Making Corporate Social Responsibility Work: Do Rural and Community Banks (RCBs) in Ghana Care at All?

Rural and Community Banks (RCBs) were set up to provide banking services by way of funds mobilization and offering of credit to cottage industry operators, farmers, fishermen, and regular salaried employees. These banks are not obliged to undertake Corporate Social Responsibility (CSR) activities but are expected by some stakeholders such as citizens in the community to devote part of their profits to meet social developmental activities. This study examines the CSR practices among RCBs in Ghana by adopting a mixed method approach. A combination of Focus Group Discussions (FGDs) and cross-sectional survey was employed to gather detailed information from 86 respondents who are associated with the selected RCBs. Data collected from Focus Group Discussions (FGDs) and annual reports were analyzed using content analysis and presented in themes and models. Using the binomial test and descriptive statistics, questionnaire responses were analyzed and presented. We found that among RCBs, CSR has become synonymous to community and social development as managers accept the value that CSR can create in business. Additionally, it was found that three major stages are involved in the planning and implementation of CSR by RCBs. The researchers recommend that RCBs put together CSR policy guidelines, which will form the basis for CSR engagements in their respective banks.