Corporate Social Responsibility and the Crisis of Development in Africa

Abstract

This paper argues that the idea of corporate social responsibility, that is gaining currency in the developed world today as the means of curtailing the excesses of capitalism, is not receiving the same attention in the developing areas of the world, particularly Africa. The paper maintains that the neglect of the idea of corporate social responsibility, because of the desire to resolve the crisis of development being witnessed in Africa, is a serious mistake because the neglect of this ideal is responsible for the crisis in the first instance. The paper concludes that genuine development (sustainable development), rather than mere economic growth can only be realized in Africa if both individuals and groups respect the rights, interests, and preferences of all members of the community in the pursuit of their economic activities. This new imperative is not difficult because responsibility to the community is a significant aspect of the traditional African value system that can easily be revived in order to come out of the prevailing crisis of development and realize the dream of an African renaissance.