Within the corporate strategy and management framework, socially responsible initiatives are viewed as an investment rather than a cost. Now more than ever, it stands out as an effective way to influence the factors of a company’s competitiveness.
- Socially responsible initiatives provide an effective way to ensure a sustainable future.
- NOIC’s scholarship and internship programs help to develop and empower undergraduate students from low-income backgrounds
Outstanding socially responsible businesses in Zimbabwe
In this article, we will consider the top ten firms with outstanding socially responsible initiatives in Zimbabwe.
1. Old Mutual Zimbabwe
Old Mutual Zimbabwe is devoted to ensuring Zimbabwe’s economic development and progress. By and large, the firm achieves this through projects that promote the development of housing, infrastructure, agriculture, and business recovery.
Old Mutual maintained its commitment to affordable housing by investing in the Nkulumane and Pumula South housing projects. In 2018, the firm built 596 stands in Pumula South under phase one of the projects.
Also, Old Mutual invested in the Eastgate Market complex, which includes a mammoth 11,823 square meters of premium retail space for SME companies.
2. Innscor Africa Limited (IAL)
Innscor Africa Limited (IAL) engages in CSR projects through the Group’s corporate office as well as its many subsidiary and affiliate firms. Also, IAL contributes millions of dollars to the development and training of small-scale farmers. The firm has assisted in constructing and rehabilitating schools in rural and developing communities. In addition, IAL provides support to underprivileged children. Since 2012, the company has supported the National Institute of Allied Arts Visual Arts Festival.
3. OK Zimbabwe Limited
OK Zimbabwe Limited participates in various local community initiatives through its 68 branches. In 2015, the firm established four additional nurseries as part of the Group’s flagship CSR effort, which involves creating tree nurseries in all regions of Zimbabwe.
Also, OK participates in World Tree Planting Day, which is observed annually on the first Saturday of December. The firm actively sponsors and donates to issues related to health, education, student employment, charity, sports, and the environment.
4. ZIMRA
The ZIMRA Chairman’s Charity Fund arose from a need to instil discipline in employees. The fund grew to become a channel to aid the less fortunate people in society, mostly in orphanages and old people’s homes.
As the need to aid the less fortunate developed, the Authority hosted its first Charity Ball in 2004, inviting other organisations to purchase dinner tables with all proceeds going to charity. The ZIMRA Charity Ball became an annual event, benefiting various charitable institutions and individuals across Zimbabwe.
In 2013, the Authority shifted its focus to sustainable initiatives. Hence, funds were geared toward green development, poultry projects, wheelchairs, university scholarships, and school classroom blocks, among others.
5. FBC Holdings Limited
FBC is dedicated to community development and has a long history of giving back to the community. For the most part, the firm prioritises education when undertaking socially responsible projects.
FBC contributed to building a modern classroom facility at Gurungweni Primary School in Chikombedzi which assists at least ninety (90) students. FBC also agreed to build a new Science Laboratory at Chiredzi’s Gurungweni Secondary School.
In addition, the FBC Holdings Group donated farming implements worth more than $40,000 to Shungu Dzevana Children’s Home. The group launched a nationwide tree-planting program as part of the institution’s sustainability efforts to promote environmental protection and climate resilience. The goal is to plant four thousand (4000) trees at FBC and other educational institutions across the country.
6. Econet
Econet adopts initiatives to encourage its stakeholders to positively impact the environment. Econet’s major initiatives include solar projects, integrated waste management, spill management, and the National E-Waste Campaign.
During the 2011 cholera outbreak, Econet launched a massive clean-up program to prioritise domestic garbage management and community waste management. As part of the rollout, Econet and Higherlife Foundation purchased skip bins and recruited community volunteers who were rewarded for their efforts.
Also, the firm supplied water treatment items to over 251,000 individuals. Econet implemented a restoration program to establish 8 public toilets and 9 communal boreholes to improve WASH in affected areas.
7. Schweppes Zimbabwe
Schweppes Zimbabwe has supplied over 500,000 litres of filtered water across 15 different locations. During COVID-19, the brand launched a water project in Harare and Bulawayo to address water shortages.
Also, Schweppes developed collaboration models with guava-picking villages around the country. By collaborating with locals, primarily women, and youth, the firm empowered these individuals to generate revenue from the land. Schweppes has influenced over 2000 families by recognising the shared value in organically grown guavas.
8. Zimbabwe Women’s Microfinance Bank (ZWMB)
The Zimbabwe Women’s Microfinance Bank (ZWMB) plans to fund at least 10,000 projects this year as part of its women empowerment drive. Since its creation, the bank has provided loans for over 114,000 projects largely led by women around the country.
During its first year of operation, ZWMB opened about 60,000 accounts. Also, several Value Chain finance operations have been launched for crops including castor bean, sesame, cotton sunflower, and sorghum.
9. ZB Financial Holdings
The ZB Group operates an education support fund for poor schoolchildren, with a special emphasis on children who have lost both parents. Also, the firm’s donations and sponsorships have assisted a variety of schools, colleges, and universities with building projects, sports tours, information technology, and instructional trips.
The Group held an essay competition about “Climate Resilience” to raise environmental awareness among school-age students. Also, ZB supports activities by the Parks and Wildlife Association through its donations. The Group is dedicated to the national reforestation initiative. Hence, 65 trees were planted at ZB Sports Club to commemorate the club’s 65th anniversary.
10. NOIC
NOIC’s scholarship and internship programs help to develop and empower undergraduate students from low-income backgrounds. The company sponsors children pursuing degrees in accounting, engineering, medicine, and auditing. In 2012, NOIC announced the graduation of nine scholarship recipients.
In addition, the company participates in sanitation programs. Boreholes have been drilled across its operating sites in Feruka, Dora Community, and Harare in Epworth to offer clean water to the communities.
Conclusion
Now more than ever, socially responsible initiatives are required to ensure a sustainable future. Likewise, proper techniques for applying and embedding CSR within a firm can lead to long-term success. However, organisations must be willing to look beyond short-term profit and realize their aims for the greater welfare of the community.
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