The United Nations Global Compact and the African Union Commission will join the Africa Global Business Initiative (GABI) to advance sustainable business practices across the continent, the organizations announced Monday.
“Through this collaboration, we will seek to strengthen the impact of sustainable business practices in Africa through the United Nations Global Strategic Compact on Africa, which aims to create an ambitious network of responsible African companies that can seize the continent’s opportunities,” said a statement released in Accra on Monday.
The new partnership was formalised through a memorandum of understanding signed by the Commissioner for Economic Development, Tourism, Trade, Industry and Minerals, Albert Muchanga, and the Deputy Secretary-General of the African Union (AU) Commission, Sanda Ojiambo, who is also the Executive Director of the UN Global Compact, in the presence of the African organisation’s Permanent Observer to the UN, Fatima Kyari Mohammed, on the sidelines of the sixth coordination session of the AU 10-year plan in Ghana.
“This collaboration marks a significant step forward in our efforts to achieve the goals set out in the African Union’s Agenda 2063; by joining the UN Global Compact, we strengthen our commitment to developing sustainable businesses and promoting economic growth in Africa, and together we want to create a dynamic economic environment that supports inclusive progress and enables African countries to realize their full potential,” Muchanga said, as quoted in the statement.
The MoU is part of the agreement between the UN and the AU on the implementation of Agenda 2063 and the Sustainable Development Goals, supporting the second Agenda Implementation Plan for the period 2023 to 2032, which is considered a “comprehensive roadmap for Africa’s development,” with the ability to “engage businesses on the continent in support of the objectives and mandate of the African Union Commission.”
GABI, the statement said, “aims to reposition Africa as a business destination and investment opportunity on the global stage, while contributing to the achievement of Agenda 2063 (2023-2032) and the Sustainable Development Goals.”