It is estimated that 17% of the world’s population lives in Africa. Yet the country only accounts for about 3% of global GDP. Its economic potential has remained dormant for generations. Still, with the right investment and opportunities, the resource-rich continent could emulate the rise of a country such as China. That’s why the Chairman of DafriGroup PLC, Xolane Ndhlovu, believes in launching various CSR initiatives to help boost its lagging economy.
“The ethos of DafriGroup is to initiate long-term returns which can move Africa’s economy forward,” explained Xolane, who elaborated, “We focus on unlocking potential others cannot see and are determined to further expand our corporate social responsibility through a wide range of initiatives.”
The positive impact the initiatives will have speak for themselves. Through its newest company DafriBank, the Dafri Group pledged a N100 million commitment to the Nigerian educational system- Fund Kids Like Success. Xolane revealed, “The culture and focus of DafriGroup is one of community. We are also firm believers that education is the parent of success. With this in mind, we are providing support grants to help struggling and out of school students help pay their school bills. An educated Africa is a healthy Africa.”
Like the rest of the world, Africa’s focus is on fighting the COVID-19 pandemic, which has ravaged the country. Xolane and his company UMEH Group Proprietary Ltd. has already donated R500,000 to help Africa deal with the pandemic and is offering on-ground assistance for underprivileged communities who lack the facilities, sanitation, food supplies, and finance to deal with the virus adequately. “COVID-19 is everyone’s social responsibility,” declared Xolane. “We are all in this together, and we must all stand united and hold firm. Only then will we halt the transmission rate of the virus and be in a position to build back stronger.”
In the aftermath of COVID-19, Africa’s economy will need a boost. Xolane is already planning for his beloved country’s future. Several donations in terms of victim relief, emergency food supplies, and research-centric donations have been initiated through the Dafri Group.
“We’re pleased to announce that DafriGroup has injected $5 million of seed funding into Africa’s digital-only bank, DafriBank,” said the philanthropist, who added, “This investment will empower businesses across the continent and target startups with high growth potential in a bid to help Africa become a world power to be reckoned with.”
Established in 2019 by Xolane, DafriGroup has its headquarters in South Africa and operates an ever-growing number of subsidiaries to help boost the country’s prosperity. As part of its commitment to corporate social responsibility, the company will begin operating DafriBank in the third quarter of 2021. Xolane said, “DafriBank will transform the old commercial banking systems with its revolutionary “Digital Banking model.” It will provide new opportunities to the African population through future-centric ideals focused on realising an economically liberated continent.”
One of DafriBank’s key initiatives will be to serve those excluded from global financial systems due to poverty, the lack of bricks and mortar banks, and a reluctance by digital organizations such as PayPal to allow Africans full access to their platform’s functions.
Dedicated to serving every stratum of society, the Dafri Group and DafriBank continue to help Africa evolve from a third world country into a progressive and prosperous nation. Xolane continues to focus on CSR as he prepares for the launch of the much anticipated DafriBank.