There are growing expectations across the world for companies to show their commitment to corporate social responsibility (CSR). This is especially so for large multinational companies. Their size, influence and geographic spread make such responsibility all the more important.
But, in reality, how do multinationals respond both to global norms and diverse local expectations?
This is especially salient in some African contexts. Many governments have developed empowerment regulations to increase the participation of local people in the economy. The aim has been to address the legacy of colonial policies that excluded citizens from controlling or benefiting from economic activities.
Policies like this have a long history in many parts of the continent. But they have become more prominent in recent years. This is evident in a recent analysis of 14 African countries by the South African-based legal firm Bowmans. The report shows a growing emphasis on such regulations.
*The views of the above article are those of the author and do not necessarily reflect the views of Africa Speaks 4 Africa or its editorial team.