The awards aim to identify and reward businesses operating in Africa for the additional work they do to further development. This is Africa is a Financial Times publication.
Nick Blazquez, president, Diageo Africa, said: "This award brings with it the recognition that within the private sector, Diageo leads by example when it comes to doing business sustainably. Diageo believes that doing good is good for business.
"All of our investments contribute to building a sustainable business and by so doing contribute significantly to the communities in which we operate. Diageo is able to demonstrate its commitment to environmental stewardship, supply chain management, agricultural development, community development and good governance.
Diageo was selected from 31 finalists in turn selected from a list of approximately 1,200 companies in Africa or operating on the continent.
Each company was asked to fill in a questionnaire, covering four broad topics on Environment & Resource Management, CSR & Developmental Impact, Employee & Supply Chain Management and Corporate Policy.
Five judges marked each submission and the overall winner was determined by the company that had the highest aggregate score.
Diageo's initiatives include 200 projects since 2006 that provide access to safe drinking water with a goal of reaching eight million people by 2015.
Diageo employs more than 6,000 people in Africa, equal to one in four employees in Diageo globally.