‘Consider long-term value creation’

Innocent Ruwende Senior Reporter
Corporates have been urged to shift their focus from short-term profit consideration to long-term value creation built around corporate social responsibility (CSR), in order to regain public trust and confidence on markets.

Speaking at the Second Social Responsibility Awards dinner for the Harare Metropolitan Province last Friday, Energy and Power Development Minister Ambassador Simon Khaya Moyo said business was not all about returns but also ensuring healthy, productive and sustainable economies.

“Public trust and confidence in business and the markets have seriously been eroded. Many a company have on their walls a list of values one of which is CSR, but are they walking the talk? CSR should improve employment, quality of life and living standards,” he said.

“Let us build creative partnerships that will benefit both our business and the society at large. How can we assist the disadvantaged in our communities? Day-in, day-out as I drive to work, I see street kids on the streets. Government alone cannot do everything.”

He said it was the responsibility of individuals, civil society and organisations and business to contribute in efforts to reduce poverty, ensure environmental sustainability and provide decent living and working conditions. Ambassador Khaya Moyo said it was clear that none of the Sustainable Development Goals could be attained without the active involvement and engagement of business.

“At the same time, there is increasing realisation within business that it cannot survive or thrive if societies fail. Every company should weave the fabric of CSR into its operation. CSR should be a sustainable initiative not just one of those fads,” he said.

“We expect more organisations to extend their CSR activities to the development of our youth. This can be done through funding educational development programmes, engaging students on attachment and recruiting graduate trainees, thereby giving them an opportunity to learn the tricks of the job.”

Ambassador Khaya Moyo said for Government to meet Zim-Asset goals and objectives as regards to the sphere of poverty eradication, individuals, corporate and religious organisations need to partner with Government by engaging in community development programmes.