Warning Over CSI Spending Cuts

Concern is growing amongst NGOs and development practitioners as corporates review funding priorities in light of the economic slowdown.

A recent article points out that the current economic crisis is forcing many corporates to re-think their spending priorities, thus affecting their corporate social investment programmes.

CEO of Tshikululu Social Investments, Tracey Henry says there is already a discernible cutback in funding for social spend. Henry has been quoted as saying that, “This is inevitable because often CSI contributions are determined as a percentage of post-tax profit, so when profits are down, less money is obviously available.”

To read the article entitled, “CSI spending cuts will hurt vulnerable,” click www.thetimes.co.za/PrintEdition/Insight/Article.aspx?id=968799 ">here.