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.
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