Business must serve in the public interest

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Newsletter| Corporate SA is viewed as self-serving and elitist. It has the uphill task of convincing citizens of its being an asset to economic growth, writes Wiseman Nkuhlu

Corporate SA is viewed as self-serving and elitist. It has the uphill task of convincing citizens of its being an asset to economic growth, writes Wiseman Nkuhlu.t is timely that, after a period of intense political focus in the country, the Brand Summit SA will return the focus to corporate South Africa.

Many perceptions will have been shaped also by sport, from the 1995 Rugby World Cup triumph, through the hosting of the 2010 World Cup tournament, to the modern-day successes of Caster Semenya and Kagiso Rabada. It is important to add that there is a respectable group of South African companies that have made a name for themselves on the world stage.Undoubtedly, the heft and achievements of these companies have added to positive perceptions of the country.In recent years, the news flow around corporate South Africa has hardly been helpful, with a long list of organisations, including my own, caught up in various controversies.

Organisations such as Business Leadership SA are doing good work in this space, but it is too important to leave to others.Only this way are we likely to achieve the virtuous circle of a more positive policy environment that contributes to faster growth and more job creation, supports socioeconomic upliftment and, in turn, builds trust in business as the critical agent of service delivery and development.

While serving the public interest has a particular meaning for auditors, it is nevertheless a concept that has broader resonances across the business community.

 

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