Sunil Kaushal on innovative solutions to sustainable development in Africa

Standard Chartered Bank Regional CEO for Africa and the Middle East, Sunil Kaushal, recently sat down with CNBC Africa's Fiona Muthoni to discuss innovative solutions for sustainable development in Africa. Kaushal highlighted the success of the bank's initiative in promoting gender diversity across various markets, including Kenya, Nigeria, UAE, and Pakistan. The initiative, which aims to create a level playing field for both genders, has been well-received and is seen as scalable and leverageable across the region. Kaushal emphasized the importance of empowering women in the workforce, noting that diversity leads to more effective boards and successful businesses. He called for both the private sector and government to play a role in creating an enabling environment for women in the workplace, with regulations supporting gender diversity at senior levels and on boards. The private sector, according to Kaushal, plays a significant role in employment and should ensure equal opportunities for women from the recruitment process onwards. Moving on to youth entrepreneurship, Kaushal discussed the challenges faced by young entrepreneurs in gaining trust and investment. He stressed the importance of credible ideas, training, and structured approaches to build confidence among investors. Kaushal also touched upon trends in sustainable finance in Africa, noting the continent's huge potential for development and the need for capital investment in infrastructure and agriculture. He highlighted the importance of sustainable finance in promoting responsible investments and collaboration between the public and private sectors to achieve the sustainable development goals. Kaushal emphasized the role of governments in setting investment plans aligned with sustainable development goals and attracting capital based on sustainable principles. While awareness of sustainable finance is growing across the continent, Kaushal believes that more needs to be done to ensure sustainable practices are embraced at a faster rate.