Awareness of corporate social responsibility (CSR) among Egyptian companies has surged to 94% in 2023, up from 84% in 2022, according to a survey by Cicero & Bernay and CARMA. This survey included around 340 senior executives from various sectors across the UAE, Saudi Arabia, Egypt, the Levant, and other Gulf countries. This increase highlights Egypt’s leadership in CSR awareness and practices in the Middle East and North Africa (MENA) region. The report, covered by Al Borsa Newspaper, reveals some key findings that we would like to share.
Key Findings:
- Awareness in Egypt, UAE, and Saudi Arabia collectively averaged 93% in 2023, compared to 84% in 2022.
- Over 80% of executives plan to enhance CSR activities in 2024, reflecting a 10% increase from 2022.
- The report emphasises the importance of environmental, social, and governance (ESG) standards, with 84% of business leaders viewing them as crucial to their strategies.
Impact of CSR:
- More than 80% of executives report positive impacts of CSR on customer engagement, profitability, and competitive positioning.
- 71% of companies have active CSR programs, and 24% are preparing to launch initiatives.
- The report highlights the shift from CSR to adopting comprehensive ESG practices, seen as a transformative journey rather than a trend.
The increasing awareness and commitment to CSR in Egypt and the broader MENA region indicate a positive shift towards more responsible and sustainable business practices. As companies continue to prioritise CSR and ESG standards, the benefits to customer trust, engagement, and overall business performance are becoming increasingly evident.
The report contains several interesting points that we believe you’ll find valuable. We invite you to explore the full findings by viewing the report.
