Olu of Warri advocates ethical conscious business practices
The Olu of Warri, His Majesty, Ogiame Atuwatse III, has called for socially responsible business practices in Africa, noting such would enhance deep societal linkage and community upliftment through businesses.
The traditional ruler made this known in a speech he delivered at the Africa Leadership Summit organized by the Africa Leadership organisation at Dochester Hotel, United KKingdom, with the theme, ‘Business Beyond Profits — Expanding The Frontiers Of CSR And Community Development For Africa’s Development.’
The Delta monarch who was accompanied by his wife, the Queen Consort of Warri Kingdom, Olori Atuwatse III, to the colorful event was honoured with ‘African Leadership Outstanding Public Service Impact Award 2023 (Royal Category)’.
While the Olori was decorated with ‘African Leadership Magazine’s 2023 Pearl’.
The monarch emphasized that business should be seen as a deciding factor for societal transformation.
While recalling that Africa had a rich history of community-oriented business practices, Olu of Warri said, “In our traditional markets, businesses and marketplaces were more than just locations for economic transactions. They were the heartbeats of our communities, serving as centres for shared prosperity, cultural exchange, and social development.
“Business was community-centric, you would see market women rally together to contribute to send a fellow colleague’s child to school, or help their colleague pay a hospital bill.
“African Business traditionally was community centred until it became overshadowed by modern capitalism, which has a profit-first model,” he stated.
He wondered why poverty level Africa remained inspite of the booming businesses, increase in profits for the business and the Corporate Social Responsibility put in place by the organisations.
The monarch maintained that businesses must expand the frontiers of CSR if Africa is to be transformed.
He said, “Year after year, companies engage in corporate social responsibility activities across communities. So, why are the large budgets dedicated to activities and donations not doing much to move the needle of our continent’s development?
“For far too long, we’ve done CSR as charity, following a model that treats CSR as an act of philanthropy rather than a core part of business strategy. This often leads to one-off, superficial activities that fail to deliver lasting impact.
“If, instead, we craft CSR as an integral part of our business strategies, aligned with our core operations and value proposition, we can create lasting, scalable impact while also strengthening our businesses.
“As business leaders and government officials, we have the opportunity and, indeed, the responsibility to redefine the role of business in Africa.
“Beyond communities, Government’s role in promoting CSR and creating an enabling environment is also paramount, from enacting policies to providing incentives.
“Indeed, a united approach to CSR and community development holds the promise of a more inclusive and sustainable future for Africa.”
On his reign in Warri, the Olu regarded himself as Development Ambassador, explained that he was focused on strategies and networking among international, national, and subnational stakeholders, to foster unity and spur socio-economic development in Warri Kingdom.
“In Warri, we know the potential of such an approach, so our focus in the Kingdom is to create sustainable impact. Not through handouts or isolated interventions, but by equipping our people with the resources, knowledge, and opportunities to unlock their potential long-term.
“Our initiatives, from skill acquisition and teacher training programs to supporting entrepreneurship and financial inclusion, address the root causes of lack of development and lay the foundation for long-term results.
“We are not a business, but we work with businesses to achieve our aims. More than that, we know intimately what it will take to achieve development in our communities,” he stated.
