Lagos State Governor Babajide Sanwo-Olu has urged the private sector to take advantage of enterprise-driven innovations to create impact ecosystems that will foster inclusive growth and recovery in Africa.
Sanwo-Olu made the call at the second edition of the Africa Social Impact Summit (ASIS) 2023, held in Lagos on Thursday.
The summit, which was organized by Sterling One Foundation, the United Nations in Nigeria, and the private sector, was themed “Global Vision, Local Action: Repositioning the African Development Ecosystem for Sustainable Outcomes.”
In his address, Sanwo-Olu said that the private sector has a key role to play in driving Africa’s development and that it must take advantage of the opportunities presented by enterprise-driven innovations.
He said that the private sector can create impact ecosystems by investing in social enterprises and impact-focused organizations, and by partnering with governments and other stakeholders to address critical needs.
Sanwo-Olu also called on the private sector to prioritise industrialization, saying that it is essential for Africa’s socioeconomic and political development.
He said that African countries should move from being consumption nations to production nations and that they should make sure they produce what they eat and eat what they produce.
The summit was attended by representatives of the United Nations, the diplomatic corp, international business leaders, and captains of industry.
It is hoped that the summit will help to galvanise action on the part of the private sector to drive Africa’s inclusive growth and recovery.
