Connect with us

Corporate Citizenship

U.S. firms spend N1.5bn on CSR in Nigeria in 2017 – Official

Published

on

L-R: Brent Omdahl, U.S Commercial Counsellor, Otunba Oluwatoyin Akomolafe, President, Nigerian-American Chamber of Commerce (NACC), Dr Lazarus Angbazo, Chief Executive Officer, General Electric (GE) Nigeria, Russell Brooks, Public Affairs Officer, U.S Consulate, and Ms Joyce Akpata, Director-General, Nigerian-American Chamber of Commerce (NACC), .

 

Dr Lazarus Angbazo, President, American Business Council (ABC), on Wednesday said that American companies spent about N1.5 billion on Corporate Social  Responsibility (CSR) projects in Nigeria in 2017.

Angbazo, who is also the Chief Executive Officer, General Electric Nigeria, spoke in Lagos at the November Edition of Breakfast Meeting of the Nigerian-American Chamber of Commerce (NACC).

Theme of the meeting was: “Beyond Business: The Social Impact of American Businesses in Nigeria.”

“ U.S companies spent N1.5 billion on Corporate Social Responsibility (CSR) from N217 million spent in 2016.

“The focus areas are Education, Health, Infrastructure and Social intervention, which are key area of focus for U.S companies in Nigeria,” he said.

According to him, the notion of social impact goes beyond philanthropy and volunteerism,  saying  that value chain development through SMEs is the way to lift a country economically.

“Asides providing direct employment in Nigeria, we are actively developing SMEs to be part of our supply chain, because SMEs cannot grow without the experience, capacity and off take support of global companies.

“We get to spread inclusivity in the economy because local companies will hire from their local communities and they will specialise in that area; that is the way to think about long term sustainable industrialisation,” he said.

Angbazo said that over N1.6 billion was expended on training and development in 2017 from N340 million in 2016, which shows U.S companies commitment in capacity building to correct the deficit in Nigeria’s labour skills.

He said that U.S companies created about 11, 200 indirect jobs and over 9, 000 full time jobs in 2017 toward reducing Nigeria’s unemployment rate.

Also, Brent Omdahl, a U.S Commercial Counsellor, said that the advice of U.S Government to potential and existing companies to Nigeria and Africa was to utilise the solution-based approach in their investment strategy.

Omdahl said that investment should not be profit centered alone, but on impacting the socioeconomic landscape of the host economies through value addition, job creation, technology transfer and skills upgrade.

Mr Adil Farhat, the Managing Director, Procter & Gamble, said that the company had been in Nigeria for over 25 years and working assiduously to ensure that its various brands have positive socioeconomic impact on all sectors of its operation.

Farhat said that P&G trained over 100 SME operators in business development, products expansion and profit enhancement strategy to boost SME development.

Also, Mr Innocent Chukwuma, the Director, West Africa, Ford Foundation, said that the foundation does catalytic investment in areas that large organisations would not venture into.

“Our grant support of 150,000 dollars to drive social impact and enhance productivity of Made in Nigeria products among Aba leather manufacturers made Bank of Industry (BoI) to commit N400 million to support the project,” he said.

Chukwuma said that the foundation would embark on one billion dollar mission support projects to provide finance at below one per cent to entrepreneurs in the areas of affordable housing and renewable energy.

Earlier, Otunba Oluwatoyin Akomolafe, President, Nigerian-American Chamber of Commerce (NACC), said that it was becoming clear that the traditional ways of solving problems through government alone was not effective.

He said that global companies were challenging the notion of profit first, saying that while profit making was good, the social impact was more beneficial to transform citizens, communities and socio-economic development. (NAN)

Corporate Citizenship

Dangote gets Top 5 Recognition in ‘Most Responsible Business In Africa’ Category

Published

on

By

Dangote Group was also named by SERAS one of the Top 5 “Most Responsible Business in Africa/Overall Winner”

LAGOS, Nigeria, December 7, 2018 In recognition of its 2017 Sustainability Report and significant progress in Sustainability Best Practices and Reporting in 2018, Dangote Industries Limited (DIL) (www.Dangote.com) received two awards at the 12th edition of the annual Sustainability Enterprise and Responsibility Awards (SERAS), which took place in Lagos Nigeria.

Two DIL subsidiaries received the SERAS Sustainability Awards for ‘Best Company in Hunger & Food Security’ as well as ‘Best in Supply Chain Management’ categories. In special recognition of its pioneering Sustainability Journey in 2018, Dangote Group was also named by SERAS one of the Top 5 “Most Responsible Business in Africa/Overall Winner.”

The conglomerate also received two Certificates of Recognition for the work of its Sustainability & Governance Function, which is responsible for embedding a culture of sustainability across the Group, tagged “The Dangote Way”.

The founder of SERAS, Dr. Ken Egbas, acknowledged the visible and inspiring impact of the Dangote Way, which Dangote Group President, Aliko Dangote has described as “our unique approach towards engendering sustainability across all our operations, at the core of our procedures and corporate culture, indicative of our absolute commitment to sustainability; powered by the highest levels of governance.”

Group Chief Sustainability and Governance Officer, Dr. Ndidi Nnoli; Group Head, Human Assets Management and Admin., Dangote Cement Plc, Dr. Musa Rabiu; Senior Adviser, Stakeholder Relations, DIL, Fatima Wali-Abdurrahman; General Manager /Head Sustainability, Dangote Cement Plc, Eunice Sampson; and Mr. Abimbola Akosile of the Corporate Communications Department, all Sustainability Champions, received the Awards.

The Dangote Way underlines the importance of People and Stakeholder Engagement on its journey towards better financial performance through responsible and sustainable business practices.

Dangote’s seven pillars of sustainability include the Economic, Social, Environmental, Financial, Cultural, Operational and Institutional (encompassing Governance, Risk, Compliance), which are aligned with the GRI Standard, Global Compact, IFC Performance Standards and SDGs, and are designed to ensure sustainability data embeds at the core of business processes and corporate culture, to demonstrate a clear business case for operationalizing sustainability best practices.

During the Dangote Sustainability Week, held in tandem with the United Nations General Assembly, hundreds of employees volunteered to further the Sustainable Development Goals across Dangote Cement Plants in 12 cities across Africa: Ghana, Congo, Ethiopia, Cameroon, Tanzania, Senegal, Zambia and Nigeria’s Cement plants located at Obajana (Kogi State), Ibeshe (Ogun State) which cleaned up the Ajibese community and Gboko (Benue State).

 

SOURCE Dangote Group

Continue Reading

Corporate Citizenship

African Development Bank, Big Win Philanthropy, Dangote Foundation launch ambitious plan to improve child nutrition, fight stunting

Published

on

By

Objective: to contribute to a 40% reduction in stunting in African children aged under 5 by 2025

Working with Big Win Philanthropy and Aliko Dangote Foundation, the African Development Bank has unveiled a new Multi-Sectoral Nutrition Action Plan that aims at raising investments towards reducing stunting by 40% in African children aged under 5 by 2025.

Africa loses $25 billion per year in costs attributed to child morbidity and mortality, impaired cognitive, physical, and economic development caused by malnutrition. Yet these losses are almost entirely preventable.

The ambitious Action Plan is looking for additional support and commitments from governments for nutrition.

Jennifer Blanke, Vice-President, Agriculture, Human and Social Development at the African Development Bank, stressed the importance of engaging energetically and substantially with the private sector, “if we want to achieve long-lasting results.”

Through the Multi-Sectoral Nutrition Action Plan, the Bank commits to scale up the proportion of investments that are ‘nutrition-smart’ in agriculture, water, sanitation and hygiene, social and health sectors.

“In terms of human development, nutrition is as important as investments in infrastructure and power in stimulating economic growth. Big Win Philanthropy is thrilled with President Adesina’s leadership in giving greater priority to nutrition and the wider human capital investment agenda,” said Jamie Cooper, Chair and President, Big Win Philanthropy.

“By leveraging investments across five sectors, and encouraging its member countries to do the same, the African Development Bank is achieving ‘double wins’ for every dollar spent: improving lives and generating economic growth.”

Nutrition is inextricably linked to the Bank’s High 5 priorities: nutrition-smart investments could be catalytic for realizing equitable growth agenda.

Speaking at the launch, Chief Executive Officer of Dangote Foundation, Zouera Youssoufou, said, “We know we cannot do this by ourselves, so it made sense to put money at the African Development Bank to develop this nutrition strategy. We are really happy to see the strategy come together following a two-year journey.”

In 2017, more than a third of the world’s stunted children under the age of five lived in Africa with stunting rates ranging from 35.6% in East Africa to 32.1%, 29.9%, 29.1%, and 17.3% in Central Africa, West Africa, Southern Africa and Northern Africa respectively, according to the Plan, which also revealed that Africa is the only region in the world where the number of stunted children has risen in the past few years.

The Plan will focus on integrating nutrition smart interventions into projects in the Bank’s extensive agriculture pipeline. The Bank’s Feed Africa Strategy executes the Comprehensive Africa Agriculture Development Programme (CAADP) goals of contributing to elimination of extreme hunger, malnutrition, and poverty. In addition to improved productivity, the Action Plan looks into the potential to nourish Africa, by including commodity value chains that offer broad-based nutrition value, instead of just calories.

This will include leveraging flagship initiatives including Technologies for African Agricultural Transformation (TAAT), the Staple Crop Processing Zones Programme, and Integrated Agro-Industrial Parks.

To realise its human and economic potential, Africa must invest in nutrition – particularly during the 1,000 days between conception and the age of two – as a crucial foundation for productivity later in life, said Oley Dibba-Wadda, the Bank’s Director Human Capital, Youth and Skills Development Department.

“The African continent has the potential to become a powerhouse of productivity in the 21st century but cannot sustain rates of economic growth and at the same time integrate its burgeoning youth population without addressing these high rates of stunting.”

The Bank is strengthening political engagement and building partnerships by enlisting Heads of State, ministers, and eminent leaders as champions to spur and build a high-level political movement and leadership for nutrition, known as the African Leaders for Nutrition (ALN), which was endorsed by the Assembly of Heads of State and Governments of the African Union (AU) at the 30th Ordinary AU Summit, held in Addis Ababa, Ethiopia on 31 January 2018.

African Development Bank

Continue Reading

Afripreneur

Sahara Foundation Empowers 30 Entrepreneurs To Mark World Entrepreneurship Month

Published

on

By

Beneficiaries of #StartUpNation photographed with the organizers in Lagos, Nigeria.

 

November is celebrated globally every year as the Entrepreneurship Month. It is a period to celebrate men and women who brave all odds to take smart risks in business – an informed leap in the dark if you will – to create value.

StartUps are gaining traction across the globe as more people continue to embrace the challenge of carving a niche for their business ideas. Particularly noteworthy and deserving of commendation are the young people who have taken the bull by the horns by starting, running and sustaining businesses in climes with peculiar economic challenges.

Sahara Group is delighted to celebrate these heroes who would ultimately emerge as icons and business leaders.

Having spent the month of November showcasing innovative business solutions by entrepreneurs across various sectors, Sahara Foundation organized an Entrepreneurship Workshop to help beneficiaries lay a solid foundation for their businesses.

Themed StartUp Nation, the one day workshop hosted 30 young entrepreneurs to five transformative sessions with accomplished professionals and entrepreneurs as facilitators. The entrepreneurs who were selected via the Foundation’s digital platform for young innovators and entrepreneurs – www.saharahub.com – were exposed to business rudiments as well as knowledge and information for growing their businesses.

Olumuyiwa Adebayo, CFA Head, Group Finance,  Sahara Group during a session at #StartUpNation
Olumuyiwa Adebayo, CFA Head, Group Finance, Sahara Group leading a session at #StartUpNation

The workshop sessions included topics on finance, business funding, branding, social media use for business and starting and growing a business with currently available resources.

Ivie Imasogie- Adigun, Group Head, Human Resources, Sahara Group set the tone for the workshop with a thought-provoking opening remark. “Entrepreneurs are people who pursue their dreams passionately and are never afraid to fail. This tenacity ultimately equips them for the journey ahead, paving the way for success as long as they remain focused, innovative and determined. This is a path we have been through and continue to develop at Sahara Group and we are delighted to support young people to realise their dreams,” she counselled.

Beneficiary at #StartUpNation
Beneficiary at #StartUpNation

The Facilitators included Olumuyiwa Adebayo, Head, Sahara Group Finance; Oyindamola Johnson, an African Union Youth Champion; Omolabake Bode-Matthew, a successful entrepreneur; Adenike Bamigbade, Digital Marketing Expert; and Tunji Andrew, a serial entrepreneur, radio show host and investor. Their sessions were engaging, practical and resourceful.

In what could have easily passed for a mini-MBA, the participants were schooled and practically shown the way to navigate business terrains with particular reference to the Nigerian market.

 Oyindamola Johnson - Curator, Elevate Your Game
Oyindamola Johnson – Curator, Elevate Your Game at #StartUpNation

Citing the entrepreneurial trajectory of Sahara Group, Mrs. Pearl Uzokwe, Director of Governance & Sustainability, closed the session by assuring the entrepreneurs that they had the potential of becoming the next big businesses. “Sahara Group was founded by three entrepreneurs 22 years ago and today the business has become a global conglomerate operating in 38 countries across Africa, Asia, the Middle East and Europe. We believe you are on the right path and Sahara Group will continue to support young entrepreneurs through the SaharaHub and similar initiatives. StartUps and small businesses are critical for economic growth and development and we remain committed to providing platforms for small businesses to thrive and grow.”

Sahara Foundation Manager, Oluseyi Ojurongbe stated that the empowerment project was the first of many more platforms to support young entrepreneurs with the tools, resources, networks, and funds needed to grow their businesses. “This is the thrust of Sahara Foundation’s Extrapreneurship drive,” he added.

 

SAHARA GROUP

Continue Reading

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,401 other subscribers

Most Viewed