Cambridge University Press 978-1-107-16070-5 — Africapitalism Edited by Kenneth Amaeshi , Adun Okupe , Uwafiokun Idemudia Index More Information

Index

Access Bank environmental protection economic patriotism and, 152–3, 176 campaign, 149 FDI and, 76 accounting, 270 MNEs and, 6 adaptability, private sector leadership peace and harmony and, 175, 207 and, 186 private sector and, 197 Adegbite, E., 76, 78, 79, 80, 81, 86–7 progress and prosperity and, 174, 204 Adler, N.J., 196 psycho-social human well-being and, AfDB. See African Development Bank 107, 119 Africa. See also speciﬁc topics shareholder activism and, 79 potential of, xiii social wealth and, 118–19 rise of, recent, 21–2 Ubuntu and, 225 weaker trade position of, 168 Amao, O., 6, 79 African Development Bank (AfDB), 127–8 Amin, Idi, 241, 244 African Humanism, 264–6 Amine, L.S., 204 African Leadership Institute, 195–6 Andela, 153–4 African Peer Review Mechanism (APRM), 83 Angelidis, J.P., 87–8 African Socialism, 264–6 Angola Africanness, 268 coffee and, 242 Africapitalism. See speciﬁc topics FDI and, 220–1 Africapitalism, four cardinal values of, 147–9, anti-capitalism, 2 154–5, 158, 168, 174, 199, 200–1, 272. See apartheid, South African, SRI and, 216–17 also parity; peace and harmony; place APRM. See African Peer Review Mechanism and belonging; progress and prosperity Asiedu, E., 221 Africapitalism index, 92 aspirational ideology, Africapitalism as, Africapitalism Institute, 19, 46. See also 262, 275 Edinburgh Project Association of African Business Schools, 276 Afri-consciousness, globalisation and, 36 authority agency theory, corporate governance Conscious Capitalism and, 61 and, 74–5 elites and, 61, 63–4 Agenda 2063: The Africa We Want, 268–70 Sustainable Capitalism and, 61 agricultural knowledge, Good African Coffee and, 248–9 Bacq, S., 198 Ahunwan, B., 78 Bagire, 12 Al-Bassam, W.M., 78 Ban Ki-moon, 19 Amaeshi, K., 101, 262 banking, democratising, xiv Africapitalism, four cardinal values of, Baregu, M., 224 147–9, 154–5, 158, 168, 174, 199, Barney, J.B., 141 200–1, 272 Bass, B.M., 179 capitalism and, 101, 275 BBBEE. See Broad Based Black Economic context and, 198 Empowerment corporate branding and, 140 Benford, R.D., 45, 53

282

© in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-16070-5 — Africapitalism Edited by Kenneth Amaeshi , Adun Okupe , Uwafiokun Idemudia Index More Information

index 283

Bergstrom, A., 142 Capaul, M., 81 Beugré, C.D., 264 capital, access to, 256 Bhattacharya, C.B., 141, 143 capitalism. See also anti-capitalism; Big Treat Confectionaries Plc, 151 comparative capitalism; Conscious Bill Gates Foundation, 126 Capitalism; creative capitalism; global Black, B.S., 80–1 capitalism; Inclusive Capitalism; new Blood, David, 44, 48 capitalisms; nurture capitalism; parasitic Blowﬁeld, M., 34 capitalism; Sustainable Capitalism Blumenthal, D., 142 Africa, indigenous to, 6–7 Blunt, P., 22–3 in Africa, 1–4, 6, 9–10, 71–2 board independence, 87–8, 89 Amaeshi and, 101, 275 corporate governance and, 79–80 Anglo-Saxon, 25 CSR and, 80 China and, 25 peace and harmony and, 88 Continental European, 25 BookBus, 205–6, 207 creative destruction and, 30–1 borrowed paradigm, tyranny of, 6, 22 culture and, 25 Bosshard, P., 226 as discourse, 8 Bourdieu, P., 43 elites critique of, 43–4, 62–3 Bourveau, T., 79 ﬁnancial crisis, 2008 and, 24 Boyacigiller, N.A., 196 laissez-faire, 25–8 brand loyalty legitimacy crisis and, 42–3, 62 corporate branding and, 153–4, 155, 157 morality and, 24–5 economic patriotism and, 152–4 as out of kilter, 101 Brautigam, D., 227 regulated, 25–8 Brickley, J., 87 self-interest and, 31, 50, 103 Broad Based Black Economic Empowerment as set of practices, 8 (BBBEE), 199 states and, 25 Brüggenwirth, B., 143, 144 traditional cultures and, 2–3 Brundtland, G.H., 30 varieties of, 4–6 Brundtland Report, 169 ‘capitalism unleashed,’ elites and, 53–6, 63 Bundtland, 204 Carmody, P., 6 Burns, J., 179 Carney, Mark, 58 Busia, K.A., 115, 118 Casey, E.S., 86–7 Business Action for Africa, 124–7 CC. See corporate citizenship business and society, business in society centralised government, 53 compared to, 7 CEOs business in society, 262–3 Chairmen and, 80, 87 business and society compared to, 7 Inclusive Capitalism and, 51 context and, 20 Nigeria and, 80 entrepreneurs and, 10–11 Chairmen, CEOs and, 80, 87 leadership and, 173 charity, Elumelu and, 199–200 Business Partnerships for Development in Charles (Prince), 50 Africa, 124–7 cheap products, Chinese FDI and, 226, 235 businesses, local China, 33 Elumelu and, 232–3 capitalism and, 25 FDI and, 232–3, 235 CSR and, 229–30 Tony Elumelu Foundation and, 232 FDI and, 14–15, 217–19, 221–33 China Exim Bank, 224, 226 California Management Review,47 Chitonge, H., 1 Cameroon, 126 Chua, A., 71

284 index

civil society, 187 Companies with a Conscience (Rothman and Clift, B., 152 Scott), 47 Clinton, Bill, 50, 245 comparative capitalism, 5 CME. See Coordinated Market Economies compensation structures, Sustainable Coalition for Inclusive Capitalism, 50 Capitalism and, 49–50 Coca Cola, 125 competitive markets, transparency of, 47 Code of Corporate Governance for Banks in CON. See commander of the order of the Nigeria, 82 Niger Code of Corporate Governance for Insurance conditionalities, Chinese FDI and, 226 companies, 82 conﬁdence, Africans lacking, 35 Code of Corporate Governance for Pension Connell, R., 261 Operators, 82 Conscious Capitalism, 44, 52, 53–62 coffee, 242–4. See also Good African Coffee; authority and, 61 Uganda Coffee Development Authority culture and, 48 Angola and, 242 leadership and, 48, 60 Cote d’Ivoire and, 242 purpose and, 47–8, 53, 56 Ethiopia and, 242 ‘short to long’ and, 57–8 fair trade and, 247–8 solidarity and, 62 Uganda and, 241, 242–4 stakeholders and, 48, 59 Coles, J., 87 Conscious Capitalism: Liberating the Heroic collaborative governance, development and, 11 Spirit of Business (Mackey and Sisodia), collective action 47, 57–8 elites and, 65–6 context private sector leadership and, 186–7, Amaeshi and Idemudia and, 198 188–9 business in society and, 20 sustainable development and, 186–7 corporate governance and, 73 collectivism, 9, 263–4. See also Ubuntu CSR and, 198 colonialism, 3, 6, 264–5, 268 human capital development and, 111–12, human capital development and, 110–12 117–18 human capital theory and, 109–10 leadership and, 173, 180 management education and, 267 management education and, 269 commander of the order of the Niger management theories and, 23, 274–5 (CON), 72 social entrepreneurship and, 198–9, 203–4 commercial ﬁrms, social entrepreneurship Cookswell, 205, 207 and, 211 Cooper, F., 4 common good, 22, 29 Coordinated Market Economies (CME), 5–6 communication, leadership and, 183–5 core-periphery divisions, management communism, 5 education and, 266–7 community corporate advocacy. See also Access Bank common good and, 29 environmental protection campaign human capital development, 115, corporate branding and, 149, 155, 157 117–18, 119 Nigeria and, 149 private sector leadership and, 183–5 corporate branding, 13–14, 138–59. See also social entrepreneurship and, 209 CSR branding Ubuntu and, 22, 28–9, 117 Africapitalism framework for, 154–7, 158 community based organisations, 202 Amaeshi and Idemudia and, 140 community development, Good African brand loyalty and, 153–4, 155, 157 Coffee and, 15, 247, 248 corporate advocacy and, 149, 155, 157 community intervention, management corporate co-branding and, 149–51, education and, 273 155, 157

index 285

corporate green brand identity and, economic dimension of, 141 151–2, 155, 157 models of, 142–3, 144 Good African Coffee and, 254–5 Nigeria and, 138 Nigeria and, 139 shared values and, 142 parity and, 149–51, 157, 159 societal dimension of, 141 peace and harmony and, 151–2, 157, 159 societal well-being and, 142 place and belonging and, 152–4, 157, 159 South Africa and, 138 progress and prosperity and, 149, 157, stakeholders and, 140–1 158–9 sustainability and, 137–8 Rugasira and, 254 voluntary nature of, 140–1 corporate citizenship (CC), 34 corporations corporate co-branding development and, 27–8 corporate branding and, 149–51, 155, 157 governance role of, 27–8 Nigeria and, 151 cost, human capital development and, 121–3 corporate governance, 13, 71–92. See also Cote d’Ivoire, coffee and, 242 Code of Corporate Governance for Banks Cox, K.R., 3 in Nigeria; Code of Corporate Cramton, P.C., 85 Governance for Insurance companies; Crane, A., 140 Code of Corporate Governance for creative capitalism, 26 Pension Operators; Pan African creative destruction, capitalism and, 30–1 Consultative Forum on Corporate Crouch, C., 27 Governance CSR. See Corporate Social Responsibility agency theory and, 74–5 CSR branding, 139–49, 157–9. See also board independence and, 79–80 Microsoft 4 Afrika context and, 73 culture. See also traditional cultures disclosure and, 78–9 capitalism and, 25 FDI and, 76 Conscious Capitalism and, 48 institutional investors and, 80–1 management education and, 271 institutional theory and, 75–6 literature on, 74–7 Dahlsrud, A., 140 Nigeria and, 81–2 Dangote, Aliko, 87 regulatory limitations and, 83–5 debt, FDI and, 219 regulatory responses and, 81–3 Decent Work Country Programme, 195–6 shareholder activism and, 79 decolonisation, 266–8, 276 shareholders and, 74–5, 76 Dees, J.G., 85, 272 South Africa and, 82–3 Department for International Development stakeholder theory and, 75 (DFID), 124–5. See also Business Action stakeholders and, 72–3 for Africa; Business Partnerships for corporate green brand identity, corporate Development in Africa branding and, 151–2, 155, 157. See also Desai, C., 276 ShopRite sustainability campaign development, 11–12, 21–2, 167. See also corporate ownership, disclosure and, 78 community development; human capital Corporate Social Responsibility (CSR), 21, 34, development; sustainable development 137–8, 200, 262–3. See also CSR branding collaborative governance and, 11 in Africa, challenges of implementing, corporations and, 27–8 147–8 neoliberalism and, 267 beneﬁts to businesses of, 141–2, 143 private sector investment and, xiii, 77, board independence and, 80 100–1 China and, 229–30 development economics, human capital context and, 198 theory and, 108–9

286 index

DFID. See Department for International Edwards, R., 200 Development EFMD. See European Foundation for Dhir, A.A., 79 Management Development disclosure, 85–6, 89 Ekeh, P., 22 corporate governance and, 78–9 elites corporate ownership and, 78 authority and, 61, 63–4 parity and, 86 capitalism, critique of, and, 43–4, 62–3 shareholder activism and, 79 ‘capitalism unleashed’ and, 53–6, 63 discourse collective action and, 65–6 capitalism as, 8 disapproval for, 43 elites and, 43–4 discourse and, 43–4 discussion, leadership and, 185–6 economic philosophies of, shared, Dobler, G., 224 51–64 doctoral education, management theories as experts, 43–4, 60–4 and, 274 frame analysis of, 44–5 doing good to do well, 34, 46, 200 holism and, 58–60, 63 Donaldson, T., 24–5 identity and, 43–4, 60–4 Downs, Y., 78 ‘short to long’ and, 56–8, 63 Du, S., 141, 143 solidarity and, 61–2, 64 Dube, Lucky, 245 symbolic capital and, 43–4, 63 Dunfee, T.W., 24–5 walking the talk and, 64–5 Dunning, J.H., 26 Elumelu, Tony O., 19, 44, 46–7, 72, 100, 199–200, 262. See also Tony Elumelu Easterly, William, 255 Foundation Ecoﬁnder Kenya, 209 businesses, local and, 232–3 economic growth, education and, 114 charity and, 199–200 economic patriotism, 33, 35–6, 104, 159. See doing good to do well and, 200 also place and belonging private sector and, 167, 197 Amaeshi and Idemudia and, 152–3, 176 solidarity and, 61–2 brand loyalty and, 152–4 emotion, 33–5 entrepreneurs and, 46 emotional intelligence, 111, 117 Good African Coffee and, 251 Emotional Quotient (EQ), 120 human capital development and, 123 entrepreneurs, 3–4 economic philosophies, elites sharing, 51–64 attitudes of, 9 economic rationality, human capital business in society and, 10–11 development and, 110, 114–15 economic patriotism and, 46 Edelman Trust Barometer, 43 place and, 10–11 Edinburgh Project, 19–20 sustainable development and, 21–2 education, 178. See also doctoral education, entrepreneurship. See also social management theories and; management entrepreneurship education funding of, 46, 57 economic growth and, 114 society-minded, 101 human capital development and, 110–18, environmental, social and governance issues 127–8 (ESG issues), 49–50, 52, 59–60, 216 Kenya and, 115 environmental concerns, South Africa and, Nigeria and, 115 231–2 Nyerere and, 266 environmental impact, Chinese FDI and, parity and, 103 228–30 peace and harmony and, 120–1 EQ. See Emotional Quotient social wealth and, 107 Escobar, A., 32

index 287

ESG issues. See environmental, social and Friedman, Milton, 262 governance issues funds of knowledge approach, management Eskom Development Foundation, 138 education and, 273 Ethiopia, 126 coffee and, 242 Gabon, Chinese FDI and, 229 European Foundation for Management Gates, Bill, 26 Development (EFMD), 267 Generation Investment Management, 48, 52 expatriates generational responsibility, Sustainable Chinese FDI and, 228 Capitalism and, 58 social entrepreneurship and, 209–10 Ghana, 126, 138, 203–4, 226, 228, 229 experts, elites as, 43–4, 60–4 Giamporcaro, S., 231–2 extended families, African, 203 Gieryn, T.F., 32 Gill, Stephen, 27 Fafunwa, Babs, 109, 116–17, 118 Gini, A., 181–2 fair trade, coffee and, 247–8 Girod, S., 142 Farvaque, E., 78 global capitalism, 9, 24–8 Fast Company,47 Global Multinational Enterprises (MNEs) Fayol, Henri, 267 Amaeshi and, 6 FDI. See Foreign Direct Investment individualism and, 9 Ferns, George, 275 Nigeria and, 6 Filatotchev, I., 80 globalisation, 35, 123 ﬁnancial crisis 2008, 49 Afri-consciousness and, 36 capitalism and, 24 place and belonging and, 31–2 legitimacy crisis and, 42 Goffman, E., 44 sustainable development and, 215–16 Good African Coffee, xiv–xv, 240, 244–57, Fitzsimons, P., 109, 111–12, 114 272. See also Rugasira, Andrew Foreign Direct Investment (FDI), 81, agricultural knowledge and, 248–9 218–35 challenges faced by, 246–7, 255–6 Amaeshi and, 76 community development and, 15, Angola and, 220–1 247, 248 businesses, local and, 232–3, 235 corporate branding and, 254–5 China and, 14–15, 217–19, 221–33 economic patriotism and, 251 corporate governance and, 76 international market and, 252–5 debt and, 219 packaging and, 254 institutional environment and, 220 parity and, 248 natural resources and, 220–1 peace and harmony and, 250 Nigeria and, 220–1 place and belonging and, 250–2 South Africa and, 220–1 progress and prosperity and, 248–9 SSA and, 220–1 quadruple bottom-line approach of, sustainable development and, 14–15, 247–8 215–35 Sainsbury and, 253 Uganda and, 241–2 savings and credit co-operations and, 248 Fortune,47 scaling-up of, 255–6 The Fortune at the Bottom of the Pyramid: ShopRite Checkers and, 252 Eradicating Poverty Through Proﬁts South Africa and, 251, 252 (Prahalad), 50 sustainability and, 250 frame analysis Ubuntu and, 240 of elites, 44–5 UK and, 252–3 identity and, 45 value addition and, 250–2 Frémond, O., 81 Waitrose and, 253

288 index

A Good African Story: How a Small vocationalisation and, 112–13, 115–16 Company Built a Global Coffee Brand human capital theory, 108–10 (Rugasira), 256 colonialism and, 109–10 Gore, Al, 44, 48–9 development economics and, 108–9 governance, corporations role in, 27–8. See neoclassical, 109–12 also collaborative governance, as quantitative, 109 development and; corporate governance; humanness, Ubuntu and, 105 environmental, social and governance hybrid ﬁrms, 197–8, 201–3, 207–8, 247 issues hybridity, 9 government, 65. See also centralised hypernorms, 24–5 government; public sector; state capacity Chinese FDI and, 217–18 Ibrahim, N.A., 87–8 human capital development and, 231 Idemudia, U., 101, 262 social entrepreneurship and, 211 Africapitalism, four cardinal values of, Sustainable Capitalism and, 65 147–9, 154–5, 158, 168, 174, 199, sustainable development and, 177–8 200–1, 272 Gow, I.D., 79 context and, 198 green business movement, 211 corporate branding and, 140 Gu, J., 222, 224, 228 economic patriotism and, 152–3, 176 peace and harmony and, 175, 207 Haida, 231 private sector and, 197 health, sustainable development and, 170 progress and prosperity and, 174, 204 Heilman, B., 2, 3 psycho-social human well-being, Heirs Holdings, xiv 107, 119 history, management education and, 270 social wealth and, 118–19 Hobbes, Thomas, 50 Ubuntu and, 225 holism, elites and, 58–60, 63 identity, 174. See also corporate green Holt, D., 198, 202, 203 brand identity, corporate branding and; Howard, D.P., 87–8 self-identity human capital development, 13, 99–128. See elites and, 43–4, 60–4 also Business Partnerships for frame analysis and, 45 Development in Africa management education and, 271–2 colonialism and, 110–12 IFC. See International Finance Corporation community and, 115, 117–18, 119 Iliffe, J., 1–2 context and, 111–12, 117–18 IMF. See International Monetary Fund cost and, 121–3 impact shares, 92 economic patriotism and, 123 Inclusive Capitalism, 44, 50–1, 52, 53–62. See economic rationality and, 110, 114–15 also Coalition for Inclusive Capitalism education and, 110–18, 127–8 CEOs and, 51 government and, 231 integrated reporting and, 51 human capital theory, neoclassical and, long term thinking and, 51 109–12 market fundamentalism and, 53 inclusivity and, 123–5 performance and, 56 parity and, 119–20, 122, 123–7 solidarity and, 62 peace and harmony and, 120–1, 122 stakeholders and, 51, 59 place and belonging and, 121–7 Sustainable Capitalism and, 52 progress and prosperity and, 119, 122 inclusivity, human capital development and, secularism and, 110–11, 115–17 123–5 SME and, 125–6 individualism spiritual values and, 116–17 Lutz and, 22–3

index 289

management theories and, 266 leadership, 171–4. See also African MNEs and, 9 Leadership Institute; private sector inequality, 30 leadership institutional distance, 232 business in society and, 173 institutional environment, FDI and, 220 communication and, 183–5 institutional investors, 89 Conscious Capitalism and, 48, 60 corporate governance and, 80–1 context and, 173, 180 Nigeria and, 81 discussion and, 185–6 place and belonging and, 86–7 expansion of boundary of, 172, 180, South Africa and, 81 185–6, 189 institutional logics, 233 individual, 180–1 social entrepreneurship and, 204, 208–9 of industry, 176–7 sustainable development and, 233 literature on, 171–4 institutional theory, 5, 75–6 management education and, 272 integrated reporting morality and, 181–2 Inclusive Capitalism and, 51 non-private sector, 189–90 Sustainable Capitalism and, 49 of organisation, 176 International Finance Corporation (IFC), purpose of, 172–3 125–6 responsible, 180–3 international investors, parity and, 119–20 societal well-being and, 181 international market, Good African Coffee transactional, 179 and, 252–5 transformational, 179–80, 183 International Monetary Fund (IMF), 64 legitimacy crisis intersectionality, management education capitalism and, 42–3, 62 and, 271 ﬁnancial crisis, 2008 and, 42 Inyang, B.J., 82 Leys, C., 6 Liberal Market Economies (LME), 5–6 Janssen, F., 198 Lindgreen, A., 142–3, 144 Jarrell, G., 87 literacy, social entrepreneurship and, 205–6 Jevons, C., 143, 144 Littlewood, D., 198, 202, 203 Joffe, H., 83 Littrell, R.F., 264 Jones, M.L., 22–3 Liveris, Andrew, 50 Julian, S.D., 198 LME. See Liberal Market Economies long term thinking. See also ‘short to long’ Kaeser, Joe, 50 Inclusive Capitalism and, 51 Kaplinsky, R., 227–8 private sector leadership and, 187–8 Kennedy, P.T., 2–3 Sustainable Capitalism and, 48–50 Kenya, 2. See also Ecoﬁnder Kenya; Mumwa Lord’s Resistance Army (LRA), 241 Crafts Lounsbury, M., 43 education and, 115 loyalty-driven securities, Sustainable tribal differences and, 203 Capitalism and, 50 Khayelitsha Cookies, 204 LRA. See Lord’s Resistance Army King Reports, 81, 82–3, 89, 262 Lucas, J., 2, 3 Kony, Joseph, 241 Lutz, D.W., 22–3, 196–7 Kotler, P., 142 Kragelund, P., 227 Maak, T., 170, 182 Macamo, E., 6–7 Lagarde, Christine, 43, 64 Mackey, John, 44, 47 Lam, 153 Mahadeo, J.D., 80 Langevoort, D.C., 80 Malherbe, S., 81

290 index

management education, 15, 261–2, 268–76 capitalism and, 24–5 colonialism and, 267 leadership and, 181–2 community intervention and, 273 moral-linguistic project, Africapitalism as, context and, 269 28–34 core-periphery divisions and, 266–7 parity and, 30 culture and, 271 peace and harmony and, 30–1 funds of knowledge approach and, 273 place and belonging and, 31–4 history and, 270 progress and prosperity and, 29–30 identity and, 271–2 Ubuntu and, 28–9 intersectionality and, 271 Morris, M., 227–8 leadership and, 272 Moyo, Dambisa, 255 multidisciplinarity and, 270 Mudimbe, V.Y., 268 PEST assessments and, 270–1 Muir, John, 59 post-capitalist organisations and, 273 multidisciplinarity, management education social entrepreneurship and, 272 and, 270 US and, 267–8 Mumwa Crafts, 207, 209, 210 management idea, Africapitalism as, 77 Mungazi, D.A., 115 management philosophy, Africapitalism, Museveni, Yoweri, 241 174–7, 190–1 management theories Nakajima, C., 76, 80 African, 11–12, 37, 196–7 Namada, 12 context and, 23, 274–5 Namibia, 224 doctoral education and, 274 National Development Plan Vision 2023, 269 individualism and, 266 National Resistance Movement (NRM), 241 shareholders and, 266 natural resources Western, 11–12, 37 Chinese FDI and, 218, 220, 223, 234 Mangaliso, M.P., 196 FDI and, 220–1 Mangena, M., 78–9 Ndlovu-Gatshensi, S.J., 268, 271 Maon, F., 142–3, 144 Negi, R., 3 market, Africa as, 7. See also competitive négritude, 265 markets neoliberalism, development and, 267 market fundamentalism, Inclusive networks, private sector leadership and, 186 Capitalism and, 53 new capitalisms, 12–13 Marshall, A., 109 New Growth Path Framework, 195 Marshall, I., 121 Newell, P., 26 Matten, D., 140 Nigeria, 137, 199. See also Code of Corporate Mazrui, Ali, 109 Governance for Banks in Nigeria; Code of Mbigi, L., 105 Corporate Governance for Pension McBarnet, D., 27 Operators; SEC Code for Corporate Mcdade, B.E., 3–4, 9–11 Governance Mckinsey, 61, 64 CEOs and, 80 Metz, T., 106 corporate advocacy and, 149 Michael, B., 142 corporate branding and, 139 Microsoft 4 Afrika, 140 corporate co-branding and, 151 mission driven ﬁrms, 197–9, 201–11 corporate governance and, 81–2 MNEs. See Global Multinational Enterprises CSR and, 138 Mohan, G., 228 education and, 115 moral obligation, Ubuntu and, 107 FDI and, 220–1 moral psychology, 22 institutional investors and, 81 morality MNEs and, 6

index 291

nurture capitalism and, 2 Amaeshi and Idemudia and, 175, 207 regulatory responses and, 81–2 board independence and, 88 shareholder activism and, 79 corporate branding and, 151–2, 157, 159 Nkomo, S.M., 23, 37 education and, 120–1 Nkrumah, Kwame, 265 Good African Coffee and, 250 NRM. See National Resistance Movement human capital development and, Ntim, C.G., 78, 81 120–1, 122 nurture capitalism, Nigeria and, 2 hybrid firms and, 207–8 Nussbaum, B., 104 moral-linguistic project, Africapitalism Nyerere, Julius, 265, 266 as and, 30–1 private sector leadership and, 175 Oando Oil Marketing Ltd, 151 social entrepreneurship and, 207–8 Obote, Milton, 241 sustainable development and, 176 Offe, C., 25 people, planet, profit, 200 Ofori-Dankwa, J.C., 198 performance, Inclusive Capitalism and, 56 Okeahalam, C.C., 78 PEST assessments, management education Okupe, Adun, 275 and, 270–1 Olutayo, A.O., 71 Pfizer, 137 Omobowale, A.O., 71 Philips, C., 6 Omolewa, M., 119 place, 20–1, 34–5, 86–7 Opong, K.K., 78 entrepreneurs and, 10–11 Osei, K.A., 81 self-identity and, 32 Oxfam, 124–5 South Africa and, 208 Oyovbaire, 6 place and belonging, 104, 148. See also economic patriotism; topophilia PACFCG. See Pan African Consultative corporate branding and, 152–4, 157, Forum on Corporate Governance 159 packaging, Good African Coffee and, 254 globalisation and, 31–2 Pan African Consultative Forum on Good African Coffee and, 250–2 Corporate Governance (PACFCG), 83–4 human capital development and, 121–7 Pan-Africanism, 264–6 institutional investors and, 86–7 parasitic capitalism, 2 moral-linguistic project, Africapitalism parity, 102–3, 148 as, and, 31–4 corporate branding and, 149–51, 157, 159 patriotism and, 32–3 disclosure and, 86 private sector leadership and, 175–6 education and, 103 social entrepreneurship and, 208–10 Good African Coffee and, 248 sustainable development and, 176 human capital development and, 119–20, Ubuntu and, 208 122, 123–7 unwitting application of, 123–7 international investors and, 119–20 Pless, N.M., 170, 182 moral-linguistic project, Africapitalism Polonski, 143, 144 as and, 30 Polonsky, M.J., 143, 144 private sector leadership and, 175 Porter, Michael, 64 social entrepreneurship and, 206–7 post-capitalist organisations, management sustainable development and, 176 education and, 273 unwitting application of, 123–7 poverty Parsons, T., 102 progress and prosperity and, 29–30, 204 path dependence, 229 sustainable development and, 170 patriotism, place and belonging and, 32–3 pragmatism, principled, 26 peace and harmony, 103–4, 148 Prahalad, C.K., 50

292 index

private sector Refait-Alexandre, C., 78 Amaeshi and Idemudia and, 197 regulation, Chinese FDI and, 229–32 Chinese FDI and, 217–18, 222–4, 227 regulatory limitations, 89 Elumelu and, 167, 197 corporate governance and, 83–5 private sector investment, development and, regulatory responses. See also Code of xiii, 77, 100–1 Corporate Governance for Banks in private sector leadership, 167–91 Nigeria; Code of Corporate Governance adaptability and, 186 for Pension Operators; King Reports; in Africa, lack of awareness of, 177 SEC Code for Corporate Governance Africapitalism, explored through, 177–88 corporate governance and, 81–3 Africapitalist, 183–8 Nigeria and, 81–2 collective action and, 186–7, 188–9 South Africa and, 81, 82–3 community and, 183–5 Republic of Ireland, 251 long term thinking and, 187–8 Ritskes, E., 276 networks and, 186 Rivera-Santos, M., 198–9, 203 parity and, 175 Rothman, H., 47 peace and harmony and, 175 Rothschild, Lynn Forester de, 44, 50 place and belonging and, 175–6 Rugasira, Andrew, xiv–xv, 240–1, 244–5. See stakeholder meetings and, 184 also Good African Coffee sustainable development and, 14, capital, access to, and, 256 167–91 corporate branding and, 254 trust and, 185, 190 trade not aid and, 240, 254, 255 proﬁt, 256. See also people, planet, proﬁt value addition and, 255 social entrepreneurship and, 202–3, 206 Ruggie, John, 26 societal well-being and, 262–3 Rwanda, 125–6 progress and prosperity, 102, 148, 174–5. Ryan, L.V., 81 See also psycho-social human well-being Amaeshi and Idemudia and, 174, 204 Saidane, D., 78 corporate branding and, 149, 157, 158–9 Sainsbury, Good African Coffee and, 253 Good African Coffee and, 248–9 savings and credit co-operations, Good human capital development and, 119, 122 African Coffee and, 248 moral-linguistic project, Africapitalism Scherer, M., 111 as and, 29–30 Schoenfeld, J., 79 poverty and, 29–30, 204 Scott, M., 47 shareholder activism and, 88–9 SEC Code for Corporate Governance, 82 social wealth and, 29, 102, 119 secularism, human capital development and, sustainable development and, 176 110–11, 115–17 psycho-social human well-being, Amaeshi Segal, N., 81 and Idemudia and, 107, 119 self-identity, 28–9, 32 public sector, sustainable development and, self-interest, capitalism and, 31, 50, 103 169, 188 Sen, S., 141, 143, 204 purpose Shankar, 153 Conscious Capitalism and, 47–8, 53, 56 shared value, 142, 200–1 of leadership, 172–3 shareholder activism, 89 Amaeshi and, 79 quarterly earnings guidance, Sustainable corporate governance and, 79 Capitalism and, 49 disclosure and, 79 Nigeria and, 79 Rahim, R.A., 141 progress and prosperity and, 88–9 Ramasamy, B., 141 South Africa and, 79

index 293

shareholders progress and prosperity and, 29, 102, 119 corporate governance and, 74–5, 76 sustainability and, 103–4 management theories and, 266 Ubuntu and, 105 Shell Ogoni crisis, 137 social well-being. See societal well-being Shin, S.-P., 79 socialism, 2. See also African Socialism ShopRite Checkers, Good African Coffee societal change. See sustainable development and, 252 societal well-being ShopRite sustainability campaign, 151–2 CSR and, 142 ‘short to long’ leadership and, 181 Conscious Capitalism and, 57–8 profit and, 262–3 elites and, 56–8, 63 Ubuntu and, 106–7 Sustainable Capitalism and, 57 Soga, Tiyo, 265 sin stocks, 216 solidarity Sisodia, Raj, 44, 47 Conscious Capitalism and, 62 Sison, A., 74–5 elites and, 61–2, 64 Sium, A., 276 Elumelu and, 61–2 Small-to-Medium Size (SME), 15. See also Inclusive Capitalism and, 62 Good African Coffee Sustainable Capitalism and, 62 Chinese FDI and, 224 Soobaroyen, T., 80 human capital development and, 125–6 sourcing linkages, local, Chinese FDI and, Smith, Adam, 50, 109 228, 231 Snow, D. A., 45, 53 South Africa. See also apartheid, South African; social entrepreneurship, 14, 195–212. See also Decent Work Country Programme; African Leadership Institute; Decent Khayelitsha Cookies; King Reports; Work Country Programme; hybrid firms; National Development Plan Vision 2023; mission driven firms; New Growth Path New Growth Path Framework Framework corporate governance and, 82–3 commercial firms and, 211 CSR and, 138 community and, 209 environmental concerns and, 231–2 context and, 198–9, 203–4 FDI and, 220–1 expatriates and, 209–10 Good African Coffee and, 251, 252 government and, 211 institutional investors and, 81 institutional logics and, 204, 208–9 place and, 208 literacy and, 205–6 regulatory responses and, 81, 82–3 management education and, 272 shareholder activism and, 79 parity and, 206–7 Ubuntu and, 89 peace and harmony and, 207–8 Southern theory, 261–2 place and belonging and, 208–10 Spence, L.J., 140 profit and, 202–3, 206 Spiritual Quotient (SQ), 120–1 stakeholders and, 207 spiritual values, human capital development sustainability and, 205, 207–8 and, 116–17 UK and, 211 Spring, A., 3–4, 9–11 social movements, 3 SQ. See Spiritual Quotient Social Responsible Investment (SRI), 216–17. SRI. See Social Responsible Investment See also sin stocks Srinivasan, S., 79 apartheid, South African, and, 216–17 SSA. See Sub-Saharan Africa UK and, 217 stakeholder meetings, private sector social wealth, xiv, 30–1, 103–4 leadership and, 184 Amaeshi and Idemudia and, 118–19 stakeholder theory, corporate governance education and, 107 and, 75

294 index

stakeholders, 65, 72 Chinese FDI and, 218–19, 224–35 Conscious Capitalism and, 48, 59 collective action and, 186–7 corporate governance and, 72–3 entrepreneurs and, 21–2 CSR and, 140–1 FDI and, 14–15, 215–35 Inclusive Capitalism and, 51, 59 ﬁnancial crisis, 2008 and, 215–16 institutional protection for, 76–7 government and, 177–8 social entrepreneurship and, 207 health and, 170 Standard Trust Bank, xiv institutional logics and, 233 state capacity, Chinese FDI and, 230 parity and, 176 state-owned enterprises (SOEs), Chinese FDI peace and harmony and, 176 and, 222–4 place and belonging and, 176 states poverty and, 170 Africa and, 25 private sector leadership and, 14, capitalism and, 25 167–91 Staub, K.M., 204 progress and prosperity and, 176 stranded assets, Sustainable Capitalism public sector and, 169, 188 and, 49 Sweetland, S.R., 111 strategic balance theory, 23 symbolic capital, elites and, 43–4, 63 Sub-Saharan Africa (SSA) Chinese FDI and, 217, 224 Tan-Mullins, M., 228 FDI and, 220–1 Tanzania, 224 Suprawan, L., 143 Tauringana, V., 78–9 sustainability. See also ShopRite Taylor, Frederick, 267 sustainability campaign Taylor, S., 71 CSR and, 137–8 Teoh, S.H., 79 Good African Coffee and, 250 Tony Elumelu Entrepreneurship investor attitudes towards, 233–4 Programme, 46 social entrepreneurship and, 205, 207–8 Tony Elumelu Foundation, xv, 19 social wealth and, 103–4 Africapitalism presented by, 199–200 sustainability movement, 31 businesses, local and, 232 Sustainable Capitalism, 44, 48–50, 53–62. See topophilia, 32 also Generation Investment trade not aid, Rugasira and, 240, 254, 255 Management traditional cultures, 2–3, 35 authority and, 61 tribal differences, 203–4, 208 compensation structures and, 49–50 Tribal Textiles, 204, 209 ESG issues and, 52, 59–60 Tricker, B., 74 generational responsibility and, 58 Trickle Out Africa, 197–8 government and, 65 trust, private sector leadership and, 185, 190. Inclusive Capitalism and, 52 See also Edelman Trust Barometer integrated reporting and, 49 Tutu, Desmond, 195–6 long term thinking and, 48–50 loyalty-driven securities and, 50 UBA. See United Bank for Africa quarterly earnings guidance and, 49 Ubuntu, 13, 104–6, 127, 195–6, 225, 263–4 ‘short to long’ and, 57 Amaeshi and Idemudia and, 225 solidarity and, 62 community and, 22, 28–9, 117 stranded assets and, 49 Good African Coffee and, 240 success of, 52–3 humanness and, 105 sustainable development, 195, 215. See also moral obligation and, 107 United Nations Sustainable moral-linguistic project, Africapitalism Development Goals as, and, 28–9

index 295

place and belonging and, 208 vocationalisation, human capital social wealth and, 105 development and, 112–13, 115–16 societal well-being and, 106–7 VP Promotions, 245, 254 South Africa and, 89 Tutu and, 196 Waitrose, Good African Coffee and, 253 UCDA. See Uganda Coffee Development walking the talk, elites and, 64–5 Authority Walsh, J.P., 196 Uganda, 241–2. See also Good African Wazzan, C. P., 79 Coffee; National Resistance wealth creation, 46, 56 Movement Welch, I., 79 coffee and, 241, 242–4 White, B.W., 109 FDI and, 241–2 Wilcock, J., 142–3 Uganda Coffee Development Authority WISE. See Work Integration Social Enterprises (UCDA), 243 Wiwa, Ken Saro, 137 UK. See United Kingdom Woll, C., 152 United Bank for Africa (UBA), xiii–xiv Woolman, D.C., 109, 114, 115, 116, 118 United Kingdom (UK) Work Integration Social Enterprises Good African Coffee and, 252–3 (WISE), 247 social entrepreneurship and, 211 World Bank, 64 SRI and, 217 The World in 2015,19 United Nations Millennium Development Goals, 175 Xu, Y., 142–3 United Nations Sustainable Development Goals, 71, 175 Yeung, M., 141 United States (US), management education and, 267–8 Zald, M.N., 43 Zambia, 87, 226, 229. See also Mumwa Vallaster, C., 143, 144 Crafts; Tribal Textiles value addition Zimbabwe, 78–9 Good African Coffee and, 250–2 Zimele, 126 Rugasira and, 255 Zohar, D., 121 Vaughn, M., 81 Zoogah, D.B., 23, 35, 37, 196, 263, 264