Chief executive of the South African Institute of Black Property Professionals (SAIBPP) Vuyiswa Ramokgopa has called on the business community to enter into partnerships with local communities. Affording communities a stake in the economy would encourage them to look after these assets and protect them from threats.
She said that this was demonstrated during the recent riots where communities rallied to protect particular shopping centres – such as Maponya Mall in Soweto – in which they felt a sense of ownership.
She remarked: ‘When companies value the communities within which they operate and look for opportunities to partner with them, versus just giving to them or talking at them, they are able to realise greater shared value and manage long-term risk.’
Businesses should align with communities to extend opportunities to the poorer parts of society. The riots had indicated that South Africa needed ‘to do things differently, to form these new alliances and new social values that will ultimately create a true sense of belonging for all who call this country home.’
To turn townships into productive economic centres, she suggested that businesses operating in them needed to create ownership arrangements to enable people to make investments so as to be involved in both risks and rewards. This could be done through local procurement and partnership schemes, and centres could move beyond retail to providing space for social and entertainment activities.
[Photo: bbc.com]