The Managing Director of LADOL Free Zone, Dr. Amy Jadesimi, has said following the United Nations 17 Sustainable Development Goals (SDGs) will make African companies more resilient and profitable as well as giving them access to a new $12 trillion market for sustainable businesses.
He stated this at a United Nations Global Compact CEOs Breakfast Roundtable in Lagos. The event, hosted with the Assistant Secretary-General/Chief Executive Officer (CEO), UN Global Impact, Sanda Ojiambo, included the launch of the UN Global Compact Africa Strategy.
The UN Global Compact Africa Strategy (2021-2023) provides a roadmap to galvanise large and small businesses across Africa to uphold the 10 Principles and by extension the SDG goals
“The United Nations 17 Sustainable Development Goals are a manual of best practice for real private sector companies in Africa. Following them will make African companies more resilient and profitable as well as giving them access to new 12 trillion US dollar market for sustainable businesses,” she said, adding: “We will industrialise the content through network of sustainable industrial special economic zone.”
UN Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale said Africa Strategy is about galvansing the private sector to own and invest in the UN system’s sustainable development goals in a sustainable manner.
“We know that the private sector is not just an engine for growth for economic development, but an opportunity enabler.
“The strategy is about businesses signing up to that aspect of how to treat the labour force, look into human rights issue, environmental sustainability so, we are hoping through this strategy we will be able to engage more private sectors in Nigeria and we also hope that the impacts will be felt in Nigeria and the rest of the continent.
“We have talked about investment, implementing the SDGs; one area of investment is a sustainable business. We need businesses in Nigeria to revisit what they are doing; they must protect the environment, protect the resources and use the resources in a more sustainable manner. We also want investment into initiatives such as the jubilee fellowship that the UNDP manages within the UN family, which is promoting opportunities for young people to work with companies. The idea is to give them the exposure, to work with private sectors that will become more attractive as a part of the future.
Board member, UN Global Compact, Flora Mutahi, said: “This comes off the UN’s Global 10 Principles which talks about the Human Rights, environment, labour and anti-corruption. It is important to localise because Africa has its unique set of challenges, which also bring out a unique set of opportunities. So, for the Africa’s Strategy, we chose five of the SDGs that will make a change for the African continent. When we talk about inequality, it’s actually worse in Africa and this is something we need to lend our voices to make a difference.”
With 1.3 billion people and a combined GDP of $3.5 trillion, Africa is the world’s largest growth market. Consequently, African businesses are primed to play a pivotal role in the corporate sustainability movement.