Remarks by H.E. Mr. Abdulla Shahid, President of the 76th session of the United Nations General Assembly

31 May 2022

 

Excellencies,

Distinguished CEOs,

Ladies and gentlemen,

I am delighted to join you in launching the Africa Business Leaders Coalition, a watershed moment in recognizing one of the world’s most dynamic regions.

Visionary CEOs from leading African companies are here with us today to highlight the “importance of driving impact through action and example”.

The core message of this important event is therefore clear and unambiguous: Africa is on the move.

Africa is a resource rich, young, geographically vast, and diverse continent with expanding economies, robust private sectors and markets, growing wealth and capital, and improving governance institutions.

With 1.3 billion people and a combined GDP of $3.5 trillion dollars, Africa is the world’s biggest growth market.

Its average annual GDP growth has consistently outpaced the global average.  Over 400 African companies now boast annual revenues of US$1.0 billion or more.

Indeed, African businesses are primed to play a pivotal role in the corporate sustainability movement.

African countries therefore have the unique obligation to strategically implement not only the 2030 Agenda and its SDGs, but also the goals of Agenda 2063 of the African Union, dubbed “The Africa We Want.”

Agenda 2063 is Africa’s strategic framework aimed at achieving inclusive and sustainable development.

It is a concrete manifestation of the pan-African drive for unity, self-determination, and freedom.

It is a call for collective peace, progress and prosperity.

Dear colleagues,

The private sector is an important partner in accelerating sustainable recovery and growth in Africa.

Adopting sustainable and responsible business models in line with the Ten Principles of the UN Global Compact is key.

These principles not only drive competitive advantage, but also contribute to the creation of equitable societies, inclusive public goods, and climate resilient infrastructures.

The United Nations Global Compact is uniquely positioned to support companies on their journey to a sustainable future, post-COVID-19.

By participating in the UN Global Compact, leading corporations and micro-, small- and medium-sized companies are more likely to enhance internal innovation, de-risk their investments, gain a positive impact on performance, and become market and investor ready.

Partnership with the UN Global Compact, specifically in supporting the “Africa Strategy,” has a clear value proposition in terms of a company’s triple bottom line approach: financial viability, social responsibility, and environmental stewardship.

Let this new Coalition be the signal of greater things to come for African businesses and the African continent, driven by this powerful mantra: Doing well while doing good.

I thank you.