Collaborative Partnership for Socio-Economic Development in Africa

Running head: COLLABORATIVE PARTNERSHIP
COLLABORATIVE PARTNERSHIP
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1COLLABORATIVE PARTNERSHIP
Rio Tinto Group is one of the world’s leading producers or diamond and mineral
product. With its headquarters in London, UK, as well as Melbourne, Australia, the company
has its business spread all across the globe. Although majority of the raw materials come
from Africa, those African areas are still lagging behind in terms of socio-economic
developments.
The company engages in partnership with multiple localized firms in different nations
to enhance its business prospects. Rio Tinto has a long history of carrying out business
through collaborative partnership with China and Japan (Riotinto.com 2018). In 2014, the
CEO of Rio Tinto, Alan Davies attended the annual All-Star Weekend in New Orleans, US,
where the National Basketball (NBA) had organized a conference aimed at improving the
socio-economic status of the continent. This gave Davies a fine opportunity to pitch in for the
company, which in turn, was directly related to the development of the African countries like
Guinea or Mozambique, where Rio Tinto was hugely functional. Most of Rio Tinto’s
partnership ventures has this aim of developing Africa in the undercurrent. These
developmental programs and the business partnerships of Rio Tinto are mutually beneficial,
complementing each other’s success. The partners, acting as investment groups, helps to
ensure the safety and well-being of the local communities, which is of paramount importance
for all the parties in the business venture, as it is these communities who constitute the main
resources who are engaged in the work of extraction of the raw materials. The infrastructural
development acts as a catalyst for growth of business opportunities, both through greater
production as well as through the establishment of a customer base at the nations with whom
the company collaborates. The collaborative partnership of Rio Tinto engages players from
both the private as well as the public sectors, all of whom are offered a legitimate amount of
stake in the project outcomes (Riotinto.com. 2018). Strategic use of collaborative partnership
also helps the company to avoid risks.