Corporate Social Investment – Investment or bottomless pit?
Fish or nets, seed or food? Corporate Social Investment (CSI) raises many questions and some eyebrows.
The keyword has to be sustainability. Pumping funds into a project that will always be reliant on outside funding defeats the genuine idealism that supports it.
Black Economic Empowerment (BEE) compliance by companies demands investment in local and national projects. Throwing money at these projects is not the essence of BEE; investment has to be the priority, not guilt. A more structured criteria selection process coupled with stricter monitoring and follow-up would ensure better and more genuine support.
The use of CSI projects as marketing platforms for companies is at times blatant and surely detracts from the belief that companies are donating funds because they truly care.
Grindrod is taking a refreshingly new approach to its projects. “The main focus of our CSI projects is education. Education is the single most important investment that can be made to ensure future wealth and prosperity. Not just from an individual standpoint but more importantly from a nation building aspect”, says Alan Olivier CEO Grindrod Limited.
Involving staff in their projects has not only benefited the communities they are investing in, but the staff of Grindrod themselves.
“The many projects in which we are involved are less about us as a company and more about all of us as individuals. We pride ourselves in the continuing success of our projects and are always mindful that these projects are for the benefit of the community and not a mere chest-thumping opportunity for the company”, adds Mr Olivier.
CSI is not about charity, it is about providing the tools and resources to enable achievement, upliftment and sustainability.
Harmony and cooperation between NGO’s and business supported projects are essential. NGO’s have been servicing communities internationally for many years before the advent of BEE or CSI. Complimenting projects supported by NGO’s is often a good starting point for companies who are looking for established and well run projects that often benefit from additional resources.
A challenge to many companies supporting educational projects is quantifying their success. The measurement of success in such projects cannot be gauged purely by marks and certificates gained. An investment in education is an investment in an individual’s future. Career advice is an essential component.
Forward-thinking companies such as Grindrod are continually looking at ways to fine tune their CSI policies to the betterment of the communities they serve. The sustainability of such projects is paramount. The driving force behind Grindrod and the many other companies involved in such projects should be to provide the seeds and the nets to achieve it.
