Distinguished figures spanning governmental, diplomatic, civil society, and corporate sectors convened in Lagos for the remarkable two-day Africa Social Impact Summit (ASIS) 2023.
Co-hosted by the Sterling One Foundation and the United Nations, Nigeria, the event marked a pivotal moment in accelerating Africa’s development trajectory.
Under the compelling theme, “Global Vision, Local Action: Repositioning the African Development Ecosystem for Sustainable Outcomes,” the second edition of the Africa Social Impact Summit unfolded.
The primary objective was to foster strategic partnerships and mobilize investments that would propel Africa toward the realization of the Sustainable Development Goals within an accelerated seven-year timeline.
As the global community reaches the midpoint of the 15-year commitment to the Sustainable Development Goals, an international rallying call has emerged to assess achievements, identify shortcomings, and pinpoint critical areas warranting intensified efforts for success.
ASIS 2023 served as the premier platform for these critical dialogues. Distinguished participants included former Malawian President Joyce Banda, Consul Generals representing the British High Commission, United States, Germany, and Denmark, alongside esteemed Permanent Secretaries from the Nigerian Ministries of Women Affairs, Education, Water Resources, Environment, Budget, and National Planning. Leaders from nonprofit organizations, corporate executives, and domain experts spanning education, health, climate action, agriculture, and more, brought forth their perspectives on sustainability strategies, ongoing outcomes, and forthcoming plans.
In her inaugural address, Mrs. Olapeju Ibekwe, CEO of the Sterling One Foundation, expressed her optimistic anticipation for transformative partnerships and groundbreaking innovations to emerge from the summit. She highlighted the potential for existing social impact initiatives in rural communities to access diverse resources, thereby amplifying their reach and influence across the continent. Ibekwe commended the resolute commitment of the private sector toward embracing the sustainable development goals and acknowledged the invaluable partnership of the United Nations as co-convener of this summit.
The Africa Social Impact Summit 2023 stands as a testament to the collective dedication to advancing Africa’s growth and prosperity. As stakeholders from various sectors join forces, a strategic blueprint for accelerated development over the next seven years takes shape, driving the continent closer to its aspirations for a sustainable and prosperous future.
“Across the continent, the people are waiting for action. For far too long, Africa has been tagged – the Emerging Continent, with the continent’s potential a recurring theme of conversation, yet poverty, hunger, climate crisis, and inequality, remain visible; thus, Africa is yearning for action. I remain confident and incurably optimistic that there is the capacity for the type of action we seek in this room. There is the capacity to build strong partnerships for sustainable solutions to move from plans to action quickly. I urge everyone to interact and collaborate because the stakes are very high,” she noted.
During his opening statements, the Managing Director and CEO of Sterling Bank Limited, as well as a Board Member of the Sterling One Foundation, Mr. Abubakar Suleiman, elucidated that the Summit’s primary objective revolves around addressing the root causes of pervasive poverty across Africa at all echelons.
He emphasized the importance of aligning collective efforts towards the accurate resolution of these issues and challenges, thereby ensuring a concerted movement in the right direction.
“Six months from now, when we reach out to you, we want to hear that because you came here, you met someone, and you established a relationship, you rethought your approach, therefore, are getting more value from your resources, and are better at solving problems together. The only thing that matters is the relationships you form today and how these relationships transmit to a much better outcome than you had before you came here,” he said.
Prior to ceding the spotlight to the diplomatic community, Mr. Matthias Schmale, serving as the UN Resident and Humanitarian Coordinator (acting) in Nigeria, characterized the timing of the Summit as a fortuitous occurrence amidst a period marked by significant challenges and promising prospects for Africa.
He proceeded to express that the 2030 Agenda serves as a distinct blueprint for tackling the hurdles that Africa is currently grappling with. He emphasized that this endeavor necessitates a collective departure from conventional methods and a unified push towards more accelerated progress.
“Governments, NGOs, and civil society cannot tackle our current challenges alone. If we are to secure a just, sustainable world, we need a whole-of-society approach in which the private sector plays a pivotal role,” he said.
In expressing his concern about the precarious state of the 2030 Agenda’s fulfillment, he called upon a greater number of CEOs and investors to embrace the tenets of the UN Global Compact. He encouraged them to not only hire more qualified women but also to direct their investments towards more than just profit, incorporating considerations of social impact.
He made a commitment to back the Nigerian Government, referencing the jointly accepted Cooperation Framework for Sustainable Development. Moreover, he appealed to additional organizations to welcome Public-Private Partnerships as a means to synergize the capabilities of both sectors, expediting the advancement and expansion of pivotal development endeavors.
Representing the host government, Dr. Kadri Obafemi Hamzat, Deputy Governor of Lagos State, warmly received this commitment and concept. He entreated the private sector to lead the charge in fostering innovation driven by enterprise. This innovation, he highlighted, is pivotal in cultivating the required ecosystem for recovery within the state and across the African continent.
Mr. David Adejo, Permanent Secretary of the Nigerian Ministry of Education, echoed these sentiments, underscoring the government’s recognition of its inability to single-handedly oversee the education sector.
He endorsed partnerships between the private sector and academia to bring about significant restructuring of the curriculum and to shape the caliber of graduates aimed for. He noted that such efforts were already underway in conjunction with the International Finance Corporation (IFC), which had successfully established entrepreneurship departments in universities across Nigeria. Nonetheless, he acknowledged that more was needed to support younger children.
In her positive comments, Joyce Banda, former President of Malawi, called upon the private sector in the global north to forge robust alliances with their counterparts in the global south, in order to directly impact the lives of individuals within African communities.
The remarks delivered by Mr. Will Stevens, the US Consul General, Mr. Weert Börner, the German Consul General, Mrs. Jette Bjerrum, the Danish Consul General and Head of Trade, and a representative from the British High Commission, collectively underscored the substantial potential inherent within Africa. They particularly emphasized the wealth of human resources present across the continent, highlighting the diverse strategies each of their countries were employing to harness these resources.
During his address, the US Consul General emphasized the importance of shifting the discourse towards considering African solutions for global challenges, extending beyond merely addressing issues within the African continent.
Through collaborations with prominent private entities like The Coca-Cola Company, Microsoft, MTN Foundation, Sterling Bank, Oando Foundation, SBG Insurance Brokers, the African Venture Philanthropy Alliance, TRACE, as well as developmental partners including the United Nations Development Programme (UNDP), British Council, United Nations Global Compact Network Nigeria, and the USAID-sponsored Nigeria SCALE Project, among others, the Summit successfully brought together over 1,500 in-person attendees and more than 60 distinguished experts from various industries. These participants engaged in comprehensive discussions concerning key sectors of the African economy.
Distinguished speakers, including Amina J. Mohammed, Deputy Secretary-General of the United Nations, who lauded Africa as the “most exciting business opportunity in the world” due to its vast arable land and motivated youth population, as well as Prof. Oyebanji Oyelaran-Oyeyinka, Senior Special Adviser to the President on Industrialisation at the African Development Bank Group, who emphasized the imperative of transitioning from agriculture-focused economies to industry and services, and Adrian Clamp, Global Head of Connected Enterprise at KPMG, delivered keynote addresses.
These speeches helped shape the Summit’s focus on formulating data-driven approaches to enhance the flow of impact investments into Africa.
Parallel discussions covered a range of crucial topics, including innovative methods to fund accessible quality education, healthcare initiatives in underserved communities, financing scalable solutions for climate change, augmenting the operational effectiveness of civil society organizations, expediting actions related to water management, identifying pivotal steps towards equitable development, harnessing the potential of the youthful demographic and their talents, and enhancing the reporting of progress achieved across the continent.
In addition to the panels and keynote addresses, the Summit showcased a dedicated deal room where 18 businesses, carefully selected from a pool of over 500 applicants spanning the African continent, presented their pitches. These finalists, hailing from South Africa, Kenya, and Nigeria, represented a diverse range of sectors including health, waste recycling, agriculture, and education.
Impressively, the collective investment proposal put forth by these businesses amounted to approximately $49,600,000. This substantial sum is intended to fuel their expansion initiatives and bolster production capacities.
Those businesses that emerge as successful candidates will be granted access to the requested funds, enabling them to amplify the scale of their operations and drive growth.