The United Nations Global Compact, in partnership with the Global Compact Network Kenya, has announced its new Africa Strategy to advance corporate sustainability and scale responsible business practices across Africa. This is in support of the United Nations Sustainable Development Goals (UNSDGs).
Aiming to accelerate and scale the global collective impact of business, the UN Global Compact Africa Strategy 2021-2023 aims to engage businesses large and small across Africa to uphold the Ten Principles. The principle-based approach of the UN Global Compact aims to ensure that companies meet their fundamental responsibilities in the areas of human rights, labour, the environment and anti-corruption.
The UN Global Compact Africa Strategy aims to engage and recruit the top 100 companies across Africa while expanding its value proposition to SMEs, which are a crucial part of the African economy. By 2023, the UN Global Compact aims to have reached a third of African companies with more than Ksh. 2.8 billion (USD 25 million) in revenue and increased its SME membership by 50%.
The UN Global Compact will develop a bespoke program offering to address the needs of African companies of all sizes, prioritizing five thematic areas. These are gender equality, decent work and economic growth, climate protection, peace, justice and strong institutions and partnerships.
Speaking on the launch of the Africa Strategy, Ms. Sanda Ojiambo, CEO and Executive Director of UN Global Compact said: “We believe that acting on the environment, labour, human rights and anti-corruption will drive competitive advantage and commercial success for companies. However, this goal cannot be achieved alone. We must work closely with businesses, financial institutions, governments, civil society and the United Nations. Collaboration is key.”