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Article

30 Jul 2003

Author:
Stanley Subramoney, deputy CEO of PricewaterhouseCoopers Southern Africa, in Business Day [South Africa]

Private sector can transform Africa

THE New Partnership for Africa's Development (Nepad)...lists sustainability as one arm of its three-pronged action plan. There is growing recognition of the key role business can play in sustainable development...If the path to profitability leaves untold damage to the environment and the majority of people in poverty, the repercussions for business will be disastrous...Businesses can no longer be judged by financial prosperity alone, but must encompass social and economic responsibility. Failure to do so will destroy shareholder value.