An Analysis of the Challenges Allied with the Application of Corporate Social Responsibility in the Banking Industry in Zambia: A Case of Absa Bank

Abstract

The research study aimed at investigating the challenges associated with the implementation of corporate social responsibility in the banking industry in Zambia: a case of ABSA Bank HQ. The specific objectives of the study were to identify the CSR practised by ABSA Bank, to investigate the banks strategies in making sure all CSR programs are conducted and to establish the challenges faced by ABSA Bank in fulfilling the implementation of its CSR. The main problem of the study was the challenges included with the challenges of CSR. The study used a descriptive design, the targeted population were the workers at ABSAibank HQ and a sample size of 100 respondents was used. A semi-structured questionnaire was used to collect data. The research used a quantitative design and the software statistical package for sciences (SPSS) version 18.0 to analyse the data. The research findings showed that most of the respondents are educated with most of them been degree holders, the findings also showed that most of the respondents have been with the bank for over 5 years but not more than 10 years and most respondents were in junior and senior management. The results also showed that economic irresponsibility is the main type of CSR bank practices and this was identified by the majority of the respondents. The findings of the study showed that aligning CSR with the business strategy is the main strategy adopted by the ABSA to make sure CSR is implemented accordingly. Lastly, transparency issues were the main challenges of ABSA Bank in the implementation of CSR. The researcher concluded that the bank needs to identify more CSR types so it can explore the different types of CSR and see which one works best for them. The researcher concluded that the bank needs to identify more strategies that will reduce the challenges of CSR at ABSA Bank. The researcher recommended further studies to be done on the same topic, but in different sectors, like mining and construction, to see how the other sectors ideal with challenges of CSR.