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African companies are models for ingenuity and innovation

By John On:24 February 2017

Sustainable business models could open up economic opportunities of up to $12-trillion across 60 global hot spots, and contribute to an increase in employment of up to 380-million jobs by 2030, the Business and Sustainable Development Commission’s ‘Better Business, Better World’ report states.

document 8151 More than half of the total value of the opportunities are in developing countries. In Africa alone, sustainable business models could open an economic prize of at least $1.1-trillion and create over 85-million new jobs by 2030. One market hot spot – affordable housing – could create over 13-million of these jobs, while risk pooling has been identified as the single-largest monetary opportunity in Africa, valued at $150-billion. document 8152 “The world is seeing, increasingly, that African companies are models for what can be achieved with ingenuity and innovation as they solve difficult social challenges. “They are not wedded to old solutions, [and for example], in Kenya, we see digital innovators delivering banking, energy and health solutions. The speed of innovation and adoption is astonishing,” said Business and Sustainable Development Commission chairperson Mark Malloch-Brown at the launch of the report, in Nairobi. {"Africa has a real opportunity to lead the way in doing better business for a better world. As a commission, we have found that, across the continent, there is potential for inclusive, green growth and development which remains untapped,”} said mobile network operator Safaricom CEO and Business Commission member Bob Collymore. document 8154 {“We stand on the cusp of possibilities and we must seize the opportunity now. As the report shows, there has been, in the last few years, a demonstration of the possibility of leapfrogging development through new technologies and the Internet to bring development in transformative ways that also promotes purpose,”} he added. {{Jimirasire}}

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