• Sunday, July 14, 2024
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EKEDC driving corporate turnaround

Eko DisCo removes Tinuade Sanda as managing director

For many companies, profit is everything. Their corporate strategy and investment decisions are geared towards maximisation of profit at almost any cost. This self-absorbed corporate culture has been the conventional approach for many companies in Nigeria, Africa and globally.

There is however a growing trend of companies rethinking the essence of a corporation, redefining the place of a corporation in society. This new culture appreciates the place of profit, but not profit at all cost. It values people, community and the environment greatly. It understands that responsible corporate practices are inextricably linked to sustainable financial success. It rejects the false binary of ‘society or profit’. It recognizes that society and profit can coexist within a sound corporate value system. It embraces corporate social responsibility, not as side tokenism condescendly tossed around when convenient, but as an integral part of the soul of the corporation.

One undoubted leader of this new corporate culture is Tinuade Sanda, MD/CEO of Eko Electricity Distribution Company (EKEDC). Her philosophy of Structured Welfarism, as it has been succinctly phrased, has been the fuel behind her social responsibility drive at the company. The Sanda Structured Welfarism philosophy, simply put, is a system of corporate social responsibility which elevates social intervention as a core and integral part of the corporate essence, vision and culture, not as a mere voluntary, expendable tokenist offering.

Read also: Prolonged oil production shutdown due to attacks on export pipeline

When Sanda was appointed about a year ago, it became absolutely clear within days that it was no longer business as usual— a carefully defined sustainable social impact plan was to be developed and consistently implemented. To realize this, she speedily developed and launched an integrated CSR plan with four pillars. The pillars are Health &Wellness, Education, Technology, and Sports.

Over the several months since its launch, impactful projects consistent with its four pillars have been executed. These projects have included outreaches to schools and communities, as well as meaningful partnerships for impactful programmes and events.

Some of these include EKEDC’s partnership with the United States Agency for International Development (USAID) in the launch of the Energy Club programme in Lagos secondary schools, a STEM initiative aimed at boosting the next generation’s interest and participation in subjects related to science, technology, engineering, and mathematics; donation of a full-range children’s playing ground to Oremeji 2 Nursery and Primary School, Tolu School Complex and Ajegunle – Apapa school; sponsorship of the 2022 Lagos International Polo tournament, the T20 Invitational Women’s Cricket tournament, and the Festival of Table Tennis organized by the International Table tennis Federation.

Across education, technology, health and sports, the indelible marks of people and community-centred social responsibility have been boldly seen, and all under one year!

Sanda has led her team admirably in the pursuit of objectives that transcend the pure pursuit of profit. And the reward has been two-fold— profit has soared and brand value has appreciated. Good social responsibility policy has indeed been good business for EKEDC. As she has argued, this is especially so in the energy sector where constructive engagement and social sensitivity are essential to sustainable success. Sanda cracked the code early and EKEDC is the better for it.

The Sanda approach to corporate social responsibility— founded on Structured Welfarism— is indeed a model for companies in Nigeria, Africa and beyond. Should it be adopted by many more companies, the private sector and society at large will be the better for it. The time is now!

For many companies, profit is everything. Their corporate strategy and investment decisions are geared towards maximization of profit at almost any cost. This self-absorbed corporate culture has been the conventional approach for many companies in Nigeria, Africa and globally.

There is however a growing trend of companies rethinking the essence of a corporation, redefining the place of a corporation in society. This new culture appreciates the place of profit, but not profit at all cost. It values people, community and the environment greatly. It understands that responsible corporate practices are inextricably linked to sustainable financial success. It rejects the false binary of ‘society or profit’. It recognizes that society and profit can coexist within a sound corporate value system. It embraces corporate social responsibility, not as side tokenism condescendly tossed around when convenient, but as an integral part of the soul of the corporation.

One undoubted leader of this new corporate culture is Tinuade Sanda, MD/CEO of Eko Electricity Distribution Company (EKEDC). Her philosophy of Structured Welfarism, as it has been succinctly phrased, has been the fuel behind her social responsibility drive at the company. The Sanda Structured Welfarism philosophy, simply put, is a system of corporate social responsibility which elevates social intervention as a core and integral part of the corporate essence, vision and culture, not as a mere voluntary, expendable tokenist offering.

When Sanda was appointed about a year ago, it became absolutely clear within days that it was no longer business as usual— a carefully defined sustainable social impact plan was to be developed and consistently implemented. To realize this, she speedily developed and launched an integrated CSR plan with four pillars. The pillars are Health &Wellness, Education, Technology, and Sports.

Over the several months since its launch, impactful projects consistent with its four pillars have been executed. These projects have included outreaches to schools and communities, as well as meaningful partnerships for impactful programmes and events.

Some of these include EKEDC’s partnership with the United States Agency for International Development (USAID) in the launch of the Energy Club programme in Lagos secondary schools, a STEM initiative aimed at boosting the next generation’s interest and participation in subjects related to science, technology, engineering, and mathematics; donation of a full-range children’s playing ground to Oremeji 2 Nursery and Primary School, Tolu School Complex and Ajegunle – Apapa school; sponsorship of the 2022 Lagos International Polo tournament, the T20 Invitational Women’s Cricket tournament, and the Festival of Table Tennis organized by the International Table tennis Federation.

Across education, technology, health and sports, the indelible marks of people and community-centred social responsibility have been boldly seen, and all under one year!

Sanda has led her team admirably in the pursuit of objectives that transcend the pure pursuit of profit. And the reward has been two-fold— profit has soared and brand value has appreciated. Good social responsibility policy has indeed been good business for EKEDC. As she has argued, this is especially so in the energy sector where constructive engagement and social sensitivity are essential to sustainable success. Sanda cracked the code early and EKEDC is the better for it.

The Sanda approach to corporate social responsibility— founded on Structured Welfarism— is indeed a model for companies in Nigeria, Africa and beyond. Should it be adopted by many more companies, the private sector and society at large will be the better for it. The time is now!