CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF DANGOTE CEMENT IN THE PRE AND POST COVID-19 PANDEMIC PERIODS

Abstract

Dangote Cement Plc had continued to undertake its Corporate Social Responsibilities regardless of the current realities posed by the Covid 19 pandemic.  Thus, this study sought to evaluate the relationship between corporate social responsibility and the financial performance of Dangote Cement Plc, from the pre and post pandemic perspective. The study adopted an expost-facto research design and data was sourced from audited annual reports of Dangote Cement Plc from 2017 to 2022. The data collected was analyzed using descriptive statistics and the hypotheses formulated were tested using Ordinary Least Square method of multiple regression. The results of the analysis revealed that there was no significant relationship between amounts spent on education, amount spent on health care, amount spent on donations to host community and return on equity.

It was therefore concluded that Corporate Social Responsibility had no significant relationship with the performance of Dangote Cement for the years understudied. In line with these findings, the following recommendations were made: the management of Dangote Cement PLC needs to understand that to gain financial performance, they cannot solely only Corporate Social Responsibilities as that alone cannot guarantee high performance levels and before carrying out any CSR project, either relating to health care, education or donations host communities, the management should carry out a needs assessment to ensure that the CSR meets a specific needs of the host community. This way the impact of the project will be felt by the immediate community.