The Shared Value and ESG Summit held from October 24-25, 2024, at the Radisson Blu in Upper Hill, Nairobi, brought together industry leaders, policymakers, and social changemakers to explore the intersection of business growth, environmental sustainability, and social impact. The two-day event featured insightful discussions on how companies can integrate shared value principles into their operations to drive sustainable development across Africa.
The event, a testament to Kenya’s growing commitment to sustainable business practices, kicked off with the much-anticipated keynote – the launch of Safaricom’s 2024 Sustainable Business Report, which set the tone for the event’s agenda.
Safaricom’s story was a fitting introduction. Themed “Accelerating Digital Inclusion,” the report showcased the company’s dedication to profit, and creating positive social and environmental impact. Their journey of integrating sustainability into their core business strategy resonated throughout the summit.
Following Safaricom’s impactful presentation, the summit explored a diverse range of topics:
The conversations were centered on how businesses can leverage Shared Value to achieve financial success and address critical societal challenges such as climate change, inequality, and poverty. Speakers included top executives from multinational corporations, impact investors, and government officials who shared insights on creating scalable business models that deliver profit and purpose.
Discussions on environmental, social, and governance (ESG) considerations dominated the agenda. Experts explored the role of businesses in mitigating climate change, cultivating inclusive growth, and upholding ethical practices.
One of the most compelling sessions was titled ‘Young African Leaders Building Tomorrow, Together’.
The panelists shared their incredible journeys, innovative solutions, and consistent commitment to creating a more sustainable and equitable future. The discussion underscored the vital role of young entrepreneurs in driving sustainable growth across Africa. By integrating ESG considerations into their business models, these visionary leaders are building businesses that are shaping a future of shared value and inclusive prosperity.
[From Left; Eunice Ayuma, Executive Director, Bosivs, Francis Nderitu, CEO, Keep It Cool, Benedict Okpala, Co-Founder and CEO, kIRU Energy, Nick Argyros, CEO, Jamii Trade and Injozi and Eva Ngigi-Sarwari, Country Manager, Visa Kenya.]
The session highlighted the importance of building supportive ecosystems and collaborations such as the Shared Value Africa (SVA) with Visa, and U.S. African Development Foundation (USADF) to build capacity and support entrepreneurs in Kenya, Senegal, and soon across Africa. Initiatives such as JamiiTradehighlighted the importance of finding solutions to meet the needs of our young businesses encouraging trading across borders and building new markets.
The innovative strategies employed to tackle Africa’s unique challenges were truly inspiring.
A session titled “Our Own Africa Success Stories” highlighted impactful, inspiring stories like that of Christelle Kwizera, the CEO & Founder Water Access Rwanda, on providing a sustainable solution for all out of a basic human need like access to water.
Beyond the formal sessions, the summit’s true magic unfolded through insightful networking opportunities. Attendees from diverse backgrounds exchanged ideas, forged partnerships, and explored collaborative solutions. The corridors of the Radisson Blu were filled with a shared sense of purpose and a collective ambition to move the needle on ESG practices in Kenya.
Bosivs engaged some of the speakers and delegates and this is what they had to say.
“Every challenge is an opportunity! That seemed to be the mantra when speakers from the business community on the African continent took the stage at the Africa Shared Value ESG Summit in Nairobi in October.
At the summit, it was inspiring to see how large corporations are leading the way in ESG in Africa. However, smaller businesses, cooperatives, and finance providers are also serious about their responsibility in promoting sustainable business practices
Despite the enthusiasm, there was a clear recognition among the participants that African companies need increased awareness and resources to fully embrace and benefit from the opportunities that the ESG agenda can bring to their businesses.
The European market remains the largest for many African countries. Maintaining access to the EU market requires that partners in Africa focus on increasing ESG awareness among businesses and provide them with the necessary means and support to turn challenges into opportunities and meet stringent ESG standards.” ~Thomas Skov-Hansen, Head of ESG, Leading Senior Adviser, Danish Industry.
Alice Ayuma, ESG Associate, Scribe Services Registrars Ltd had this to say “Shared Value provides a clear pathway toward achieving a just and equitable community, ensuring that resources are utilized and distributed to meet everyone’s needs. In contrast to traditional CSR activities, which often focus on short-term impacts through donations, Shared Value unlocks opportunities for businesses and organizations to create lasting impacts in the communities they serve. When integrated into business frameworks, Shared Value initiatives help build stronger, more relatable brands by demonstrating that a business’s purpose extends beyond profits to include improving livelihoods. This serves as a wake-up call for organizations and businesses to embrace Shared Value initiatives, recognizing that their success and longevity depend on the well-being of the communities they serve.”
The Shared Value & ESG Summit in Nairobi underscored a crucial shift in the corporate landscape where businesses recognize the need to align profitability with sustainability. The event showcased how companies like Safaricom PLC lead the charge by adopting sustainability as a core business strategy rather than an afterthought.
As Africa continues to face socio-economic challenges, the integration of shared value and ESG principles provides a promising pathway for sustainable growth and development. The summit provided a platform for exchanging innovative ideas and inspiring actionable strategies that transform businesses into catalysts for positive change.
By focusing on Shared Value, African businesses can drive economic growth while creating social impact, thus contributing to a more inclusive and sustainable future. The Shared Value and ESG Summit concluded on a high note, leaving a lasting impression on all participants. Nairobi, a vibrant hub of innovation, is truly a leader in the conversation on sustainable business practices.
Together, we can build a prosperous Africa that leaves no one behind.
The next summit is slated for Nigeria, and we can’t wait to meet you there!
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