Businesses have been urged to get involved in seeking to promote social impact initiatives aimed at tackling issues such as injustice and environmental challenges.
Companies are expanding policies and practices to enhance their competitiveness, while improving economic and social conditions in the communities in which they operate.
Sustainability, ESG disclosures now form part of the core requirements for both public and private sector companies, with markets regulators such as the Capital Markets Authority (CMA) for example making this a requirement for listed entities in Kenya.
At this year’s African Shared Value and ESG Summit, she urged Kenyan companies and those on the continent to collaborate to improve social impact.
“So far, we have been able to recycle nearly two billion Pep plastic bottles and divert nearly $2 million (Sh258.3 million) into the hands of the bottom of the pyramid. “These are the people who collect waste products which has allowed us to create a link Within the value chain, capital is transferred directly from the private sector to a value chain marginalized by the financial sector,” Joyce Gachoji, CEO of Packaging Producer Responsibility LLC said.
Media has embraced partnerships by showcasing the stories of the continent’s entrepreneurs and innovators and their social and environmental outcomes, says Monica Ndongo, Chief Operating Officer of Nation Media Group (NMG).
“Ultimately, it is Africans who will fix Africa but on the other hand, Africans must also bring their stories forward at all times by finding opportunities for partnerships that facilitate the telling of these stories, and this is where NMG is at,” she said in a speech she delivered at the event. In which mobile giant Safaricom launched its sustainability report: “This comes after having built the capacity and experience over time to tell these stories.”
CEO and founder of Shared Value Africa, Tiki Barnard, said collaboration is the key to a more prosperous continent.
“The power to create the Africa we want lies in our ability to cooperate. We must work together with honesty, respect and without arrogance. This is the time for true partnerships where no one takes more than he gives.
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