The Musangu Foundation
CNM is a founding partner of The Musangu Foundation, a social enterprise which was established to harness the collective investment of the private sector, with strong support from the mining industry, into social and development projects. Leveraging the mining sector, the Musangu Foundation was established to create and scale new solutions to industry development challenges through the application of ‘business thinking’ to major social and environmental issues.
Musangu became self-funded in November 2019, no longer receiving any financial support from CNM. Self-sufficiency was always Musangu’s goal and CNM wish them every success with their future projects.
Musangu’s mission is to harness the mining sector to catalyze the development, scalability and sustainability of local market-based solutions to address sector specific development challenges.
Sector stakeholders are finding themselves subject to higher levels of activism than ever before. To meet the increasing demands of government, regulators and financiers, mining companies will need to integrate risk-based corporate social responsibility strategies and develop and track key performance indicators with the same diligence they use to track production.
Traditional CSR practices can enhance a dependency culture and exposes companies to reputational risks when they decide to exit further support. The Musangu Foundation uses an ‘enterprise-based’ approach to philanthropic investment, to maximise and sustain development impact. Using the skills and networks of our mining partners, the Foundation provides a complimentary blend of financial and non-financial resources and assistance.
The Foundation funds and invest in entrepreneurs, social enterprises and NGO’s with a focus on livelihood creation, with the long-term goal for them to achieve financial independence. With the right finance, team, model and guidance, they can deliver large-scale impact without a long-term reliance on charitable support or subsidy.