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Sanda Ojiambo on how African businesses can emerge stronger from COVID-19 crisis
Soon after the COVID-19 outbreak, companies across Africa teamed up to assist their communities, through innovation and collaboration. If there is a silver lining to this health emergency, it is that African science and industry have proven that they can deliver local solutions for local needs. Sanda Ojiambo, CEO of the United Nations Global Compact joins CNBC Africa for more.
Thu, 03 Dec 2020 15:43:06 GMT
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AI Generated Summary
- Embracing the UN's 10 principles focused on human rights, labor, the environment, and anti-corruption is crucial for African businesses to emerge stronger from the COVID-19 crisis.
- Public-private sector collaboration is essential for combating the impacts of the pandemic and should be leveraged for long-term recovery and addressing economic challenges in Africa.
- The recent virtual event hosted by the UN Global Compact highlighted the importance of localizing global goals into business practices, paving the way for sustainable growth and innovation in African businesses.
In the midst of the COVID-19 crisis, African businesses have displayed resilience and innovation in coming together to support their communities. The outbreak of the pandemic has brought about challenges that have exceeded the health effects, leading to economic hardship across the continent. Sanda Ojiambo, CEO of the United Nations Global Compact, emphasizes the importance of embracing the UN's 10 principles focusing on human rights, labor, the environment, and anti-corruption to facilitate companies in emerging stronger from the crisis. These principles are key in promoting sustainable and resilient business practices, enabling businesses to better navigate through crises such as the ongoing pandemic.
The collaboration between the public and private sectors has been vital in combating the impacts of COVID-19. Governments, businesses, and civil society have joined forces, setting aside competition and sharing resources to fight the common enemy. Sanda Ojiambo highlights that this level of collaboration should be leveraged for long-term recovery, particularly in addressing the slow economic growth, high poverty, and unemployment rates prevalent in many African countries. By fostering partnerships, which are fundamental to economic and social development, opportunities for sustainable progress can be unlocked.
The recent virtual event hosted by the United Nations Global Compact brought together over 2,000 participants from 35 countries in Africa to discuss the localization of global goals into business practices. The forum focused on key areas such as ease of doing business, anti-corruption measures, climate action, youth empowerment, gender equality, and sustainable ocean business. The event aimed to provide a platform for businesses to align their strategies with sustainable development goals, fostering innovation, and collaboration to drive positive change across the continent.
As Africa navigates through the challenges posed by the COVID-19 pandemic, the emphasis on collaboration, sustainable practices, and local innovation emerges as a beacon of hope for recovery and growth. By uniting stakeholders from various sectors and aligning business strategies with global goals, African businesses can pave the way for a more resilient and sustainable future post-crisis.
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