The European Union’s African Chamber of Commerce recently adjudged Newmont Ghana’s Ahafo Development Foundation (NADeF) as the best social impact investment vehicle in Africa.
The award recognises the contribution NADeF has made towards improving lives and supporting sustainable socio-economic development in the communities neighbouring Newmont Ghana’s Ahafo Mine.
The award was announced on November 26,2014 at the EU-Africa Chamber of Commerce’s first annual Corporate Social Responsibility (CSR) in Africa awards in Brussels, Belgium.
Newmont Ghana established NADeF in 2008 as a community based foundation with a mission to drive economic and social development in the 10 communities near the Ahafo Mine.
The company contributes $1 per ounce of its annual gold production and one percent net profit each year to support various development initiatives in the Brong-Ahafo region.
More than 40 companies in sub-Saharan Africa applied for the award out of which eight were nominated to receive awards in each of three main categories namely: Sustainable Economy, Social Impact and Environment, as well as awards in two categories defined as the ‘EUACC – Promising Project’ and The ‘EUACC – Be Inspired.’
The EU-African Chamber of Commerce works to support CSR best practices in sub-Saharan Africa to help promote inclusiveness and sustainability in the region.
The Chamber showcases CSR initiatives as a tool to enhance performance and competitiveness, while encouraging shared value.