25 May Rosalind Kainyah | Panellist at the Africa Shared Value Summit 18
At this year’s Africa Shared Value Summit, Rosalind Kainyah of Kina Advisory will be discussing: The Role of Sustainable Institutions in Building Enabling Environments for Social Impact. Also speaking on this subject: Dr Frank Aswani & Jennifer Chiriga
Discussion on the role effective, accountable institutions at all levels play to drive social policy and achieve sustainable social impact.
The discussion will cover such areas as:
- Too often the emphasis on the achievement of development is focussed on economic factors, targets and goals ignoring the social policy contribution to these efforts
- What is the role of the various public policy actors (public sector, private sector and civil society) in delivering social impact?
- What are the factors driving good governance in institutions?
- Is it the responsibility of the public sector to lead the efforts to build accountable institutions in the region?
At Kina Advisory, we often talk about our concept of “the triangular relationship theory”, the need for business, government and society to have, not just conversations, but the right conversations. These three players are each important for the achievement of inclusive socio-economic development. Each is a point of a triangle and a successful relationship among the three is needed to create sustainable social impact.
At Kina we believe that companies should focus on both their business objectives as well as broader socio-economic issues. This is a bona-fide business strategy that will deliver long- term rewards, can boost competitiveness and reap economic dividends for society over the longer term.
Companies can no longer afford to ignore contributing to socio-economic development – that can be a costly mistake. Instead of seeing their contributions as separate to business either through ‘traditional corporate social responsibility’ programmes, companies should work to connect such activities to their business value drivers and national development needs.
Governments in Africa need to understand how best to capitalise on the expertise and resources of the private sector to meet national development goals. Instead of typical negotiations that would have driven Mother Theresa to drink, governments should think more broadly about the benefits companies can bring in addition to revenues.
Michael E. Porter in his 2011 Harvard Business review article on Creating Shared Value, notes that:
“the most fertile opportunities for creating shared value will be closely related to a company’s particular business, and in areas most important to the business. Here a company can benefit the most economically and hence sustain its commitment over time.”
To deliver social impact that benefits both businesses and society, Kina works with companies to ensure their business value drivers are linked to their efforts to address a country’s socio-economic priorities and have measurable socio-economic benefits. Through this, a company can achieve sustainable social impact.”