UN Global Compact’s CEO Sanda Ojiambo on how business can help economies recover from COVID-19 crisis

In a historic day for both Africa and the United Nations, Sanda Ojiambo of Kenya assumed her role as the first African head of the United Nations Global Impact. The agency, which focuses on private businesses worldwide, was established 20 years ago under the leadership of former Secretary General Kofi Annan. Ojiambo's inauguration coincided with the conclusion of the UN Global Compact's 20th-anniversary summit, a virtual gathering that brought together over 23,000 business leaders, government officials, and UN representatives. The summit provided Ojiambo with valuable insights and perspectives that will shape her 100-day plan and strategic priorities moving forward. During an interview with CNBC Africa, Ojiambo acknowledged the challenges faced by global private businesses, exacerbated by the COVID-19 pandemic. However, she emphasized the opportunity for rebuilding and transformation, as highlighted in the summit's theme of 'rebuilding better, stronger, and together.' Ojiambo expressed optimism about reimagining business models, enhancing international cooperation, and aligning growth with sustainable development goals. Addressing the issue of economic stimulus packages and bailouts, Ojiambo underscored the importance of inclusivity and targeting support where it is most needed. She acknowledged the diverse economic landscapes across continents, noting that in Africa, SMEs and the informal sector play a significant role in driving economic growth. Ojiambo urged businesses and governments to adopt inclusive strategies to revitalize economies from the grassroots level. As Ojiambo embarks on her new role, she is poised to lead the United Nations Global Compact through a pivotal period of rebuilding and recovery. Her vision for leveraging the power of private business to drive sustainable development and foster global resilience marks a new chapter for the organization and underscores the critical role of business in shaping post-pandemic economies.