Nigerian entrepreneurs lack corporate social responsibility initiatives – CSO

A Civil Society Organisation, Impact Venture Series, IVS, says most Nigerian entrepreneurs and start-ups have neglected corporate social responsibilities in their business operations.

The IVS project manager, Impact Venture Series, Augustina Okpechi, stated this on Monday during a stakeholder engagement in Abuja.

Ms Okpechi expressed concern over widespread lack of understanding about the CSR among businesses, especially in the startup world.

According to her, most entrepreneurs focus solely on profit and growth, neglecting their social and environmental impact.

She said: “The IVS seeks to reform the startup ecosystem in Nigeria by fostering a culture of corporate social responsibility, CSR, among entrepreneurs and business owners.

“Our goal is to create a movement that advocates reforms to support the youth and startup ecosystem, encouraging businesses to embrace responsible entrepreneurship.”

Ms Okpechi further noted that people often start businesses without considering corporate social responsibility, adding that the Impact Venture Series will help address this concern in three major ways.

“The Impact Venture Series Program will be in three phases. First is the engagement we are currently having in order to gain an understanding of CSR and issues around it and how it can make startups successful.

“Secondly, we are going to build up this conversation into a podcast series in order to reach out to as many startups as possible.

“Lastly, we would be working with businesses [startups], especially those that show interest, to help them navigate how they can incorporate and leverage on CRS in their business activities,” she said.

Other entrepreneurs who shared their views at the event further said corporate social responsibility must necessarily be multimillion – or billion Naira projects but community services and social works.