7 August 2012

Nigeria: ETISALAT, LBS Partner On Business Sustainability Strategy

ETISALAT Nigeria in partnership with the Lagos Business School (LBS) of the Pan African University has urged businesses in Nigeria to develop a sustainability strategy if they are to add value to the society and minimize negative impacts caused by their business processes.

This was one of the success tips for Nigerian business executives at the just ended Corporate Social Responsibility Masterclass training series organized by the Etisalat CSR Centre in partnership with the Lagos Business School (LBS) of the Pan African University.

Speaking on the third day of the workshop, Director, Sustainable Business Initiative, University of Edinburgh, UK, Dr. Kenneth Amaeshi, said for companies to drive innovation and sustainable economic growth, they have to adopt the concept of creating shared value. In enabling the creation of shared value, he said, companies need to invest in long-term business competitiveness that simultaneously addresses economic, social and environmental objectives.

"Businesses have a role to play apart from making profits. The primary reason why companies are in existence is to be responsible, and they do this by adding value to their stakeholders". In addition, he pointed out that the public has a social obligation to ensure that these companies do not misuse their social license to operate.

Speaking in the same vein, Manager, Corporate Social Responsibility, Etisalat Nigeria, Mr. Ismail Omamegbe, said that it was imperative for businesses in Nigeria to practice responsible business models that are innovative as well as sustainable.

He explained that the training which is now in its second year is aimed at giving managers and practitioners in CSR, Sustainability Reporting, Corporate Affairs, Ethical investments and other CSR related professionals an overview of the relevance of Corporate Social Responsibility in today's socio-economic sphere.

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