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, 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).
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.
