According to Shift Impact Africa, as COVID-19 exacerbates the poverty and deprivation that exists across much of Africa, the continent's private sector is playing a leading role in large-scale social relief efforts. The firm says that these initiatives are targeted at employees, suppliers, customers and the broader community.

"With the healthcare sector driving medical relief, the financial sector is working to keep small businesses afloat and all sectors are innovating to remain open for customers; companies are facing unprecedented challenges," the firm says.

"It is through businesses sharing what they are doing, the challenges they face and the solutions they are finding that the private sector will be able to grow its impact," says Shift Impact Africa founder Tiekie Barnard.

"Companies have generally built their businesses purely around financial returns. The aim of Beyond Borders: 2020 Africa Shared Value Leadership eSummit is for peer learning to assist purpose-led companies to grow the value they are creating for society also," adds Barnard.

The e-summit's webinar sessions start with the central question: What is the best way to create social impact in a time of crisis?

Shift Impact Africa says that to address this question, the first day's session features a keynote address by Harvard Business School professor and co-founder of the Shared Value Initiative — Mark Kramer — to provide guidance on the topic.

Kramer, with colleague Professor Michael Porter, coined the term 'Shared Value' to describe the ability of purpose-driven companies to generate financial returns by taking meaningful, visible steps to tackle major social and environmental problems.

In their 2011 seminal Harvard Business Review article Creating Shared Value, the duo define shared value as "policies and operating practices that enhance the competitiveness of a company, while simultaneously advancing the economic and social conditions in the communities in which it operates".

Kramer’s address will lead into a discussion between 10 high-profile business leaders from across the continent, who will talk about what their purpose-led leadership style has meant for addressing stakeholder needs during COVID-19.

According to Shift Impact Africa, the needs are extensive, from taking care of employees and addressing supplier issues to communicating with investors. The firm indicates that in the discussion, the CEOs will exchange views on opportunities for economic recovery and examine what can be put in place now to better prepare for future turbulence.

"While COVID-19 has caused hardship and economic slowdown, collaboration between business, government and other sectors across geographies is showing what can be achieved where there is a common purpose," says Barnard.

In a discussion about financial inclusion after COVID-19, which is particularly impacting micro and small businesses (SMEs), panelists will aim to explore ways to improve access to finance and to support vulnerable SMEs, individuals and households.

The discussion will host questions such as:
  • How can financial institutions make better use of technology to bridge the gap between business and society?
  • How does the African business community respond to ensure vulnerable households, SMEs and service providers are able to recover? 
  • How can governments, funders and financial institutions collectively assist?
According to the firm, this is an area in which e-summit sponsors UAP Old Mutual and KCB Group have launched responses during the pandemic.

For example, KCB Group has contributed funds towards interventions to cushion citizens from the economic hardship brought by COVID-19. Old Mutual's set of initiatives includes assistance for business and individual clients, as well as work with partners to provide funding for healthcare workers.

Healthcare business Abbott has moved rapidly to launch a rapid test kit for the virus. In a panel discussion on healthcare transformation in Africa, panelists will share insights on how the COVID-19 pandemic is reshaping healthcare in Africa.

The discussion will host questions such as:
  • What have we learnt from the pandemic about the collaboration between private, public sector and civil society that enhances social change?
  • How can the private sector contribute to meeting regional health goals across Africa?
  • What is needed for healthcare improvements in Africa over the next decade?
"Many company leaders ask how they should take the first steps to purpose-driven leadership," says Barnard. "If ever there was a time for purpose-led leadership and a broader stakeholder focus, it is now." 

"Organisations have to look at social impact but there is no cookie-cutter approach to this," concludes Barnard. "At the e-summit, we will highlight one of the most important business tools to be released this year and a playbook to assist businesses that provides a step by step guide for thinking through what good looks like — with case studies to illustrate."

Individuals can register for the e-summit here. 

For more information, visit www.africasharedvaluesummit.com. You can also follow the 2020 Africa Shared Value Leadership eSummit on Facebook or on Twitter.