Economic Development

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Economic Development

SpringRock would work to contribute to and enhance the economic development of our host communities and countries where we live and work. This would be done through the creation of opportunities that results in economic growth in the communities we operate in.

Hence our long term Sourcing, Procurement and Provision of requirements for our operations have clearly defined strategies that are geared towards achieving local economic development along side with our project planning and execution. We have developed and would continuously evolve our host community’s economic enhancement plan by integrating our project needs, needs of the community, social and economic conditions and also a balance between short and long term needs and goals.

The areas of focus for our economic development and enhancement strategies include
  • Development of Strategic Supplier Relationship;
  • Empowerment of Entrepreneurs from local communities; and
  • Participation in Community Development Projects.
Development of Strategic Supplier Relationship: This would involve support in the areas of
  • Identification and alignment with a number of strategic suppliers whom we would build long term relationship with enabling them to have a sustained business that helps them grow their business and expand into other areas, thereby increasing the number of person they employ and in turn increase their support to development in their community.
  • Training on supply chain practices, cost management, and collaboration
  • Sharing of best practice in employee training and development
  • Sharing of best practices in policies, processes and procedures.
Empowerment of Entrepreneurs from local communities: This would involve support in the areas of
  • Diversification of the business into new domains that are related to our projects
  • Provision of training on supply chain practices, cost management, and collaboration
  • Sharing of best practice in employee training and development
  • Sharing of best practices in policies, processes and procedures
Participation in Community Development Projects: This would involve support in the areas of
  • Collaboration with other companies
  • Implementation of the SpringRock Community Engagement Strategy

Through these activities we ultimately would nurture entrepreneurship and business practices that would contribute to the economic development and progress of the host communities and countries we work.

The Sustainable Development Process in SpringRock