Looking Back at 2024 in CSR and CSI
In South Africa, Corporate Social Responsibility (CSR) and Corporate Social Investment (CSI) have become essential, with businesses increasingly looking for ways to positively impact society while creating value for their stakeholders. The economic landscape, social challenges, and evolving expectations of companies’ roles in societal development have shaped this year’s trends in CSR and CSI. In this blog, we’ll examine these key trends for 2024 and in Part II we’ll forecast where the focus may be heading in 2025.
Part 1: Key Trends in CSR and CSI in South Africa in 2024
1. Increased Focus on Education and Skills Development
Education and skills development remain a primary focus for CSR and CSI programs in 2024. Many corporations have deepened investments in upskilling South Africa’s youth to address the high levels of unemployment and better align educational outcomes with job market demands. This includes partnerships with government-led programs, the creation of vocational training opportunities, and programs specifically targeting STEM (Science, Technology, Engineering, and Mathematics) fields.
2. Emphasis on Environmental Sustainability and Climate Action
In response to the increasing urgency of climate change and resource scarcity, companies are integrating environmental sustainability into their CSR efforts. These efforts range from energy conservation and waste reduction initiatives to supporting renewable energy projects and community conservation efforts. Furthermore, the adoption of sustainable business practices, such as eco-friendly packaging and reduced carbon footprints, has become a priority.
3. Health and Wellbeing Initiatives
Post-pandemic, there has been a steady rise in health-focused CSI initiatives. In 2024, this has expanded beyond immediate healthcare support to include mental health programs, nutrition, and wellness education. Companies are investing in community healthcare facilities, offering mobile clinics in underserved areas, and promoting mental health awareness as part of a holistic approach to improving the wellbeing of South Africans.
4. Support for Small Businesses and Entrepreneurship
Recognizing the importance of entrepreneurship to economic growth, many corporations have directed CSR funding to support small businesses and local entrepreneurs. Initiatives include funding and mentorship programs, incubators for startups, and supporting access to digital resources to boost economic participation. This trend not only addresses unemployment but also strengthens local economies by empowering small business owners.
5. Digital Inclusion and Technology Access
To bridge the digital divide, CSR programs in 2024 are increasingly focusing on digital inclusion. Companies are providing access to technology and internet connectivity in remote and underserved communities, training citizens in digital literacy, and partnering with educational institutions to improve access to online learning platforms. Digital inclusion aligns closely with economic empowerment, making it a significant trend this year.
6. Ethical Governance and Transparency
With growing awareness of social and environmental accountability, ethical governance and transparency are becoming core principles of CSR. Companies are more actively measuring and reporting on their CSR impact, publishing sustainability and social responsibility reports, and committing to fair labor practices. This trend reflects a growing demand for accountability from stakeholders, especially with the increase in investor interest in ESG (Environmental, Social, and Governance) metrics.
Conclusion
In 2024, CSR and CSI trends in South Africa reveal a strong commitment by corporations to address pressing social issues, with an emphasis on sustainable impact, education, digital inclusion, and ethical governance. In Part II we’ll look ahead into what to anticipate for 2025.
About the Author:
Yolanda Gossel is the Founder and Programme Director at Five Tulips, a South African based sustainability and corporate social investment (CSI) consultancy. Five Tulips forges partnerships between communities, public and private sectors and individuals for social upliftment and preservation of our planets resources and ecosystems.
To connect with me visit:
LinkedIn: https://www.linkedin.com/in/yolandagossel005/
Twitter: https://twitter.com/Fivetulips
