This research empirically investigated the CSR practices of 84 Botswana and Malawi organizations. The findings revealed that the extent and type of CSR practices in these countries did not significantly differ from that proposed by a U.S. model of CSR, nor did they significantly differ between Botswana and Malawi. There were, however, differences between the sampled organizations that clustered into a stakeholder perspective and traditional capitalist model groups. In the latter group, the board of directors, owners, and shareholders were important stakeholders that appeared to be restricting extended stakeholder CSR activities in the Malawi and Botswana organizations. The sampled managers recognized the economic benefits of CSR practices and were not at odds with social objectives.