Namibia is many things. It is a country of peace. It is a country of blinding natural beauty. It is a country embracing a green revolution. But it is also the second most unequal country in the world, according to the World Bank’s Gini Index.
As we stand on the brink of expanded economic diplomacy, the need for a truly “Just Transition” in Namibia has never been more pertinent. And it presents us with one of two paths towards our future as a nation: (i) intensify our implementation of Corporate Social Responsibility (CSR) that aligns with the National Prosperity Plan, or (ii) adopt and integrate Corporate Shared Value (CSV) into our business strategies to accelerate our national progress towards Vision 2030.
We know a fair amount about CSR – we’ve seen it in annual reports and optics-driven press releases. Shared Value, on the other hand, is a much more attractive and rewarding option for a future that is as resilient as it is sustainable.
Shared Value is about our collective future. Business. Communities. Nation state and our World. It allows corporations to find business opportunities in societal needs, reiterating industry theory that the long-term profitability of a business depends on an enabled society. It is a revenue strategy that shifts businesses away from profit versus purpose, and towards profit and purpose. Shared Value goes beyond CSR. It goes beyond philanthropy. Beyond donations.
To achieve true shared prosperity in the Namibian House, it is important that we understand the differences in sustainable impact strategies, and their respective returns. While the local vocabulary is steadily shifting from CSR towards ESG, there is often the confusion between action and framework. Hong Kong’s Dream Impact (a network of social enterprises and ventures to build and grow Hong Kong’s impact ecosystem) unpacks this in a triad of CSR/ESG/CSV:
Corporate Social Responsibility (CSR): The action of a company supporting external organisations that “do good” in the form of monetary contributions or volunteering. This has reputational and societal benefits usually via third parties.
Environmental, Social and Governance (ESG): The framework of accountability that companies use to look beyond profit maximisation and analyse the impact of its business on these 3 ESG factors. This approach has reputational, regulatory and financial benefits.
Corporate Shared Value (CSV): The action of a company “doing well by doing good”. It sees social impact as a competitive advantage that contributes to the company’s long-term success. This has rolling returns for everyone involved and creates sustainable resilience for corporate citizens and civil society at large.
Below we address the crux between actions that amplify framework.
| Corporate Social Responsibility | Corporate Shared Value |
| Donation | Profit creation |
| Volunteerism | Stakeholder alignment |
| Philanthropy | Competitive Differentiation |
| Corporate Foundations | Business Development |
| Siloed | Strategically aligned |
| Marketing Strategy | Revenue Strategy |
At Advantage Advertising, reframing impact from a marketing strategy to a revenue strategy is work that excites us, but also drives us to amplify the good business that corporates want to do in Namibia. Consequently, we have created a
dedicated department called The Alliance which focuses specifically on developing data-driven impact solutions for our clients.
With a foundational principle of Shared Value, The Alliance guides corporates on the path away from profit vs purpose and towards profit & purpose. Housing a researcher and strategist, The Alliance is equipped to amplify the CSR and ESG efforts of businesses looking to go beyond business as usual – towards a sturdy Namibian House in which no one is left behind.
True to its name, The Alliance is about working together for desired impact, and we would love to collaborate with you. Please get in touch on info@advantage.com.na
* Ama Owusu-Agyemang is Head of Strategy & Shared Value at Advantage Advertising & Communications
