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Africa- News Flash: Calling All Businesses with an Africa Expansion Strategy

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Empowering Africa’s Future through Responsible Business

NAIROBI, Kenya, March 31, 2024/ — Calling all international and continental business leaders, both established and growing, whose expansion and new market strategies include the African continent. Join us at the groundbreaking 2024 Africa Shared Value and ESG Summit (www.AfricaSharedValueSummit.com), taking place in Nairobi, Kenya, from October 24th to 25th.

This inaugural event is more than just a conference—it’s a call to action for organisations operating in Africa or planning to enter this vibrant market. The summit will provide a unique platform for leaders to engage in meaningful discussions about integrating Shared Value principles with Environmental, Social, and Governance (ESG) initiatives, all aimed at fostering sustainable economic transformation across the continent.

Responsible Business
Responsible Business is about more than just reporting or adhering to governance and compliance regulations. Businesses have an enormous responsibility towards society and the environment and need to consciously and deliberately create prosperity for all their stakeholders, not just their shareholders. The summit will explore topics such as how companies can profitably address societal and environmental issues through their core business to create a positive impact and report credible and authentic data and information in their ESG Reporting.

Creating Shared Value is a revolutionary way of thinking in the business-society relationship, marrying society’s social goals with business in a profitable manner, triggering innovation, wealth redistribution, and growth for humanity and business. Prof. Michael Porter and Prof. Mark Kramer, the creators of the Shared Value Business Management model, further build on the practices and principles and how companies can create shared value through reconceiving products and markets, redefining productivity in the value chain, and building supportive industry clusters at the company’s locations (Odia, 2018).

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Africa’s Economic Outlook:
Africa is on the rise, with a burgeoning middle class, rapid urbanization, and increasing consumer spending. According to the African Development Bank, Africa’s real GDP is expected to grow by 4.1% in 2024, outpacing the global average. This growth is driven by sectors such as technology, agriculture, and renewable energy, presenting ample opportunities for businesses looking to make a positive impact.

In the words of the CEO and Founder of the Shift Impact Africa Group, which consists of Shift Impact Africa and the Shared Value Africa Initiative, and Head of the Organizing Committee of the 2024 Africa Shared Value and ESG Summit: “Africa is where we are building the global future.”

The economic outlook for Africa from 2024 onwards appears promising, with several forecasts indicating a positive trajectory. Growth in Central Africa is expected to moderate to 3.5% in 2024, with a projected recovery in private consumption and increases in mining investment. In countries such as South Africa, fiscal constraints are anticipated due to weak revenues and rising debt-servicing costs, but the overall outlook remains optimistic. The continent’s growth is expected to rebound to 4% in 2024, with broad-based improvements supported by government efforts across various countries. Moreover, Africa’s economic growth is projected to outpace global forecasts in 2023 and 2024, despite challenges faced in 2022. Overall, the continent’s economic outlook for the coming years is cautiously optimistic, with continued growth and development expected across various sectors.

Why Participate as a Brand?
The need to grow markets is a given for any brand, and the summit provides an opportunity for brands and leadership to step onto the stage and share their strategic plans for expanding into the African market. It is an opportunity for an organisation as a funder and/or sponsor to shine the light on your work and to connect with like-minded organisations and individuals who believe in Africa’s potential and are willing to collaborate in building the prosperous future we envision for the continent.

Why Attend the 2024 Africa Shared Value and ESG Summit?
Network with Industry Leaders: Connect with influential business leaders, policymakers, and stakeholders who are shaping Africa’s future.

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Gain Insights on Sustainable Business Practices: Learn how integrating Shared Value and ESG principles can drive profitability while addressing social and environmental challenges.

Explore Opportunities for Growth: Discover new avenues for business expansion and investment in one of the world’s fastest-growing regions.

Join us as a Sponsor:
Join us at the 2024 Africa Shared Value and ESG Summit and be part of a movement that is redefining business success in Africa. Together as a collective, we can create a sustainable future that benefits all stakeholders.

Register Now:
Don’t miss this opportunity to shape the future of business in Africa. Register now to secure your spot at this landmark event.

For more information and registration details, please visit our website.

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We look forward to welcoming you to Nairobi and embarking on this journey towards shared prosperity in Africa.
Distributed by APO Group on behalf of Africa Shared Value and ESG Summit.

Download document: https://apo-opa.co/49cANsM

Contact: Tiekie@shiftimpact.africa

Website: Africa Shared Value and ESG Summit The 2024 Inaugural Africa Shared Value and ESG Summit (AfricaSharedValueSummit.com)
Registration: The 2024 Inaugural Africa Shared Value and ESG Summit (AfricaSharedValueSummit.com)
SOURCE: Africa Shared Value and ESG Summit

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Mohbad: ‘I’m not the father’ – Oba Elegushi clears air on late singer’s son

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The Elegushi of IkateElegushi Kingdom, Oba Saheed Elegushi, has refuted allegations of being the father of Liam, the son of the late singer IleriOluwa Aloba, known as Mohbad. Oba Elegushi dismissed these rumors as a malicious attempt to damage his reputation.

Following Mohbad’s death, questions regarding paternity arose, with the late singer’s father calling for a DNA test to confirm Liam’s lineage. On TikTok, a user named Oloriebimusicproduction2 made multiple posts suggesting possible involvement of the monarch in Mohbad’s demise, alleging that Oba Elegushi was using his influence to obstruct justice.

In response, Oba Elegushi denounced these claims as unfounded accusations intended to tarnish his character. He revealed that a petition has been filed against those spreading these falsehoods.

A statement issued by his media consultant, Deyemi Saka, addressed the situation, clarifying that the allegations are baseless and orchestrated by specific individuals on TikTok and other social media platforms. Oba Elegushi has taken legal action to protect his rights and reputation from cyberbullying, expressing confidence in the Nigerian Police to address the matter.

While extending condolences to Mohbad’s family, Oba Elegushi urged the public not to involve the traditional institution in the paternity dispute. He emphasized the need for a thorough investigation and swift justice for Mohbad’s death, emphasizing that he shares the nation’s sorrow over the loss of the singer. The statement concluded with a plea to refrain from tarnishing Oba Elegushi’s integrity and the esteemed traditional institution he represents.

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Electricity tariff hike: AEDC not supplying 20 hours power in Abuja – Imole

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Renowned public analyst and lawyer, Dr. Charles Imole, recently revealed that despite a hefty 235% tariff increase, the Abuja Electricity Distribution Company (AEDC) has failed to provide its Band A customers in Abuja with the promised 20 hours of power supply.

Imole made this disclosure via his official X account on Thursday. He pointed out that since the new tariff regime was implemented for Band A customers on April 3, 2024, consumers have only been receiving an average of 5 to 9 hours of electricity daily.

Expressing his disappointment, Imole emphasized that the government should have mandated the Distribution Companies (DISCOs) to demonstrate their ability to deliver the promised power supply before approving such tariff hikes.

He shared personal observations, stating that despite being a Band A customer himself, the longest duration of power supply he experienced in a day was merely 9 hours, with an average of 5 hours over the past three days. This, he noted, led to continued reliance on diesel generators.

Imole criticized the apparent lack of improvement in power supply despite the substantial tariff increase, questioning whether the DISCOs were set up to fail or if they knowingly agreed to service level agreements beyond their capabilities for financial gain.

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Expressing concern about the potential nationwide crisis of confidence if the situation persists, Imole stressed the importance of transparent communication from AEDC and other DISCOs. He emphasized the need for proactive measures and honesty about their current capabilities to rebuild customer confidence.

Imole concluded by stating his intention to monitor the situation for a few more weeks and, if necessary, request a downgrade of his meter classification to Band B if there is no improvement.

It’s worth noting that the Nigerian Electricity Regulatory Commission approved a N225 per kilowatt-hour electricity tariff for customers on April 3. However, this decision has faced significant opposition from Nigerians and organized labor unions who have called for its reversal due to the prevailing economic hardships.

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Court admits Emefiele to N50m bail

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In a session held on Friday, the Ikeja Special Offences Court granted bail to the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the amount of N50 million. Emefiele faces charges of abuse of office and fraud totaling $4.5 billion and N2.8 billion.

Justice Rahman Oshodi, in his decision, approved Emefiele’s bail with two sureties posting the same amount. Oshodi stipulated that the sureties must hold gainful employment and have a documented history of three years’ tax payment to the Lagos State Government. Additionally, they must present proper identification and be registered in the Lagos State Bail Management System.

The judge also acknowledged the bail conditions of N1 million previously set for Emefiele’s co-defendant, Henry Isioma-Omoil, who is facing a separate charge before Justice Olufunke Sule-Hamzat at a Yaba High Court. Oshodi mandated that the bail documents be transferred to the special offences court and be registered in the Lagos State Bail Management System.

The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele on April 8 on a 23-count charge related to abuse of office, accepting gratifications, corrupt demands, receiving fraudulently obtained property, and conferring corrupt advantage. His co-defendant faced a three-count charge for accepting gifts as agents. Both defendants pleaded not guilty.

As of the time of this report, counsels were seeking expedited hearing and trial.

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