Business And Entrepreneurial Development As CSR
The recent 2022, 19th National Productivity Day and award to eminent individuals and organisations by Nigeria government and reward system in some ways symbolize CSR. Coincidentally the education sector had downed tools several weeks prior to the Day. That raises the question how productive is such a critical sector which influences all other sectors?Perhaps the most critical economic challenge facing all African countries is low productivity, especially at their industrial sectors due to infrastructural deficit or decay. Yet some of them strive to excellence and recognition.
As more and more corporations use CSR to impact their environments and stakeholders there are trends that have emerged since Covid-19. It has become common practice by organisations use virtual community groups to reach wider audience on causes and consumers. They have more than before realized that it is important to measure the impact of CSR perhaps more accurately. And thirdly more corporations have become more conscious about overtly taking a stand on current issues.
One of the organisations that scaled the hurdle to excel is Dangote group. According to ONE.org report, CEO Dangote Group Aliko Dangote has, in the last 30 years turned his enterprise into the largest business conglomerate in West Africa, with a market capitalization of $15.5 billion. He is also the largest private employer in Nigeria.
The group’s website posted: “The Dangote Foundation is the Corporate Social Responsibility arm of Dangote Group. The Foundation is responsible for contributing over $100 million in charitable funds to several causes in Nigeria and Africa over the past four years”. “The Group is now one of the largest manufacturing conglomerates in sub-Saharan Africa and is pursuing further backward integration alongside an expansion programme in existing and new sectors.” It reported as well that ADF is the largest foundation in Africa with an endowment of $1.25 billion.
In 2020 Dangote Group was adjudged best Company in Corporate Social Responsibility (CSR) by Public Relations (NIPR) professionals in Lagos State, on efforts to help the vulnerable at the height of the COVID-19 pandemic. The group was further commended as: ‘Best Company in Infrastructure Development’.
Tackling the challenges of work habit, cultural barriers, human psychology and human capital development would enhance high productivity and CSR posture of business organisations in Africa.
IKECHUKWU O. ODOEMELAM ia a Corporate Attorney/Consultant @ IKECHUKWU O. ODOEMELAM & CO