Dangote Foundation and GBCHealth have joined forces to forge a new model of partnership, African Business Coalition on Health (GBCHealth) in Africa.
Chairman of Dangote Foundation, Aliko Dangote, shared plans to build an African Business Coalition on Health (ABCHealth), during the Bloomberg Global Business Forum, he was co-hosting, and which took place alongside the United Nations General Assembly this week in New York.
According to him, the African-led coalition of companies and philanthropists, will seek to improve the health and wellbeing of Africans, both within the workplace and within the broader communities.
Through his Foundation, Dangote has made an unprecedented grant and seed contribution to GBCHealth of US$ 1.5 million (about Shs5.39bn) over three years as a call to action and a signal to the African business community of the importance of working together and investing in health.
He stated that the partnership will develop and deploy impactful health programs across Africa, deepening knowledge, building evidence for future investment and strengthening coordination among African philanthropists, business leaders, companies and local business networks.
The Coalition is building on the leadership, reputation and convening power of the Aliko Dangote Foundation and the experience, reputation and global reach of GBCHealth.
Critical issues that will be the focus of the partnership ranges from nutrition to malaria, with priorities identified and agreed by local leadership.
“The time is ripe for the private sector to proactively demonstrate its value in partnering to lead a new era in development,” said Dangote.
“The coalition can provide much needed guidance to ensure activities and investments are driving results in areas where the private sector can have real impact, focusing on holistic and integrated solutions that cross borders. We look forward to working with other business leaders as partners in development to drive this impact.”
Co-chair of GBCHealth’s Board of Directors, Aigboje Aig-Imoukhuede said, “This coalition brings together two heavyweights in the health and development arena”.
“Together we have an opportunity to demonstrate how investing in health and creating healthier populations, can help business maximize shareholder value, accelerate economic growth and make entry into new markets more feasible.”
The program will kick off in Nigeria and roll out through business regions in Africa and beyond over the next three years.
The continent currently has 400 companies with revenue of more than $1 billion per year, and these companies are growing faster, and are more profitable in general, than their global peers. Coupled with these fast-moving regional leaders, small and growing businesses create 80% of the continent’s employment and are stoking the engines of growth.
Against this backdrop, according to Dangote, there’s a new cadre of responsible business leaders and philanthropists who understand the value and promise of sustainable large-scale investments in African countries, and are poised to make an even bigger impact on the continent’s people and economies.
Investments in better training, healthcare and supply chain accountability have demonstrated direct financial return through gains in productivity and efficiency, while support for social programs has accelerated economic growth and raised incomes which in turn unlocks a wider consumer base and makes entry into new markets more feasible.