The Business Trust combines the resources of business and government to create jobs, build capacity and combat poverty. The Business Trust believes that by working together, much more can be achieved than by independent action.
Resources are mobilised from companies operating in South Africa to support programmes that accelerate the achievement of agreed national objectives. Since 1999, over 140 companies have committed more than R1,2bn to the Business Trust.
Why work together?
- In addition to their normal commercial contributions and individual social roles, companies can achieve much in the social arena by working together and in partnership with others.
- Partnerships between business and government can produce results in a way and at a pace that would not otherwise be possible.
- In partnership, business and government can develop innovative programmes that respond to challenges at the scale of the problem.
- Properly managed, business logic can be helpful in the process of development.
- Social goals of building trust and enhancing the standing of business and the value of partnerships can be pursed through practical action such as the programmes of the Business Trust that will benefit millions of poor people.
- In the South African context of a society historically defined by division, the commitment to work together can help to build a prosperous nation.
What does Business Trust do?
By 2011 the Business Trust partnership aims to ensure that South Africa has:
- A viable tourism enterprise support system;
- A competitive business process outsourcing industry;
- An increased capacity through skills acquisition and the development of infrastructure;
- An expanded public works programme functioning at a scale with appropriate private sector participation;
- An approach to urban and rural development that incorporates increased economic and social investment in poor areas;
- A strengthened model for business-government co-operation;
- An increasingly effective dialogue on the strategic issues affecting growth, investment and jobs; and
- A growing appreciation of the commitment of business, the value of partnership and the contribution of the Business Trust.
Key features:
The Business Trust was designed to give substance to the commitment to work in partnership, show a meaningful and measurable result in a limited period, contribute to addressing some of the most critical issues facing South Africa, and contain management costs. The model incorporates a number of important design features:
- Social goals and project objectives
- Equitable corporate funding
- Joint business/government oversight
- Limited portfolio
- Large-scale projects
- Strategic partner implementation
- Impact and output targets
- Extensive evaluation
- A parallel consultative body
