Business + Finance

‘Profitability is sustainability’: 17 ideas on business and development

Does involving the private sector in the SDG agenda mean outsourcing development? An expert panel considers the value of partnership.

The challenge to business
Adapt your models for poor countries: The role of the private sector goes beyond bolt-on philanthropic activities, it can be embedded in everyday business. This demands different business models. In GSK’s case, developing medicines and vaccines and making sure they are accessible is the contribution we can make. We have switched our focus to growing volumes in the poorest countries and capped our prices there, helping to strengthen healthcare systems and generate long-term, inclusive development. Allan Pamba, vice president for East Africa, GSK, Nairobi, Kenya @GSK

Recognise it’s in your interest to act: Said Salim Bakhresa & Co. (SSB), an east African flour mill, launched its malaria control initiative (as part of a broader PPP) in 2008 when an internal study revealed that one in five employees were suffering monthly from malaria. The company initiated a malaria treatment and prevention programme to educate and protect its 6,000 workers. It distributed nets, made rapid diagnostic tests and medicine available in its clinics, and updated its malaria protocols. As a result, SSB has cut its malaria-related treatment costs by two-thirds. Malaria-related absences dropped by 80%. David Kyne, CEO, Kyne, New York, United States @dkyne

Wealthy individuals from the global south must play their part: With the growth of high net-worth individuals in developing countries, there needs to be a shift in culture that promotes and involves local philanthropy. Supporting civil society is a potential area where local philanthropy would change the dynamic between governments and CSOs who, when funded by foreign funder,s are often perceived as driving a foreign agenda. Sipho Moyo, Africa executive director, One @Sipho_ONEAfrica

 

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