CONTINENTAL AFRICA: TURNING THE WILDERNESS INTO A FRUITFUL FIELD

At the turn of the century it was speculated that Africa would be the focus of global industrial nations through Direct Foreign Investment (DFI), Corporate Social Responsibility (CSR), Scholarships/Philanthropy etc. With the exception DFI which is commercial and transactional in nature, all other platforms could be classified as CSR. Philanthropy is part of CSR but slightly different. The Shorter Oxford English Dictionary defined ‘philanthropy’ as “Love towards mankind; practical benevolence towards men in general; the disposition to promote the well-being of one’s fellow-men”. Whereas there is no obligation to be philanthropic, company law via Objects, Memo and Articles of Association, good corporate governance impose obligation on corporate institutions to provide CSR. CSR is how businesses relate with its host or immediate environment and society at large. Call it Ubuntu, Omoluabi etc. if you want to Africanize CSR. ‘Responsibility’ is the common denominator. You can extrapolate that to how affluent and industrialised West, G-8 and G-20 countries relate with developing economies around the globe, especially in Africa to ensure that they don’t diminish to extinction. Even artistes came to Africa’s rescue in the ‘80s with ‘USA for Africa’. There is hardly and developed country in the world today that has no link with African countries through DFI. European Union (EU) and Americas have been in the continent since the colonial days. China, considered a late-comer in the ‘grab’ for Africa economy has ran very fast even to the point of building Africa Union (AU) Secretariat to the bewilderment of leading advanced Western nations. The need for global CSR for Africa was recognised by one of the shining American past President, Bill Clinton when he initiated Africa Growth Opportunity Act (AGOA) at the turn of 21st century. The Act gave small and large businesses in Africa the opportunity to export some classes of goods to America without restrictions and trade protocols. Another past American President worthy of commendation by Africa is Barrack Obama who among other pro-Africa policies/initiatives signed into law “Electrify Africa Act” sponsored by senator Ben Cardin. These are well-meaning policies to turn Africa into a fruitful field. Scandinavian countries are not left out, even though with EU. Most donor agencies and humanitarian organisation working in Africa are from Scandinavia. Continental Africa is not bereft of CSR activists and philanthropists. Perhaps MO Ibrahim Foundation comes to mind for promoting good governance and leadership. One philanthropist/CSR activist that is dominating and on the ground of Africa is Tony Elumelu, a global citizen of African origin. His vehicle, Tony Elumelu Foundation (TEF) has become a common vocabulary in the continental business circles. The mantra of TEF is “Afri-capitalism” ; continentally enabled and harnessed financial flow and resources. TEF has transformed human capital development, training, growth of small and medium scale businesses in Africa. Its dynamic stride leaves no one in doubt that their platform is critical to turning continental Africa to a fruitful field. Corporate Attorney/Consultant IKECHUKWU O. ODOEMELAM & CO: Legal Practitioners http://www.amazon.com/dp/B0075RXXLE COMPANY SECRETARIES HANDBOOK http://www.amazon.com/dp/B005783S6SDIRECTORS http://www.amazon.com/dp/B005MKCESY MEETINGS: Dynamics and Legality https://tapestri.io/members/join/now/ideaworkshop