Corporate Social Responsibility as an Enabler of Socio-economic Restoration in Post-COVID-19 Business Environment in South Africa and Nigeria

Abstract

The emergence of the COVID-19 pandemic early in 2020 has had unexpected consequences on virtually all aspects of human development, particularly businesses. Regrettably, the economies of most African countries are in a fragile state, and that fragility has had an effect on entrepreneurship, and in particular, small businesses that experienced the full brunt of the pandemic. This article seeks to examine the concept of corporate social responsibility (CSR), with a view to re-appraising the role of businesses, and to determine the extent to which CSR could facilitate post-pandemic socio-economic restoration and boost economic growth. To achieve this objective, the author engages in a qualitative study comprising a review of primary and secondary sources relating to CSR and its other variants. The role of CSR and how it can drive productive entrepreneurship, focusing on the two leading economies in Africa, namely South Africa and Nigeria will be examined. This is done with a view to making recommendations on the potential role of CSR in driving post-pandemic productive entrepreneurship, enhance sustainable development in society, and facilitate socio-economic restoration in a post-COVID-19 environment.