CAPE TOWN – Companies spent an estimated R9.7 billion on corporate social investment (CSI) in South Africa in 2018 – a 7 percent year-on-year increase in rand terms, from R9.1bn in 2017 and, taking inflation into account, the first real increase in five years, according to CSI and sustainability consultancy Trialogue.
The company launched the 21st edition of the annual Trialogue Business in Society Handbook in Johannesburg today on Thursday.
The mining, financial and retail sectors together accounted for just under two-thirds of total CSI expenditure, with mining and quarrying alone contributing a quarter of total CSI spend. CSI spend remains concentrated among larger companies, said Trialogue managing director Nick Rockey.
“The top 100 companies (by CSI spend) invested R6.9bn, or nearly three-quarters of the total CSI spend. Just 17 companies accounted for well over half of the total amount spent by the top 100 companies.”
Nearly two-thirds of companies surveyed by Trialogue reported an increase in their CSI spend in the 2018 financial year.