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On Tuesday, October 6, 2020, President Nana Addo-Dankwa Akufo-Addo launched ‘For better business together (4BBT)’ to inspire business-worthy behavior, critically discuss and analyze specific local issues, and serve as a convergence point for the world’s youth.
The move, according to companies and industry stakeholders, will go a long way toward further driving business interest in line with the UN’s Sustainable Development Goals (SDGs).
It also comes with innovative ideas to connect entrepreneurs who have the solutions and investors with perspectives on the SDGs.
The program, which was organized by the Ghana Ministry of Business Development (MoBD) in collaboration with the United Nations Development Program (UNDP), the International Chamber of Commerce (ICC) and the Business for Peace Foundation (BfP ) from Norway, had the theme “Post COVID-19 – Rebuilding Global Business Together”.
Speaking at the event, the president noted that the “For Better Business Together (4BBT) program is a new global partnership to promote the United Nations Sustainable Development Goals (SDGs) and strengthen companies in the world after the new COVID-19 pandemic, which continues to have a devastating effect on world economies, especially micro, small and medium-sized enterprises (MSMEs).
He said the program aims to address some of the local sustainability challenges and mobilize local entrepreneurs and businesses to find a long-term solution.
Ghana, with around 65% of its 30 million inhabitants under the age of 30, was chosen for the global launch of the 4BBT program.
For her part, Norwegian Prime Minister Erna Solberg said Ghana’s high democratic credentials, political stability, visionary leadership, and a vibrant startup and entrepreneurial ecosystem made it the obvious choice for the global launch of the 4BBT program.
“The president’s excellent management of the COVID-19 pandemic has gained global recognition. Therefore, the outcome of the 4BBT program is expected to be the facilitation of investments aligned with the SDGs with potential partnerships in local start-ups / expansion and enterprises established, to address relevant development challenges, “he said.
Speaking also about the post-COVID-19 era and useful lessons, Mr. Charles Abani, UN Resident Coordinator – Ghana, said, the devastating effect of the COVID-19 pandemic inflicting a health, economic and social crisis unprecedented in the world, which threatens lives and livelihoods, making the achievement of the SDGs more challenging and erasing the modest gains made in recent years.
According to Mr. Charles Abani, Africa needs approximately $ 114 billion to address the crises induced by COVID-19 this year alone and with an estimated funding gap of $ 44 billion.
He noted that it has a system-wide response approach with a focus on building a more inclusive and sustainable world.
“Business leaders must take new directions to adopt more sustainable and inclusive economic models. We need more partnerships and collaboration, especially with the private sector and IFIs and DFIs, to bring the whole society approach to responding to the SDGs through of concrete associations, as well as innovative financing mechanisms and instruments “, he emphasized.
He continued … “By strengthening our ‘For Better Business Together’ partnerships, we must commit to building sustainable and inclusive efforts that are not exempt from the 5Ps that underpin our sustainable development goals, focusing on people to end poverty and hunger in all its forms.; protect our planet’s natural resources and climate for future generations; foster peaceful, just and inclusive societies; guarantee prosperity and full lives in harmony with nature; and most importantly, implement the 2030 agenda through a strong global alliance. ”
In a comment, Silke Hollander, UNDP Deputy Resident Representative – Ghana, aims to enable businesses to better rebuild from the impact of the COVID-19 pandemic, as well as better move forward to enable transformational change that calls for a key component. from SDG Investor Maps, which are intended to catalyze investments towards achieving the SDGs.
He said these investor maps are being prepared in all 16 regions of Ghana and will connect investment opportunities with businesses.
It concluded that a transformative initiative of the COVID-19 Private Sector Facility, which was launched a few weeks ago during this year’s UN General Assembly; In partnership between UNDP, the United Nations Global Compact and the International Chamber of Commerce, Ghana is one of 4 countries and the only one in Africa selected to benefit from the facility’s services.
