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Corporate Social Responsibility initiatives have traditionally focused on making donations to underprivileged communities with a view to earning scorecard points or creating a photo opportunity. Often these interactions with impoverished communities are once-off affairs that benefit only a few, deepen dependency levels, offer temporary relief and no real long-term benefits for both the company and the community.
The community leadership of Wallacedene and France together with social entrepreneurial brands Mobicom and E-Spaza are embracing a new approach to community transformation or Corporate Social Investment as per corporate terminology. This approach has been developed to offer numerous long-term benefits and real, measurable economic gains for both corporations and the communities within which they operate.
By adopting Roberts’ Enterprise Development Fund (REDF) mindset, developed in the mid-1990’s, the community leaders have adopted the innovative framework called Social Return on Investment (SROI).that will be used by the community and the associated partners to calculate the economic and socio economic impact of the transformation initiative. REDF broke the benefits of the social venture into two parts: enterprise value and social purpose value. The combined value of the REDF model is called the blended value. For more detail please refer to Social Development Q iii below.