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NO. B24/317 | NEWS FOR BUSINESS LEADERS
FRIDAY, MAY 13, 2022
Former UK Minister for Africa says Ghana has made significant economic progress Former UK Minister for Africa, Mark Simons, has stated that Ghana is the type of African market with which the UK should engage. Ghana, he noted, had shown amazing resistance to the pandemic’s economic effects, with substantial economic improvements during the previous year. “Ghana has shown extraordinary resistance to the pandemic’s economic effects, posting robust economic increases throughout last year despite its relative weakness. Ghana is precisely the type of African market with which Britain should seek to collaborate. The UK could benefit from this increase in economic activity.” Meanwhile, President Nana Addo Dankwa Akufo-Addo has urged African leaders to pool their
resources and synergies to develop a fresh approach to the continent’s infrastructure problems. Mr. Akufo-Addo pushed African leaders to seek an equal playing field in the global financing market during an Infrastructure Solution summit organized by the Africa Finance Corporation (AFC) in Abuja, Nigeria, on Thursday, May 12. According to him, this will help Africa to achieve adequate infrastructure development. “It is critical that we increase the influence of institutions like the AFC and ADB.” ADB just underwent recapitalization in order to expand its capabilities. “The governments of the continent must support this effort, but we must also address structural impediments in the global capital market.”
Jumia shares first Environmental Social Governance report highlighting its current sustainability practices Jumia (NYSE: JMIA) released today its first Environmental Social Governance Report outlining its ESG strategy alongside an overview of current sustainability practices at Jumia. The report draws on Jumia’s 2021 non-financial data and provides disclosures in line with Sustainability Accounting Standards Board (SASB) materiality topics for e-commerce entities as well as the UN Sustainable Development Goals (UN SDGs) . While recognising the importance of standard ESG focus areas, Jumia draws attention to the unique role that e-commerce plays in advancing more equal opportunities in Africa. As such the company has made its mission, “Leveraging technology to improve everyday lives in Africa,” the first pillar of its sustainability strategy. The report highlights five material themes in the context of its sustainability strategy: 1. Environment a—Minimizing Impact on Environment 2. Social a—Providing Convenience, Affordability and Accessibility for Consumers b—Empowering sellers, partners,
and communities c—Building an engaged inclusive and diverse workforce 3. Governance a—Operating with Strong Governance and Ethical Standards “We are proud that through our actions and our ecosystem we are contributing to social development, generating employment and business opportunities, and closing inequality gaps for thousands of people,’’ said Jumia Co-Founders and CEOs Sacha Poignonnec and Jeremy Hodara. “It is exciting to note that we have endless opportunities to make choices which are good for our business and also good for our people, communities and the planet. As a growing entity on the path to profitability, this alignment between sustainability and our business objectives is a critical success factor,” said Jumia Chief Sustainability Officer and Chairwoman Nigeria Juliet Anammah. Jumia’s ESG Report follows the publication of the company’s yearend financial results highlighted by the fourth quarter of 2021 which marked meaningful acceleration and growth momentum with new records
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reached across all usage metrics. Quarterly active consumers, orders and GMV reached all-time highs of 3.8 million, 11.3 million and $330 million respectively, increasing by 29%, 40% and 20% year-over-year, respectively.
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