Corporate Social Responsibility Interventions for Namibia's Post-COVID-19 Sustainable Banking Sector

Abstract

This chapter explores the role of corporate social responsibility (CSR) as a mechanism for embedding a sustainability framework within the Namibian banking sector post-COVID-19, which is currently facing a looming deterioration of asset quality and chronic liquidity crises. A qualitative research approach grounded in thematic analysis of stakeholder interviews and documentary analysis were suitable. The study assessed the foundations of CSR activities in Namibian commercial banks using institutional, legitimacy, and stakeholder theories. Overall, governance, brand image, customer loyalty, market competition, and regulatory pre-emption ranked prominently amongst internal and external institutional factors driving CSR in Namibian commercial banks. The study identified various change interventions for commercial banks, like improved CSR reporting, stakeholder engagement, and preferential pricing strategies for vulnerable people in society. Recommendations include development of a uniform CSR framework in line with international best practices contextualized to local socio-economic conditions.