#doDifferent to Make a Positive Impact on South Africa's Future
In today's fast-paced and ever-changing world, the role of businesses in driving positive change cannot be overstated. This week, we look at a company stands out in its commitment to making a difference in South Africa.
Established in 1985, Mr Price Group has grown to become a cash-based fashion-value retailer with an extensive presence in South Africa, operating over 2,500 stores and online channels. They operate in four segments: Apparel, Homeware, Financial Services, and Telecoms. Their commitment to sustainability and responsible citizenship is evident in their efforts to make a difference in the lives of their customers, partners, communities, and the environment.
At the heart of Mr Price Group's ethos lies the belief that a sustainable business not only serves its customers but also cares for the communities and the environment in which it operates. As a public company listed on the Johannesburg Stock Exchange, the group takes its sustainability journey seriously, anchored in its core purpose to add value to its customers' lives and partners while ensuring the well-being of the planet and its stakeholders.
To reduce their ecological footprint, Mr Price Group has increased supply chain visibility, focused on reducing single-use plastics and invested in renewable energy with rooftop solar photovoltaic systems. They also closely monitor water usage and actively participate in recycling textile waste.
Mr Price Group's commitment to youth development is evident through its Mr Price Foundation. Through various programs like EduRise, HandPicked, and JumpStart, the foundation provides access to quality education, agripreneurship training, and retail skills development, empowering young South Africans to reach their full potential. By supporting education and skills development, Mr Price Group is helping to address the high rates of poverty, inequality, and unemployment facing the country's youth.
Mr Price Group recognizes the importance of talent acquisition, management, and development in sustaining its business success. By fostering a culture of diversity and inclusion, the company seeks to enhance its leadership and cultural initiatives, ensuring a positive and supportive working environment.
As a testament to its commitment to social and economic transformation, Mr Price Group annually invests approximately 1% of its net profit after taxation from South African operations into the MRP Foundation. The foundation, a registered non-profit organization, focuses on youth development, driving meaningful and sustainable change within communities.
Through its holistic approach to sustainability and social responsibility, Mr Price Group exemplifies the power of businesses to make a positive impact on society and the environment. By focusing on long-term value creation, responsible business practices, and meaningful community engagement, Mr Price Group sets a remarkable example for other companies to follow. As South Africa continues to face challenges and opportunities, businesses like Mr Price Group are proving that profit and purpose can coexist, contributing to a better, more sustainable future for the nation and its people.
Find out more about them here.
