Corporates that Care: The importance of corporate social investment (CSI)
The Money Show broadcasts live from a 'Corporates that Care' event being held in Durban in KZN.
Archive image: Upskilling, training. Wikimedia Commons/Aristidek5maya
The Money Show's Stephen Grootes chats to Thulisile Galelekile from Trade & Investment KwaZulu-Natal.
Corporate social investment (CSI), or the practice of companies contributing to social development, is becoming more important around the world to help empower vulnerable citizens.
The 'Corporates that Care' CSI initiative was launched by Primedia last year as part of its 'Primedia Cares' programme.
Broadcasting live from an event in Durban, Stephen Grootes talked to a number of the companies represented there under the inititative.
He also spoke to Thulisile Galelekile from Trade & Investment KwaZulu-Natal, which markets the province as an investment destination.
CSI goes beyond merely giving handouts, says the entity's executive manager for Strategy and Operations.
Galelekile highlights two important components - having an impact on communities, and sustaining that impact.
"It starts with the programmes we put in place via our CSI platforms to ensure that we are able to bring meaningful change. It also talks to the things we do in terms of upskilling people so that they are able to be self-sufficient."
Thulisile Galelekile, Executive Manager: Strategy and Operations - Trade & Investment KZN
"It's also about sustainability... so that when we are gone the people that are left behind are able to continue to sustain themselves."
Thulisile Galelekile, Executive Manager: Strategy and Operations - Trade & Investment KZN
Grootes notes that some of South Africa's biggest companies are headquartered in KwaZulu-Natal, like Mr Price and Spar.
The fact that corporates like these have not moved to other provinces is testament to what KZN has to offer business, says Galelekile.
"We have a lot on offer as a value proposition. Our labour force is still young, in terms of infrastruture we have two major ports and our climate is conducive for many things."
Thulisile Galelekile, Executive Manager: Strategy and Operations - Trade & Investment KZN
"These companies contribute significantly to the provincial economy in areas like creating jobs and driving localisation."
Thulisile Galelekile, Executive Manager: Strategy and Operations - Trade & Investment KZN
Scroll up to the audio player to listen to the interview