Proceedings of The 11th International Conference on New Ideas in Management, Economics and Accounting
Year: 2023
DOI:
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CSR activities in the Ghanaian oil and Gas industry: Current trends and future implications
Louisa Amoako Quaicoe, Godfred Takyi, Professor Kwaku Atuahene-Gima
ABSTRACT:
Corporate Social Responsibility (CSR) activities are to moderate the socioeconomic and human capital developmental challenges by two (2) major state-owned oil and gas companies in Ghana, the Ghana National Petroleum Corporation (GNPC) and the Ghana National Gas Company (GNGC). This paper examines the current trend of CSR activities using content NviVO-12 software to analyze audio, video, and image data, of the CSR reports of GNPC (2016-2022) and GNGC (2016-2022); and future implications on the company. The challenges encountered in undertaking CSR activities in state-owned companies. These are essential to establishing the link between the desired outcomes of CSR activities and the financial investments made in that regard. This is also to address the problem of immeasurable outcomes of CSR, as this study aims to deduce the unambiguous social impacts of the CSR efforts by GNPC and GNGC. The findings show that CSR activities are mostly spread across other parts of the country than within the front-line oil and gas communities. The current trend of CSR activities on health, sports and educational facilities, is moving to education scholarships. The CSR trend from 2020-2023 show increased investment in education scholarships for GNPC and local community engagement through water and sanitation for GNGC. The main challenge for GNPC is government interference in the CSR programmes, budget allocation and approval. The future implication is that external influences will significantly impact the company’s commercial and financial investment decisions as the CSR activities are skewed towards government programmes.
keywords: companies, CSR, Ghana, oil and gas, state-owned