The Olu of Warri, Ogiame Atuwatse III, has deplored the rising poverty of the people of the Niger Delta where the oil wealth of the nation comes from.
The monarch raised the concern in his speech at the Africa Leadership Summit, organized by the Africa Leadership organization in London, saying too many communities under his jurisdiction grapple with poverty, lack of access to education, accessible healthcare, and environmental pollution.
Speaking on the topic, ‘Business Beyond Profits: Expanding the Frontiers of Corporate Social Responsibility (CSR) and Community Development for Africa’s Development,’ the traditional ruler expressed dismay that year after year, companies engage in corporate social responsibility activities across communities in the region but will make little impact.
He said, “Today, African businesses are thriving and our entrepreneurs are still ambitious. However, a deep societal linkage and community upliftment through business is less prevalent. Indeed, the pursuit of profit, while essential, has drawbacks.
“I reign over a kingdom with one of the largest oil and gas activities in the country. However, in our communities, we’ve seen the growing gap in inequality, environmental degradation, and missed opportunities for societal advancement. Too many of our communities grapple with poverty, lack of access to education, accessible healthcare, and environmental pollution amongst many other issues.
“Yet, year after year, companies engage in corporate social responsibility activities across communities. So, why are the large budgets dedicated to activities and donations not doing much to move the needle of our continent’s development? For far too long, we’ve done CSR as charity, following a model that treats CSR as an act of philanthropy rather than a core part of business strategy.
“This often leads to one-off, superficial activities that fail to deliver lasting impact. If, instead, we craft CSR as an integral part of our business strategies, aligned with our core operations and value proposition, we can create lasting, scalable impact while also strengthening our businesses.”
While stressing the need for government to create an enabling environment that encourages and rewards socially responsible business practices, The Olu said beyond seeing businesses as catalysts for societal transformation, “We must also embrace the fact that societal development and business success are not mutually exclusive, but rather intertwined”.
“In envisioning the future of community development in Africa, I see a continent transformed by the power of business beyond profits. I see African businesses, governments, and communities hand in hand, driven not only by the pursuit of economic gain but by a shared commitment to lifting our continent. I envision African communities actively shaping their destinies, harnessing the resources and opportunities unlocked by CSR initiatives carefully tailored to their needs and aspirations.
“The journey towards this future begins today with us. To the business leaders here, I implore you to redefine your business success beyond the bottom line. Embed social responsibility into your core business strategy. Seek partnerships and invest in initiatives that address the pressing needs of our communities. And remember, transparency and accountability are your allies.
“Government officials, you have a pivotal role to play. Create an enabling environment that encourages and rewards socially responsible business practices. Your policies can catalyze the impact we need. And let’s collaborate more, bridging the gap between the public and private sectors to achieve a common good.
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