Corporate Social Responsibility (CSR) is the responsibility that companies recognize for acting in a socially responsible way. ‘While there is no single commonly-accepted definition of Corporate Social Responsibility, it generally refers to business decision-making linked to ethical values, compliance with legal requirements, and respect for people, communities and the environment’ (Business for Social Responsibility). The concept of Corporate Social Responsibility has been in existence since mercantile started. One of the main features of CSR is to provide a good service to the community.
In Free Zones the most important aspect of CSR is corporate ethics and overall governance. This sets the minimum standard for operators in the Free Zones. One of the main motives of incorporated companies operating in zones engaged in social responsibilities is to boost their reputation both locally and internationally.
In all, there is no ‘’one – size – fit – all’’ approach to corporate governance therefore all organisations and industries will need to device its framework in ways that best work for it. It is for this reason that Africa Free Zones Association (AFZA) wishes to discuss the guidelines that Free Zones should adopt in the conduct of their various functions in the Zone.
‘’Quality Is Not An Act. It Is a Habit’’ – Aristotle.
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