Citi Perspectives Spring 2020

The United Nations’ 2030 Sustainable Development Goals (SDGs) enshrine priorities that are extremely relevant to the region. Africa is the second driest continent in the world and around 340 million Africans have no access to safe drinking water; climate change will exacerbate the situation further; 40% of the 1.4 billion people without access to energy are in sub- Saharan Africa; 1 while up to 95 million unbanked sub-Saharan Africans in the agricultural sector receive cash payments for their produce. 2 For organizations active in Africa, the SDGs are therefore increasingly important. Many firms are incorporating specific SDG targets into their business plans or adopting broader environmental, social and governance (ESG) principles; these efforts should ensure that future operational developments are aligned with sustainable development that benefits the environment, communities, and civil society. Multinationals, leading domestic corporates and the public sector, including governments, central banks, non-governmental organizations and development banks, need support to implement policies that help them achieve their sustainability targets. For instance, African central banks are increasingly exploring ways to manage their reserves in line with ESG principles so that potential investments are screened to eliminate exposure to companies that engage in unsustainable practices. Corporates and the public sector also need support and guidance to ensure they optimize sustainability and development benefits on the ground and target the most pressing issues when implementing SDG-related projects. Citi’s capabilities in the region and global product suite — combined with innovative technology developed in Africa and some creative development finance initiatives — can do much to help clients achieve their sustainability goals and SDG agenda. Dimitrios Raptis EMEA Head, Public Sector Sales, Treasury and Trade Solutions, Citi 1 Source: https://www.un.org/africarenewal/magazine/april-2012/africa%E2%80%99s-priorities-sustainable-development 2 Source: https://www.worldbank.org/en/news/press-release/2018/04/19/financial-inclusion-on-the-rise-but-gaps-remain- global-findex-database-shows Michael Thang’a East Africa Head, Sales, Treasury and Trade Solutions, Citi