Kennedy Nsan|13 July 2017
Dangote gives out too little of his enormous wealth to support vulnerable and poor Nigerians especially during crisis, despite the fact that he's virtually climbed on their back to attain his stupendous wealth.
As a corporate entity, Dangote Group's corporate social responsibility (CSR) effort is abysmal by my estimation. Dangote has the capacity to do far more than it is currently doing and should be encouraged to do more by redistributing his wealth.
The global trend in the western world right now is that more and more very wealthy Americans like Bill Gates, Mark Zukerberg, Warren Buffet, etc have already got plans in place to give out almost all of their wealth shortly after their exit on earth. We don't need our man to do same, however, we need him to do more than he's currently doing.
Some years ago as a young man growing up in lagos when buying of shares was the fad, I bought into Dangote Group's first IPO (I think Dangote Salt or Sugar), till date I can't exactly say if I've ever seen any shares certificates or diviend warrants even when I use only Dangote salt and sugar for my food in my home.
I do really think that Dangote Group needs to do more, far more than it is doing and I don't think that I am the only one who thinks so. Aliko Dangote should be a bit more enthusiastic about redistributing his wealth to vulnerable Nigerians in this trying times through impactful projects to his company's host communities.
It is generally believed according to Ron Robin, that corporate social responsibility (CSR) could increase company profits and thus most large companies are actively engaged in it. Linking profit growth to abstract variables that are frequently difficult to define is a challenging task. However, most executives believe that CSR can improve profits. They understand that CSR can promote respect for their company in the marketplace which can result in higher sales, enhance employee loyalty and attract better personnel to the firm. Also, CSR activities focusing on sustainability issues may lower costs and improve efficiencies as well. An added advantage for public companies is that aggressive CSR activities may help them gain a possible listing in the FTSE4Good or Dow Jones Sustainability Indexes, or other similar indices. This may enhance the company’s stock price, making executives’ stock and stock options more profitable and shareholders happier.
Is our man Aliko Dangote aware of this?
Kennedy Nsan
Is a Social Commentator
