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South African Companies Increase Corporate Social Investment Spending

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Business Nouvelles

South Africa,Companies,Corporate Social Investment

South African companies spent an estimated R11.8 billion on corporate social investment(CSI) in the 2023 financial year, reflecting an 8% nominal and 1% real increase from the previous year. This increase can be attributed to post-Covid recovery, low economic growth, and a challenging operating environment.

South African companies spent an estimated R11.8 billion on corporate social investment(CSI) in the 2023 financial year, reflecting an 8% nominal and 1% real increase from the previous year. This increase can be attributed to post-Covid recovery, low economic growth, and a challenging operating environment. More than half of the surveyed companies reported an increase in CSI spend, compared to the previous year.

The primary reason for these increases and decreases in CSI is changes in corporate profits. South African companies are increasingly focused on achieving systemic impact and are investing in research, networking, and thought leadership in their development fields of interest

 

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