L-R: Rashidat Adebisi, Chief Client Officer, AXA Mansard Insurance; Adeolu Adewumi-Zer, CEO, ZER Consulting Africa and Shared Value Nigeria; Jessica Chivinge, Chief Strategy and Commercial Officer, Vitality Health International, South Africa; Tiekie Barnard, CEO, Shared Value Africa; Patrick Akinwuntan, Former CEO, Ecobank Nigeria and Faculty, Lagos Business School who represented the Dean, Lagos Business School; Karen Basiye, Director, Sustainable Business and Social impact, Safaricom, Kenya; and Ayodele Olojede, Divisional Head, Retail and SME, Wema Bank, unveiling Shared Value Nigeria at the maiden edition of the CEO Connect Forum Nigeria held in Lagos recently
Shared Value Africa
(SVA), in partnership with Lagos Business School Sustainability Centre and ZER
Consulting Africa, hosted the CEO Connect Forum Nigeria and the official launch
of Shared Value Nigeria. The event aimed to facilitate discussions among CEOs
and business leaders on incorporating the Creating Shared Value (CSV) approach
into their sustainability strategies, recognizing it as a fundamental business
strategy in Nigeria and beyond.
0The forum convened in person at The Wheatbaker Hotel in Ikoyi, Lagos on Wednesday, June 26, 2024. It presented a distinctive platform for senior business executives to engage in discussions and explore the utilization of societal challenges as avenues for business innovation and growth through the CSV framework. The event featured keynote addresses and discussions from esteemed local and continental leaders, who shared practical insights on integrating shared value into business operations.
Esteemed CEO and Founder of Shift Impact Africa and Shared Value Africa, Tiekie Barnard, established the forum’s direction. She underscored the transformative potential of shared value creation for Africa. “Shared Value Africa was started six years ago with the aim of strategically addressing societal challenges through a business management concept developed by Professors Michael Porter and Mark Kramer at Harvard. Shared value is first and foremost about profitability and not CSR or philanthropy. Businesses should serve all stakeholders, not just shareholders, weaving its purpose around the intersection of people, profit, and planet,” she said. She added that, “The CSV approach can enhance reputation, attract investment, and is a long-term commitment to addressing societal issues. It is our dream at Shared Value Africa for every organisation on the continent to practise shared value.”
Adeolu Adewumi-Zer, the esteemed Founder of ZER Consulting Africa and the accomplished CEO of Shared Value Nigeria, delivered an insightful presentation titled “Value Creation as a Business Imperative.”
L-R: Godfrey Adejumoh, Head, Communication and Sustainable Business, Unilever Nigeria; Kate Onsati, Operations Lead and Kenyan Office Rep, Shared Value Africa; Adeolu Adewumi-Zer, CEO ZER Consulting Africa and Shared Value Nigeria; Tiekie Barnard, CEO, Shared Value Africa; Afomre Ubogu, Corporate Affairs Specialist, Unilever Nigeria; and Abam Inyang, Senior Associate, Communications, LBS Sustainability Centre at the Shared Value Africa CEO Connect Forum Nigeria held in Lagos recently
She shared her discovery of shared value three
years ago, pointing how it connects profit with purpose. “Shared value offers a
bridge to sustainable growth, providing long-term profitability while
addressing societal needs. Launching Shared Value Nigeria will foster
partnerships, enabling businesses to achieve success while improving the
Nigerian society and economy.”
Rashidat Adebisi, the Chief Client Officer at AXA Mansard, a prominent sponsor of the event, emphasized the significance of accountability to future generations and stakeholders. She highlighted that AXA Mansard has realigned its mission to prioritize inclusivity and biodiversity.
“One of the biggest challenges we should address is what do we leave for the next generation. How do we ensure that we are responsible for our stakeholders? At Axa Mansard we did rethink our purpose to ensure that we are doing what matters. Purpose is beyond making money for us, our purpose is hinged on two key pillars which are inclusion and biodiversity. We have run programmes with women like the SHE Initiative to ensure that our business accommodates more women and we are working with other organisations to create more shared value in critical sectors like healthcare,” she said. Programmes such as the SHE Initiative have demonstrated the value of including more women in business, increasing their participation from 15 to 34 percent. AXA Mansard continues to work with organisations to create more shared value in healthcare, defining, mapping, and partnering to ensure their activities create value.
Ms. Karen Basiye, the esteemed Director of Sustainable Business and Social Impact at Safaricom, commenced the conference with a thought-provoking keynote address centered around the theme of, ‘The Business Case for Shared Value.’
L-R; Ireti Samuel-Ogbu, CEO Citibank Nigeria; Toju Egbebi, Corporate Affairs Manager, Nestlé Nigeria and a guest at the recent unveiling of Shared Value Nigeria at the Shared Value Africa CEO Connect Forum held in Lagos recently.
She highlighted the potential for businesses to generate shared value by utilizing their resources and expertise to address societal challenges, thereby achieving mutual benefits. Safaricom provided several examples, including the revolutionary mobile money initiative, M-PESA, which transformed digital mobile money payments in Kenya, and the installation of masts in refugee camps, both of which resulted in both financial gains and positive societal impact. Additionally, Safaricom introduced a mobile health wallet specifically designed for health savings, reinforcing their commitment to leveraging technology for social good.
Jessica Chivinge, the esteemed Chief Strategy and Commercial Officer at Vitality Health International, delivered an insightful presentation titled ‘The Pursuit of Shared Value in the Health Sector.’
She emphasized Vitality's shared value approach, encompassing client, employee, and societal initiatives. Engaging employees to foster innovation and rewarding clients for adopting healthy lifestyles were identified as pivotal strategies that unlocked value across the entire value chain.
The CEO Connect Forum received generous support from AXA Mansard, Zenith Bank Plc, Wema Bank Plc, Unilever Nigeria, and Nestlé Nigeria. The event wrapped up with an interactive Q&A session, during which the audience engaged with the speakers and exchanged thoughts, insights, and actionable strategies.
Lagos Business School is Africa’s leading management education institution and the LBS Sustainability Centre is a globally recognised knowledge hub that brings together the theory and practice on business and sustainability for the advancement of business performance and development outcomes. For more information about the initiatives and upcoming events by the Lagos Business School Sustainability Centre, please contact sustainabilitycentre@lbs.edu.ng. Together we can work towards a sustainable future for businesses on the continent. See our programmes at https://lbssustainabilitycentre.edu.ng/training
Shared Value Africa is the regional partner of the global Shared Value Initiative. Operated by Shift Impact Africa Group, a Shared Value consultancy, advocacy and training firm based in Johannesburg, its purpose is to grow the community of African Shared Value leaders. Shared Value Africa has been at the forefront of championing Creating Shared Value (CSV) on the continent via policies and practises that enhance the competitiveness of organisations while simultaneously advancing the economic and social conditions in the communities in which they operate. For more information, visit svai.africa.