The contribution of corporate social investment to socio-economic development in South Africa.
Date
2014-09-03
Authors
Bwalya, Angela Chama.
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Abstract
ABSTRACT
Corporate Social Investment (CSI) in South Africa has been growing steadily over the past 12 years. This growth has presented abundant opportunity to make a meaningful contribution to the country‟s pressing socio-economic and developmental challenges. However, this does not automatically translate into a meaningful impact on the ground.
This study investigates how CSI can contribute to socio-economic development in South Africa. In-depth interviews were conducted by the researcher with managers responsible for CSI in selected South African organisations from the private sector, government and non-government organisations (NGO) sector, using uniform interview schedules for each sector.
Key findings revealed that CSI has immense potential to contribute to socio-economic development in South Africa. Government, private sector and NGOs play significant roles which are unique to the formation of a strong partnership that would enable contribution of CSI to socio-economic development. However, there is a need for a more strategic role for CSI and this also entails a shift from a predominantly reactive and passive approach to a more proactive and involved one among government, private sector, NGOs and the community to ensure sustainability.
CSI can be channelled to address socio-economic development by ensuring that it is informed by the needs of the communities and that targeted recipients are equipped to ensure the sustainability of interventions. Therefore, there should be a clear vision for CSI and definition of roles and responsibilities among the private sector, government, NGOs and the community.
It is recommended that the different actors in CSI collaborate to maximise the impact of CSI funding and consistent monitoring and evaluation of programmes to uphold integrity and ensure sustainability of CSI programmes. CSI programmes need to be in support of national government policies and priorities by ensuring that programme interventions are aligned to national goals and structures in order to contribute to socio-economic development.
Description
MM 2012
Keywords
Social responsibility of business, Community development.