range of suppliers in Nigeria, Niger and the UK.
How we engage
We recognise that our customers, suppliers and strategic partners are crucial to our existence and we invest in our relationships with them to make Savannah a business partner of choice. Our senior management engages in regular meetings with our customers, strategic partners and suppliers.
Savannah also participates in local industry events to establish and maintain relationships with suppliers and customers.