Managing Director of Lagos Deep Offshore Logistic Base, Dr. Amy Jadesimi, has called on the private sector in Africa to embrace the United Nations’ 17 Sustainable Development Goals as a template for new economy business models.
Jadesimi made the call at the Women Working for Change virtual summit held recently.
“African private sector is largely unencumbered by the legacy of non-sustainable businesses and investments. This means that these African companies are set to flourish if they build businesses with new economic sustainable plans and targets.
“There is now no doubt that sustainability equals profitability, as proven in the Business and Sustainable Development Commission’s publication ‘Better Business Better World,’ launched in 2016. The BSDC’s report identified $12tn in market opportunities for companies that focused on sustainable business models,” she said.
Continuing, the LADOL boss stated, “The demographics of Africa offer a substantial opportunity for global wealth creation. However, we should recognise that the playing field is still tipped against local private companies.
“Organisations and investors that want to grow with and benefit from job and wealth creation in Africa, while ensuring that Africa industrialises sustainably, should ensure that they put their support and money in the hands of sustainable African companies. Most of the current investments and support coming into Africa now are still being channelled into large monopolies and companies that maintain the status quo.”
Speaking on the importance of removing bottlenecks and hurdles deliberately put in the place of indigenous private companies, whose growth is essential for continental prosperity, she said “roughly 80 per cent of the jobs in Africa will be created by small and medium enterprises.”
“It’s as if instead of funding mobile phone companies 30 years ago – investors instead funded landline companies in the hope that they would develop mobile technology. A step change is needed, and as it happens it will result in a win, win for everyone – as prosperity in Africa will drive global peace and wealth creation,” She explained.
Jadesimi argued that women consistently led on sustainability and that evidence clearly shows that companies with women in leadership positions significantly outperform those that are 100 per cent male.
According to her, achieving SDG Goal 5, gender equality and empowerment, is necessary to achieving all the other goals, adding that for Africa, given the huge market opportunities and the need to create new local companies and grow old ones, there is an urgent need to ensure that women are given an support to take leadership positions in private and public sectors.
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