Sustainable Business Practices May be the Key to Attracting International Investors

At a forum in Zimbabwe, the Institute for Sustainable Africa urged small-to-medium sized Zimbabwean businesses to introduce sustainable business practices in order to attract investment.  According to a NewsDay report, Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

“As small businesses in Zimbabwe you need to move towards sustainable business practices as many investors are targeting that sector,” said Rodney Ndamba, who spoke at the Institute for Sustainable Africa policy dialogue forum for SMEs in Harare.  Ndamba stated that SMEs are the most innovative businesses. He said, “Demonstrating sustainability, environmental, social and governance in your business has become a key factor for competing and attracting investors to small business enterprises.”

About 4 percent of SMEs in Zimbabwe have environmental management systems or are ISO14001 compliant in accordance with the International Organization for Standardization, according to official statistics, NewsDay reports.  Ndamba referred this number as a very small figure.

However, he was quick to point out that failure to comply with environmental management systems has become a trade barrier for small businesses trying to penetrate international markets and supply chains. Compliance has become a basis for entering new markets such as those relating to green economy.  Ndamba also advised that sustainable business practices have also become a modern business strategy for long term and sustainable business success.

Source: AFK Insider