Human capital development organisation Innotec Creative Solutions (Pvt) Ltd (ICS) successfully launched the inaugural 2023 annual Corporate Shared Value (CSV) Awards in Harare, last week.
The awards, which ran under the theme: Inclusive social economic development through shared value strategy, recognised individuals and organisations that are creating economic value while addressing societal needs and challenges.
Speaking at the ceremony ICS director Tawanda Marongwe highlighted that the aim of the awards was to celebrate organisations promoting CSV in their projects rather than those that practised Corporate Social Responsibility (CSR).
"CSV is different from CSR which is driven by external expectations. The focus of CSV is to balance between economic benefits of the company and social benefits whereas for CSR is to pursue corporate social performances, indicators and meet its stakeholder expectations
"The CSV model seeks to put the society at the centre of the strategic value chain, meaning that as long as the company is in operation societal needs of the community are met. The model is sustainable and a key driver of inclusion in economic activities," he said.
Ministry of Industry and Commerce official, Mucheka Muchumairi applauded ICS for coming up with an initiative that promotes CSV in the country while giving a speech on behalf of minister Sithembiso Nyoni.
"I would like to recognise the efforts that are being made by Innotec Creative Solutions to support the vision of the government in implementing the national economic development blueprint NDS1. This will drive the nation towards the achievement of sustainable development goals of Vision 2030.
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"I am happy that the corporate world has finally come to the realisation that sustainable economic development cannot be separated from the environmental and social issues, hence the need to create shared values," he said.
ICS is a Pan-African information, business intelligence and solutions company with interest in sustainable socioeconomic development of African countries. To date, it has managed to proffer practical, applicable and sustainable solutions to socio economic challenges in the continent.
