South Africa’s Most Generous Companies Are….
Despite tough trading conditions across nearly every sector of South Africa’s economy, there are still companies who continue to demonstrate a commitment to corporate social investment (CSI). Here are South Africa’s most generous companies…
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Speaking at the 10th annual Business in Society Conference in Johannesburg during May, Cathy Duff, director of consultancy firm, Trialogue said that CSI expenditure in South Africa totalled R8.6 billion in 2016‚ significantly up from R2.9 billion in 2006. Discussing trends over the past 10 years‚ Duff shared research in which 82 companies and 219 non-profit organisations were surveyed. Anglo American has retained its position as the company perceived to be having the most developmental impact – and was rated first in 2016. Other companies that have been in the top 10 across the years include SAB‚ Old Mutual‚ MTN and Telkom.
Non-cash giving as a portion of total CSI spend increased over the 10 year period – from 6% in 2006 to 13% in 2016. Product and service donations accounted for the vast majority of this. In 2016‚ 29 companies reported donation figures equal to 19% of their total giving. By comparison‚ 11 companies quantified the value of their employees’ volunteering time‚ which accounted for less than 1% of total giving. CSI expenditure continues to be concentrated nationally (37%)‚ in Gauteng (20%)‚ and in the Western Cape (11%). Educational institutions and schools received the most support in 2016‚ with over 90% of companies supporting the sector‚ and its share of CSI spend increasing from 33% to 48% over the past ten years. A total of 80% of corporates supported government institutions – schools‚ universities‚ hospitals and clinics – in 2016, equalling a third of total CSI spend (34%). This is significantly up from 27% in 2011. The support includes scholarships and bursaries. It is followed by support for community development (15%) and health (9%) – the latter dropping 7% from 2006. Within education‚ most funding continues to go to school-level education (51%). Support for early childhood development has increased to 17% in 2016. Article first appeared on in The Sunday Times Business (18 May 2017), click here to read it.
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