East African corporates launch team to spearhead achievement of UN goals

East African corporate organizations on Thursday launched a team to spearhead achievement of 17 Sustainable Development Goals (SDGs).

Kenya's Cabinet Secretary for Ministry of Industry, Trade and Cooperatives Adan Mohamed told a media briefing in Nairobi the team which is drawn from all key sectors of the economy will create frameworks for the private sector to complement government efforts to achieve SDGs.

"The team will enable East African firms to embrace business models that incorporate SDGs at the heart of their strategies," Mohamed said during the launch of the Business and Sustainable Development Report.

According to the report, African firms can exploit immense new markets if they embrace SDGs. Mohamed said that governments in the region face budgetary constraints that prevent them from achieving effective service delivery.

"The private sector can therefore play a key role in provision of water, health, education and other social services to the public," he said.

The official urged the private sector to take bold decisions to use technology to achieve SDGs, noting that the east African region has experienced consistent high economic growth rates for the past decade.

"However, some citizens are yet to be uplifted from poverty. Hence the need for the private sector to pursue business models that lead to inclusive growth," he added.

Mohamed said that Africa is the region where potential for inclusive and green growth remains most untapped.

"So corporates have the opportunity to achieve returns for shareholders as well as solve pressing issues facing the region," he noted. Endit