Corporate America, meet Corporate Africa Outside the Box

The private sector, through its flows of capital, technology, and knowledge, has become a vital force in the development of Africa. That’s the right approach, writes Rhonda Zygocki.

GIBS Information Centre / GIBSIC‘s insight:

Partnering Africa– “Over decades of experience, our approach to community development has fundamentally shifted from donors to partners; from building bricks to building capacity; from short-term projects to multi-year endeavors, and from shared ceremonies celebrating a launch to shared progress that celebrates results.

Time and money – Corporations should approach these programs as a collaborative member of the community, not just a corporate donor. Our social investment experience has convinced us the private sector can play a valuable role in breaking the cycle of poverty and disease, while supporting economic development at a scale that can be felt at the national level.

Angola is a good example. The country experienced an important turning point on April 4, 2002 with the end of a 27-year civil war. The war had caused more than 4 million people to be displaced and the country’s infrastructure was in ruins. Angola’s president invited Chevron to help the country rebuild. By forming public-private partnerships with organizations like USAID and the United Nations Development Program, Chevron was able to pioneer a groundbreaking program aimed at catalyzing economic diversification and growth. The program helped rebuild commercial farming and launch the country’s first microcredit bank. Today, Angola is a more peaceful and prosperous nation, with a budding entrepreneurial culture and civil society.”

See on www.marketwatch.com

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