The CEO Connect Forum has launched its Shared Value in Nigeria to foster dialogue among CEOs and business leaders on integrating the Creating Shared Value (CSV) approach to sustainability.

The forum provided a unique opportunity for high-level business executives to engage and discuss leveraging societal challenges as avenues for business innovation and growth through the CSV framework as a fundamental business strategy in Nigeria and beyond.

The event held in Lagos recently featured keynote addresses and discussions from local and continental leaders, who shared practical perspectives on embedding shared value into business operations.

CEO and Founder of Shift Impact Africa and Shared Value Africa, Tiekie Barnard, set the tone of the forum. She emphasised that creating shared value can be a game changer 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.

“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.”

Founder of ZER Consulting Africa and CEO, Shared Value Nigeria, Adeolu Adewumi-Zer, spoke on ‘Value Creation as a Business Imperative.’

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.”

Chief Client Officer at AXA Mansard, Rashidat Adebisi, who were major sponsors, addressed the importance of responsibility towards future generations and stakeholders.

She mentioned that at AXA Mansard, they have redefined their purpose to focus on inclusion 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.

Director of Sustainable Business and Social Impact at Safaricom, Karen Basiye, delivered the first keynote speech themed, ‘The Business Case for Shared Value.’

She indicated that businesses can create shared value by leveraging resources and expertise to tackle societal challenges, resulting in mutual benefits.

Examples from Safaricom include the mobile money initiative, M-PESA in Kenya which revolutionised digital mobile money payments and installing masts in refugee camps, both of which have driven profits and societal benefits.

Safaricom also created a mobile health wallet for specific health savings, reinforcing the importance of responsibility towards people and the planet.

Chief Strategy and Commercial Officer at Vitality Health International, Jessica Chivinge, spoke through her presentation themed, ‘The Pursuit of Shared Value in the Health Sector.’

She highlighted Vitality’s approach to shared value through client, employee, and societal initiatives.

She added that engaging employees to innovate and rewarding clients for healthy lifestyles were key strategies that unlocked value across the entire value chain.