Janet Matthee Are businesses doing enough to give back to the communities in which they work? This has been a question that many South African companies have faced since Corporate Social Investment (CSI) programmes became more widespread and formalised in the country. The answers haven’t always been favourable. The findings of Anglo American’s R100m investment into education between 2010 and 2014 are a great example of how CSI programmes can be inneffective in reaching set objectives[2]. This is according to Paschal Phelan, Chairman of Solar Capital – developers of the largest solar farm in the Southern Hemisphere – who says that the success of a company is not simply down to intelligent business models, but that it also relates to meaningful interaction within the community affected by the business, as well as investment into sustainable, developmental projects with positive long-term effects. “Too many companies’ CSI programmes remain on the periphery of their business objective...

The success of the Department of Energy’s (DoE) Renewable Energy Independent Power Producers Procurement (REIPPP) Programme is a shining example of South Africa’s ability to undertake large infrastructure programmes to boost the local economy despite the current period of slow growth internationally. This public-private partnership programme has allowed for energy growth and successful private investment, which contrasts with a number of other international renewable energy programmes that have faced difficulties and setbacks. According to Paschal Phelan, Chairman of Solar Capital, the renewable energy developers involved in the REIPPP Programme have funded their facilities largely through independently sourced international investors and local banks making these projects viable in the SA market. "About R47bn of the programmes awarded bidder status reached financial close in the first round and R28bn in the second round of the REIPPP Programme.” A recent Investec report on renew...