Big business must take up its social responsibility duty to the community

From left, Equity Bank CEO James Mwangi, President Uhuru Kenyatta and former President Mwai Kibaki during the presentation of the Equity Group Foundation's Wings to Fly scholarships for the 2013 beneficiaries at the Kasarani stadium in Nairobi on January 21, 2014. PHOTO | SALATON NJAU

What you need to know:

  • In my view, what Equity Bank has done represents the attractive face of capitalism.
  • Kenya is slowly growing into a society that does not honour the honest pursuit of wealth. In the past, the successful businessman and woman was looked up to with respect.
  • With profitable businesses beginning to engage in corporate philanthropy in a big way, big and successful businesspeople will recapture the image of integrity and honour which they enjoyed in the past.

It was the great Indian leader Mahatma Gandhi who described a good businessman as a person who goes into business to do well but stays there to do good.

I want to salute Equity Bank for taking corporate philanthropy to a new level in this country under its Wings to Fly programme.

Without a doubt, part of it is all about pursuit of self-interest. Indeed, there is plenty of public relations mileage and publicity to be hogged from sponsoring the biggest and most expansive corporate social responsibility programme in the region.

We saw it last week when no less a personality than President Uhuru Kenyatta graced the launch of the latest instalment of the programme.

The function, which was held at Kasarani Stadium, was a spectacular and colourful event where a host of beneficiaries — bright pupils from poor families — were paraded to give powerful testimonies and emotional tales of how the scholarships granted by Equity Bank had made it possible for them to access university education.

NEW HEIGHTS

In my view, only the intellectually dishonest can fail to see and appreciate how Mr James Mwangi and company have scaled new heights in setting standards for socially responsible business.

We must appreciate corporate philanthropy and recognise and encourage corporates and rich people willing to spend their money on positively changing the lives of the poor and vulnerable in society.

The successful record of the programme bears this out. Wings to Fly has given scholarships to more than 10,000 young, bright pupils from all parts of the country.

The choice of beneficiaries is through a transparent process and quota system where every single county is given a chance to present its brightest but needy pupil.

In my view, what Equity Bank has done represents the attractive face of capitalism. This country needs more successful businesspeople who realise that their responsibility to society goes beyond paying taxes to the government and turning profits to shareholders.

CHANGING ATTITUDES

A good corporate citizen complies with the laws and regulations of the land, makes sure that his operations do not interfere with the environment, practises good employment policies, and runs successful corporate social responsibility programmes.

Companies in this country must be encouraged to participate in compassion and social service, as exemplified by the growing influence of global movements such as the Rotary Club, Lions International, and Giants International.

Just imagine a situation where, like Equity Bank, a dozen other profitable companies were running such expansive corporate social responsibility programmes in the country. It is through initiatives such as Wings to Fly that we can change the attitudes of society towards the rich and wealthy.

Kenya is slowly growing into a society that does not honour the honest pursuit of wealth. In the past, the successful businessman and woman was looked up to with respect.

Lately, excessive greed, blind pursuit of wealth, and a culture of quick deals has made society have a hostile attitude towards the big and successful businesspeople.

INTEGRITY AND HONOUR

If you are rich and successful, society tends to regard you with suspicion as a person who has accumulated wealth either through corruption or by taking advantage of others.

With profitable businesses beginning to engage in corporate philanthropy in a big way, big and successful businesspeople will recapture the image of integrity and honour that they enjoyed in the past.

Perhaps the strongest point of Wings to Fly is that it does not drop you along the way. The needy students are provided with a comprehensive scholarship covering tuition fees, accommodation, books, uniform, shopping, pocket money and transport.

And once you are enrolled into the programme, the scholarship will cover your expenses all the way to the university.

I consider the biggest lesson from Wings to Fly to be that successful and profitable businesses have four great advantages in the field of social service: they can give leadership, supply organisation, marshal human resources and provide financial support.

Good luck to the Wings to Fly pupils who were enlisted last week. You are living proof that corporate philanthropy makes sense.