Aligning the Africa’s Startups vision with sustainable Development

SDG-aligned startups can obtain impact investors along with access to funding opportunities while building networks for worldwide expansion

The world is faced with pressing social and environmental challenges, and it could create distinctive opportunities for startups to apply creativity and innovation to drive positive change to solve sustainable challenges. 

If startups align their business strategy with the United Nations Sustainable Development Goals (SDGs), they can unlock new markets, attract investors, partner and contribute to a more equitable and sustainable future 

SDGs are a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity that the United Nations adopted in 2015.

Ampersand is one of the companies that could help Africa move forward economically and at the same time protect the environment. Founded in 2016, the e-motorcycle business has taken advantage of the country’s ambitious green policies with both hands.

After a slow start, the company now has grown to own more than 2,200 e-motorcycles, over 300 employees, and 26 charging stations. 

Not only has the company increased drivers’ remuneration, but it has also decreased fuel consumption, according to its CEO and founder, Josh Whale.

“For a motorcycle driver with a petrol bike, the energy costs are around $2,000 a year. With us, that cost is reduced by about a third,” he told an International Finance Corporation (IFC) reporter.

Many business opportunities in Africa can boost its economic values like renewable energy solutions, Digital technologies as well as sustainable agriculture to name a few.

Ampersand and many more emerging businesses in Africa are what we can call sustainable businesses. These are economically viable, socially responsible, and environmentally friendly. They are premised on three fundamental factors PPPs which are Profit, People, and Planet.

By prioritizing people, planet, and profit, startups can improve operational efficiency by reducing waste, sustainable management of resources, accessing new markets, and attracting impact investors.  

As a startup or a founder, it is crucial to pursue opportunities presented by social challenges and environmental issues as this will drive your venture to thrive and be positioned for funding. The SDGs offer a framework for startups to develop solutions that address global challenges by aligning their products and services with specific SDGs that define their purpose.

For instance, a startup providing financial solutions for women in rural communities which enables the women to access loans, save, and keep proper records of their business can scale its impact by aligning with SDG 5 (Gender Equality), SDG 8 (Decent Work & Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure).

Above is an example that illustrates that startups can align with the SDGs and propagate their impacts to tap into a global market of impact investors and customers, access funding opportunities from organizations prioritizing sustainable development, and collaborate with stakeholders and partners working towards common goals. 

In addition, startups should develop strategies to mitigate negative impacts and amplify positive ones. They must protect the environment in their operations, practice sustainable use of natural resources, wise use of energy, risk reduction, reduction of waste, marketing of safe products and services, and also practice disclosures.

With the increasing demand for sustainable solutions, startups have a unique opportunity to turn challenges into opportunities for innovation and impact. 

In conclusion, startups should embrace sustainable development and align with the SDGs to drive growth, attract funding, and contribute to a more equitable and sustainable future. 

____

About the Author: Paul Nwachukwu is a Business and Sustainability Professional. He is committed to helping startups align their solutions with sustainable impacts and drive change for funding.

Leave a Reply

Your email address will not be published. Required fields are marked *