• The capitals
• Reliability and completeness
• Stakeholder relationships

Key observations:

Nedbank’s business model is oriented around the capitals for both inputs and outputs, and clearly articulates the value it creates. Nedbank communicates its outcomes in a balanced way, in line with paragraph 3.44 of the IR Framework, using statistics to evidence the positive and negative outcomes for each capital group. The business model also highlights which stakeholders are impacted by business model outcomes. Nedbank communicates its ‘key drivers for change’, and uses statistics to provide clarity and substantiate its inputs and business activities.