Friday, April 19, 2024

Sustainable Business Practices Unlock SMEs Competitive Edge

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By Edward Mungai

The 17 Sustainable Development Goals (SDGs), the United Nations General Assembly ratified in September 2015, were presented as a universal call to action to eradicate poverty, achieve food security, protect the planet, achieve clean water and sanitation while embracing green energy as well as ensure that all people enjoy peace and prosperity.

The private sector has embraced the 17 goals with daily update of who is adopting SDGs and which ones. This has been largely been the case for large corporates and therefore it begs the question — is there room for sustainability in small and medium-sized enterprises (SMEs)?

The answer is simple yet complex depending on the side of the coin you are looking at. SMEs are the backbone of the African economy. The overwhelming majority of businesses in Africa can be classified as SMEs and are the drivers of the economies.

They play a crucial role in addressing poverty, inequality and job creation in rural and urban areas across Africa.

They are also an important source of employment, particularly for women, low skill workers and the youth…Read more>>

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