African firms looking for business opportunities in the green sector
Greener living business opportunities are emerging across Africa as the energy-saving sector expands with increasing awareness of the importance of adopting clean energy.
A new study of small and large businesses in 16 sub-Saharan countries by Africa Practice consultancy has revealed that businesses on the continent are looking for opportunities to invest in the green economy.
Some 97 per cent of those polled revealed that they intend to invest in green initiatives over the next five years "to address sustainable development challenges".
According to Marcus Courage, the managing director of Africa Practice, the study is important because it sheds light on what role businesses can play and will help to turn challenges into opportunities.
"If we harness the private sector's interest in creating a new 'green' economy, we can set Africa on a less destructive and more equal economic development model," he said.
Kenyan business giants such as Telkom Kenya, mobile phone firm Safaricom and Mumias Sugar Company are among those that have invested extensively in renewable energy projects, according to Business Daily.
