Environmental CSR Related Issues in South Africa Essay

Environmental CSR Related Issues in South Africa Essay

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7. Corruption: Corruption is the theft or abuse of a country’s funds to benefit only the person committing the act. Corruption in South Africa is most evident under officials who abuse taxpayer’s money for their own benefit. Officials purchase expensive possessions and ignore the demands of the people. Corruption and fraud has caused the bankruptcy of many businesses in South Africa and has resulted in further poverty and unemployment. Government is doing little to combat corruption and fraud, but unsurprisingly as many high ranking government officials are guilty of corruption. Many businesses commit fraud and corruption simply to receive a higher tax return or Directors who increase their own salaries, thus postponing the transformation of society. Thus businesses need to adopt stricter policies by complying with the King 2 Reports and the Latest report which requires the disclosure of director remunerations, transparency and accountability so that all stakeholders are aware of what is occurring within the walls of the business.

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Although South Africa is a land with opportunity, it is not being utilized. Many social issues have arisen over the years, but the main ones are corruption, crime, HIV/AIDS, unemployment, poverty, racial discrimination and migration. Migration is the main cause of unemployment and job loss, but in turn migration is caused by crime and corruption. South Africa has a large network of ‘cause and affect’ issues that need to be resolved, but government is approaching its situation unprepared and unaware, however most of these issues are the result of poor supervision that ensures businesses uphold policies and laws that are put in place and the lack of non-corrupt supervision to ensure correct ...


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...10/governance-reports.html, 22 April 2011
 ABSA Dividend History, ABSA Investor Centre, http://www.absa.co.za/Absacoza/About-Absa/Investor-Centre/Dividends, 25 April 2011
 ABSA Share Information, ABSA Investor Centre http://www.absa.co.za/Absacoza/About-Absa/Investor-Centre/Share-Information, 25 April 2011
 ABSA Share Prices, Money Am, http://www.moneyam.com/shareprice/42FI, 25 April 2011

MAGAZINES:
1. PNP 2009 Annual Report. 29 Jan 2010. Pgs 1-14.
2. PNP 2010 Annual Report. 29 Jan 2011. Pgs 4, 18, 22,32, 33
3. ABSA 2010 Annual Report. 29 Jan 2011. Pgs 21, 23, 26, 125, 325, 332, 336, 512

BOOKS:
1. Haber, I. Katherine, II & Geoffrey. 2001. Heinemann English Dictionary. Oxford, United Kingdom. Heinemann Educational Publishers.
2. Meyer, E & Russel, Y & Topper, S. 2011. Studying Business. Paardekraal. Excom Publishers CC. Pages used: 33, 195, 202

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