OUR PERFORMANCE AGAINST OUR STRATEGY:

CREATING VALUE THROUGH THE CAPITALS

In this part of our annual report, we explain the value-creation processes of the NWU.

This entails outlining how we respond to our stakeholders' needs through our business activities, and how these activities lead to outputs and outcomes, which transform the value of our capitals.

There are six capitals, each one representing a different aspect of the value we create for ourselves and our stakeholders. We then assess our performance against these capitals to demonstrate how we are faring in achieving our strategic goals.