Africa to host summit on shared value

Shared value is not social responsibility, philanthropy or sustainability but a new way for companies to achieve economic success...

The inaugural Africa Shared Value Summit, which will take place in Johannesburg in May, aimed to position Africa as a leader in shared value business models, Tiekie Barnard, the CEO of Shift Social Development, organiser of the summit, said on Thursday.

"Shift partners with business to co-create shared value strategies," Barnard said.
The conference is modelled on the annual shared value leadership summit in New York.
Harvard Business School professor Michael Porter introduced the concept in a Harvard Business Review article in 2006. "Shared value is not social responsibility, philanthropy or sustainability but a new way for companies to achieve economic success," he said.

Porter and shared-valued consulting firm FSG launched the Shared Value Initiative in 2012 that advocates for the business strategy that "reconnects company success with social progress". Marc Pfitzer, an MD at FSG, will be one of the speakers at the summit, together with representatives from organisations that implement shared value strategies.
According to Barnard, businesses often confuse shared value with corporate social investment, which it is not.

"Large corporates should be driving a shared value agenda. The social agenda is the business agenda," said Sazini Mojapelo, head of group citizenship at Absa, the main sponsor.
@BDliveSA