Businesses Challenged to be More Proactive in Addressing Socio-economic Issues

15th January 2013 …….,The Global Head of Corporate Citizenship at KPMG, Lord Michael Hastings has challenged corporates to step up their involvement in the creation of a more equitable society. Hastings who was addressing business and public sector leaders at a Safaricom Foundation Corporate Social Investment (CSI) workshop noted that over reliance on government funds is hampering socio economic growth.

The roundtable meeting which was attended by Planning Minister Wycliffe Oparanya and Mugo Kibati, Director General Vision 2030 discussed some of the best practices in CSI globally. The meeting also examined the value and impact of CSI programmes in Kenya on Vision 2030 and the attainment of the Millennium Development Goals.

"While we look to governments for interventions and to provide solutions to global dilemmas, governments are increasingly facing a lack of resources and inadequate leadership capacity. It is therefore the turn of businesses to attack these issues with determination since successful corporations are concerned about the communities they operate in," he said. 

Speaking during the workshop, Safaricom Foundation Chairman Joseph Ogutu challenged corporates to develop strategies that promote sustainable community owned projects in order to have a meaningful and lasting impact. Citing the importance of a strong regulatory framework to guide CSI in Kenya, he said, "Now that many organisations have heeded the call to invest in CSI, it is also time to engage the government to discuss the importance of a regulatory framework and reporting requirements for CSI in Kenya to ensure that the requisite incentives are put in place," said Ogutu.

"By upholding the right values and taking radical steps, corporations have the power to drive change in the world. It is therefore time for a paradigm shift; for businesses to take the lead and engage governments and aid agencies at a much higher level because that is responsible capitalism," he concluded. 

Notes to the Editor

Safaricom Corporate

Safaricom provides a comprehensive range of services under one roof. This includes mobile and fixed voice and data services on a variety of platforms. With annual revenues in excess of Kshs 100 billion, it is Kenya's widest 3G network with a growing fibre optic cable footprint and its most expansive WIMAX presence

Safaricom pioneered commercial mobile money transfer globally through M-PESA, the most successful such service anywhere in the world. Launched in March 2007 as a money transfer service, it now has over 15 million customers and over 37,000 Agent outlets countrywide. 

Safaricom Foundation

The Safaricom Foundation is a registered charitable trust, and is the Corporate Social Investment arm of Safaricom Limited. Since its inception in 2003, it has disbursed Kshs.1.5 Billion towards various social projects that provide sustainable solutions to the most pressing social challenges. Its focus areas are Education; Health; Economic Empowerment; Environmental Conservation; Arts and Culture and Sports. The Foundation also responds to disasters and humanitarian emergencies as they arise. Safaricom Foundation's strategic directions contribute towards Kenya's development agenda and the Millennium Development Goals. Website: www.safaricomfoundation.org. 

15th January 2013 …….,The Global Head of Corporate Citizenship at KPMG, Lord Michael Hastings has challenged corporates to step up their involvement in the creation of a more equitable society. Hastings who was addressing business and public sector leaders at a Safaricom Foundation Corporate Social Investment (CSI) workshop noted that over reliance on government funds is hampering socio economic growth.

The roundtable meeting which was attended by Planning Minister Wycliffe Oparanya and Mugo Kibati, Director General Vision 2030 discussed some of the best practices in CSI globally. The meeting also examined the value and impact of CSI programmes in Kenya on Vision 2030 and the attainment of the Millennium Development Goals.

"While we look to governments for interventions and to provide solutions to global dilemmas, governments are increasingly facing a lack of resources and inadequate leadership capacity. It is therefore the turn of businesses to attack these issues with determination since successful corporations are concerned about the communities they operate in," he said. 

Speaking during the workshop, Safaricom Foundation Chairman Joseph Ogutu challenged corporates to develop strategies that promote sustainable community owned projects in order to have a meaningful and lasting impact. Citing the importance of a strong regulatory framework to guide CSI in Kenya, he said, "Now that many organisations have heeded the call to invest in CSI, it is also time to engage the government to discuss the importance of a regulatory framework and reporting requirements for CSI in Kenya to ensure that the requisite incentives are put in place," said Ogutu.

"By upholding the right values and taking radical steps, corporations have the power to drive change in the world. It is therefore time for a paradigm shift; for businesses to take the lead and engage governments and aid agencies at a much higher level because that is responsible capitalism," he concluded. 

Notes to the Editor

Safaricom Corporate

Safaricom provides a comprehensive range of services under one roof. This includes mobile and fixed voice and data services on a variety of platforms. With annual revenues in excess of Kshs 100 billion, it is Kenya's widest 3G network with a growing fibre optic cable footprint and its most expansive WIMAX presence

Safaricom pioneered commercial mobile money transfer globally through M-PESA, the most successful such service anywhere in the world. Launched in March 2007 as a money transfer service, it now has over 15 million customers and over 37,000 Agent outlets countrywide. 

Safaricom Foundation

The Safaricom Foundation is a registered charitable trust, and is the Corporate Social Investment arm of Safaricom Limited. Since its inception in 2003, it has disbursed Kshs.1.5 Billion towards various social projects that provide sustainable solutions to the most pressing social challenges. Its focus areas are Education; Health; Economic Empowerment; Environmental Conservation; Arts and Culture and Sports. The Foundation also responds to disasters and humanitarian emergencies as they arise. Safaricom Foundation's strategic directions contribute towards Kenya's development agenda and the Millennium Development Goals. Website: www.safaricomfoundation.org.