Addressing Corporate Sustainability in The Corporate Sector through Payin30
The #Payin30 initiative in South Africa has been largely driven and supported by the private/corporate sector. Corporate Social Responsibility (CSR) is a management concept or a business model, that consolidates topics of social and environmental concerns into their business policies, operations and their conduct. It is a way in which the company becomes socially accountable, not only to itself and the stakeholders but also to the public. Corporate social responsibility is the approach a company undertakes to enact a balance of the Triple Bottom Approach (TPL) – “People. Planet. Profit” while holding itself accountable to stakeholders.
CSR is a conscious effort to address the capitalistic nature of the business but being cognisant of the environment in which it exists – understanding that people, profit and the planet cannot operate in isolation.
The Corporate Social Responsibility (CSR) diagram: Photo courtesy of Getty Images
THE ROLE OF GOVERNMENT IN CSR AND PAYIN30
Although the business sector lies at the centre of CSR, the government as an authoritative power can play a catalyst role – yielding their power and voice to raise awareness of what CSR truly embodies. The government can a vital role in mediating between social agents (business sector and the public).
The United Kingdom (UK) government and the South African (SA) government have been exemplary in calling for action against 90-, 60-, and 45-day payment terms. On the 19th of January, the United Kingdom government announced that it has re-examined the Prompt Payment Code (PPC) to renounce delayed invoices owed to SMEs. Under the new reconstructed terms, companies are obliged to now pay SMEs within 30 days – which is half the time defined by the current Code. The UK government is looking to strengthen the rules, by increasing Small Business Commissioner powers as a post-covid19 economic strategy.
During the South African Investment Conference in Soweto, President Cyril Ramaphosa called for the government to ensure that SMEs suppliers are paid within 30 days. The Public Service Commission (PSC) is an independent and overseeing institution, ensuring the effectiveness and efficiency of public service performance. The PSC aptly states that “The non-payment of suppliers is in contravention of the Treasury Regulations and constitutional principles such as efficient, effective and economic use of resources, accountability and transparency”. The PSC will continue monitoring compliance with 30-day payment terms, announcing that they [PSC] will view non-compliance as financial misconduct.
These two exemplary moves by the respective are indicative of how not only government institutions can set precedence on ethical practices but also yield their power for the good of the greater society. The ability of government institutions to recognise the importance of SMEs as job creators, but also as an integral part of the economic ecosystem. The government is held accountable and is responsible for its stakeholders – the people and acknowledging that SMEs are the microcosm of society and the economy. The government’s role is a prime example of the influence of corporate social responsibility.
THE ROLE OF CORPORATE AND THE PRIVATE SECTOR IN PAYIN30
As the economic and social unit of society, corporate must operate in accord with sustainable strategies endorsed by the economic system in which it operates. The highlight of this is that corporate and business do not exist in isolation and their existence is dependent on the people and planet, there is a responsibility to the planet and the people. In pursuit of a sustainable business strategy, “CSR emphasises on the maximisation of the utility of resources with minimum consumption, exploration of resources without exploitation and maintaining the surplus balance of resources for future generations.”
The #Payin30 initiative in South Africa has been largely driven and supported by the private/corporate sector. Business for South Africa (B4SA), the SA SME Fund, and Business Leadership South Africa (BLSA), and supported by, amongst others, Business Unity South Africa (BUSA), the Small Business Institute (SBI) and the Black Business Council (BBC) have all put their heads together to support SMEs. This serves as evidence that corporates are largely aware of the role and influence in the country’s economic ecosystem.
Paul Hanratty, Sanlam Group Chief Executive Officer, and member of the Risk and Compliance, and Social, Ethics and Sustainability (SES) Committees speaks on the importance of the #Payin30 campaign.
Paul Hanratty, Sanlam Group Chief Executive Office
Hanratty says, that the #Payin30 is a supportive mechanism to SMES navigating the Covid-19 pandemic and will help them become sustainable in the long term. He follows this, highlights how the #Payin30 is also an economic strategy to the pandemic, urging all big businesses to adjust their payment terms in support of SMEs. Hanratty says,
“Recovery will not happen exclusively through big national initiatives; it will happen bit by bit, in small but meaningful increments. The business sector in South Africa has the opportunity to play a profound role in the recovery of smaller entities.”
We cannot ignore the need for economic development and growth, but we must be cognisant that it needs to be done sustainably. We cannot grow the economy at the expense of the people or the planet. The progression of concepts like that of CSR is dependent on the partnership of the private sector and government.
CONCLUSION
In their article, ‘The Truth about CSR’, Kasturi et al note that there is an increasing pressure for corporate companies to “dress up CSR as a business discipline and demand that every initiative deliver business results.”. This takes away the essence of CSR is: “to align a company’s social and environmental activities with its business purpose and values.”. The authors of the article aptly advise that to maximise the positive impact of CSR, companies must depart from poor coordination of their CSR programs and the lack of logic connecting their various programs. Kasturi et al advise that maximising this means companies need to develop coherent CSR strategies by a) focusing on philanthropy, b) improving operational effectiveness, c) transforming the business model. Post the development of these three theatres, companies must develop a unified practice program through a four-step process. Step 1) Aligning Programs Within the Theatres, 2) Developing Metrics to Gauge Performance, 3) Coordinating Programs Across Theatres, and 4) Developing an Interdisciplinary CSR Strategy. Best-practices companies operate coordinated and interdependent programs across the CSR field.
We must understand the world from the triple bottom line: the social, environmental and financial – people, planet and profit. SMEs contribute immensely to the country’s sustainable growth and need the support of both government and corporations to ensure their survival and preservation. The global problems cannot be solved alone. The collaboration with entities like SMEs, NGOs and association can help them unleash the full potential of corporate social responsibilities. Payin30 is an important CSR initiative that serves as evidence of how government and corporate can work together to ensure the sustainability of SMEs.
India COVID-19 Crisis: A Wake-Up Call for Africa
India COVID-19 Crisis: A Wake-Up Call for Africa
Africa’s top health officials and the African Union have deemed the Indian COVID-19 crisis as a wake-up call for Africa. The Africa Centres for Disease Control and Prevention (Africa CDC), the public health agency of the African Union has issued a warning to African governments and citizens to be cautious.
The resurgence in India’s COVID-19 cases is particularly concerning as India and Africa have roughly the same population. Furthermore, the fragile health systems of Africa could ultimately result in the same scenario as in India. Director of Africa CDC, John Nkengasong, warns that the African continent must be very, very prepared. He further highlights the lack of health care workers and oxygen in the continent. Nkengasong urges African countries to avoid mass gatherings.
Africa’s vaccine supply is heavily dependent on India as the AstraZeneca vaccines that are distributed by the global COVAX, is manufactured by the Serum Institute in India. This will adversely affect the rollout of vaccination programs in Africa. Africa has already suffered a setback as India decided to cut back on supply and reduced exports to address domestic needs.
As the world watches the COVID-19 crisis in Indian in disbelief, the Africa CDC has convened with the African Union an emergency meeting on May 8 to devise a collective action plan.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.
Johnson and Johnson COVID-19 Vaccinations Halted After Cases of Blood Clotting Emerge
The injections of the single-dose Johnson & Johnson COVID-19 vaccine has come to a sudden halt in various countries across the continent due to rare blood-clotting syndrome emerging in six recipients.
The six recipients were all women between the ages of 18 and 48, and all developed the illness within one to three weeks of being vaccinated. All the six women who suffered what is called ‘cerebral venous sinus thrombosis’ are reported to have had low platelet counts. Frontline experts hypothesize that the vaccine activates platelets and leads to blood clots in channels that help transmit blood away from the brain. The blood clots can cause strokes or damage to the brain.
Action taken by European and Northern American states
On the 9th of April 2021, the European Medicine Agency (EMA) announced its Pharmacovigilance Risk Assessment Committee (PRAC) were reviewing the Janssen COVID-10 vaccine safety signals, following reports of blood-clotting occurrences in four recipients of the Janssen vaccine in the USA. On 13th April 2021, due to concerns over the Janssen vaccine, the United States Centers for Disease Control and Prevention (US CDC) and Food and Drug Administration (FDA) has recommended a halt in the administering of the COVID-19 vaccine.
The Janssen COVID-19 vaccine in African states
In a statement to African Union (AU) Member States, the African Centre for Disease Control and Preparation (Africa CDC) issued a statement consolidating the J&J vaccine predicament in Africa. The Africa Regulatory Taskforce has endorsed the Emergency Use Authorization for the Janssen COVID-19 vaccine.
At present, South Africa is the only member state permitting the Janssen COVID-19 vaccine. Registered by the South African Health Products Regulatory Authority (SAHPRA), over 290 000 doses have been administered. On 13th April 2021, South African Health Minister, Dr Zweli Mkhize announced that the country had no reports of any blood clots following the administering of the Janssen COVID-19 vaccine. As a precautionary measure, South Africa has announced that the rollout of the vaccine will be halted to review and assess the situation alongside global regulatory authorities.
Recommendations from the Africa CDC to the AU Member States
The Africa CDC states, “As such rapid access to safe and effective vaccines is paramount to the African Union vaccination strategy to achieve control of the pandemic. Africa CDC will continue to monitor reports of adverse events following immunization, for all COVID-19 vaccines, including the Janssen COVID-19 vaccine, and will provide further guidance to Member States.”
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.
16 April 2021| by Sisipho Ntsabo Relocation Africa
Payin30 – Addressing Corporate Sustainability in The Corporate Sector
Addressing Corporate Sustainability in The Corporate Sector through Payin30
The #Payin30 initiative in South Africa has been largely driven and supported by the private/corporate sector. Corporate Social Responsibility (CSR) is a management concept or a business model, that consolidates topics of social and environmental concerns into their business policies, operations and their conduct. It is a way in which the company becomes socially accountable, not only to itself and the stakeholders but also to the public. Corporate social responsibility is the approach a company undertakes to enact a balance of the Triple Bottom Approach (TPL) – “People. Planet. Profit” while holding itself accountable to stakeholders.
CSR is a conscious effort to address the capitalistic nature of the business but being cognisant of the environment in which it exists – understanding that people, profit and the planet cannot operate in isolation.
The Corporate Social Responsibility (CSR) diagram: Photo courtesy of Getty Images
THE ROLE OF GOVERNMENT IN CSR AND PAYIN30
Although the business sector lies at the centre of CSR, the government as an authoritative power can play a catalyst role – yielding their power and voice to raise awareness of what CSR truly embodies. The government can a vital role in mediating between social agents (business sector and the public).
The United Kingdom (UK) government and the South African (SA) government have been exemplary in calling for action against 90-, 60-, and 45-day payment terms. On the 19th of January, the United Kingdom government announced that it has re-examined the Prompt Payment Code (PPC) to renounce delayed invoices owed to SMEs. Under the new reconstructed terms, companies are obliged to now pay SMEs within 30 days – which is half the time defined by the current Code. The UK government is looking to strengthen the rules, by increasing Small Business Commissioner powers as a post-covid19 economic strategy.
During the South African Investment Conference in Soweto, President Cyril Ramaphosa called for the government to ensure that SMEs suppliers are paid within 30 days. The Public Service Commission (PSC) is an independent and overseeing institution, ensuring the effectiveness and efficiency of public service performance. The PSC aptly states that “The non-payment of suppliers is in contravention of the Treasury Regulations and constitutional principles such as efficient, effective and economic use of resources, accountability and transparency”. The PSC will continue monitoring compliance with 30-day payment terms, announcing that they [PSC] will view non-compliance as financial misconduct.
These two exemplary moves by the respective are indicative of how not only government institutions can set precedence on ethical practices but also yield their power for the good of the greater society. The ability of government institutions to recognise the importance of SMEs as job creators, but also as an integral part of the economic ecosystem. The government is held accountable and is responsible for its stakeholders – the people and acknowledging that SMEs are the microcosm of society and the economy. The government’s role is a prime example of the influence of corporate social responsibility.
THE ROLE OF CORPORATE AND THE PRIVATE SECTOR IN PAYIN30
As the economic and social unit of society, corporate must operate in accord with sustainable strategies endorsed by the economic system in which it operates. The highlight of this is that corporate and business do not exist in isolation and their existence is dependent on the people and planet, there is a responsibility to the planet and the people. In pursuit of a sustainable business strategy, “CSR emphasises on the maximisation of the utility of resources with minimum consumption, exploration of resources without exploitation and maintaining the surplus balance of resources for future generations.”
The #Payin30 initiative in South Africa has been largely driven and supported by the private/corporate sector. Business for South Africa (B4SA), the SA SME Fund, and Business Leadership South Africa (BLSA), and supported by, amongst others, Business Unity South Africa (BUSA), the Small Business Institute (SBI) and the Black Business Council (BBC) have all put their heads together to support SMEs. This serves as evidence that corporates are largely aware of the role and influence in the country’s economic ecosystem.
Paul Hanratty, Sanlam Group Chief Executive Officer, and member of the Risk and Compliance, and Social, Ethics and Sustainability (SES) Committees speaks on the importance of the #Payin30 campaign.
Paul Hanratty, Sanlam Group Chief Executive Office
Hanratty says, that the #Payin30 is a supportive mechanism to SMES navigating the Covid-19 pandemic and will help them become sustainable in the long term. He follows this, highlights how the #Payin30 is also an economic strategy to the pandemic, urging all big businesses to adjust their payment terms in support of SMEs. Hanratty says,
“Recovery will not happen exclusively through big national initiatives; it will happen bit by bit, in small but meaningful increments. The business sector in South Africa has the opportunity to play a profound role in the recovery of smaller entities.”
We cannot ignore the need for economic development and growth, but we must be cognisant that it needs to be done sustainably. We cannot grow the economy at the expense of the people or the planet. The progression of concepts like that of CSR is dependent on the partnership of the private sector and government.
CONCLUSION
In their article, ‘The Truth about CSR’, Kasturi et al note that there is an increasing pressure for corporate companies to “dress up CSR as a business discipline and demand that every initiative deliver business results.”. This takes away the essence of CSR is: “to align a company’s social and environmental activities with its business purpose and values.”. The authors of the article aptly advise that to maximise the positive impact of CSR, companies must depart from poor coordination of their CSR programs and the lack of logic connecting their various programs. Kasturi et al advise that maximising this means companies need to develop coherent CSR strategies by a) focusing on philanthropy, b) improving operational effectiveness, c) transforming the business model. Post the development of these three theatres, companies must develop a unified practice program through a four-step process. Step 1) Aligning Programs Within the Theatres, 2) Developing Metrics to Gauge Performance, 3) Coordinating Programs Across Theatres, and 4) Developing an Interdisciplinary CSR Strategy. Best-practices companies operate coordinated and interdependent programs across the CSR field.
We must understand the world from the triple bottom line: the social, environmental and financial – people, planet and profit. SMEs contribute immensely to the country’s sustainable growth and need the support of both government and corporations to ensure their survival and preservation. The global problems cannot be solved alone. The collaboration with entities like SMEs, NGOs and association can help them unleash the full potential of corporate social responsibilities. Payin30 is an important CSR initiative that serves as evidence of how government and corporate can work together to ensure the sustainability of SMEs.
Facebook in Partnership with WHO Launches Campaign to Tackle Fake Covid-19 and Vaccine News
Facebook has launched a campaign in partnership with the World Health Organisation (WHO) to combat misinformation and fake news regarding Covid-19 and vaccine updates in Africa. This campaign aims to remove false vaccine claims, decrease the circulation of inaccurate health information and inform people about effective vaccine delivery.
The campaign called, ‘Together Against Covid-19 Misinformation’ is set to be launched across Zimbabwe, Kenya, Uganda, Rwanda, Senegal, South Africa, Nigeria, Democratic Republic of Congo and Côte d’Ivoire. The default language on this campaign will be French and English.
Public Policy Manager, Aïda Ndiaye stated that ensuring Facebook users receive authoritative information about the Covid-19 vaccine with the help of industry experts and Facebook users are important to tackle misinformation. She further comments on the campaign gives users “additional resources to scrutinize content they see online, helping them decide what to read trust and share.”
This campaign will show up on Facebook through a series of graphics with tips on how to identify false news/ misinformation:
A dedicated website will be launched as part of the website as part of the campaign. This website includes information on how Facebook is combating misinformation, transparency on their ‘Remove, Reduce and Inform strategy.’, their outlined community standards and steps they are taking to tackle false news around global events.