South African corporate social investment grows to R11.8 billion in 2023 - But where is the money going?
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GUEST – Cathy Duff, director at Trialogue
South African companies spent an estimated R11.8 billion on corporate social investment (CSI) in the 2023 financial year, according to corporate responsibility consultancy Trialogue’s latest research findings.
The spend reflects an 8% nominal and 1% real increase from R10.9 billion in 2022, on the back of post-Covid recovery, low economic growth and a challenging operating environment. The findings, published in the latest annual edition of the Trialogue Business in Society Handbook, reflect a continued recovery in CSI expenditure, with more than half of surveyed companies (59%) reporting an increase in CSI spend, compared to 36% in 2021.
About 60% of companies determined their CSI budget as a percentage of net profit after tax (NPAT), supporting the primary reason for increases and decreases in CSI as changes in corporate profits.
South African companies spent an estimated R11.8 billion on corporate social investment (CSI) in the 2023 financial year, according to corporate responsibility consultancy Trialogue’s latest research findings.
The spend reflects an 8% nominal and 1% real increase from R10.9 billion in 2022, on the back of post-Covid recovery, low economic growth and a challenging operating environment. The findings, published in the latest annual edition of the Trialogue Business in Society Handbook, reflect a continued recovery in CSI expenditure, with more than half of surveyed companies (59%) reporting an increase in CSI spend, compared to 36% in 2021.
About 60% of companies determined their CSI budget as a percentage of net profit after tax (NPAT), supporting the primary reason for increases and decreases in CSI as changes in corporate profits.